NYC Korean Americans Making Ends Meet

By Bo-rah Chung, Korea Times New York, December 18, 2008.
Translated from Korean by Sun-yong Reinish.

December 26, 2008

NEW YORK—(U.S. ASIAN WIRE)— Koreans are serious about saving money. In some cases, desperation has brought consumers together to make bulk purchases, in the hope of saving even more money. Even more are exercising stricter control on their spending. And with consumers tightening their belts when it comes to spending, Korean stores and retailers, also feeling the crunch, are reacting to this economic depression by strategic marketing and deep discounts.

But saving money during winter seems counterintuitive to most Koreans, at least with regard to one tradition. The seasonal rhythms of culture and lifestyle find Koreans laying out large amounts of money for simple things. For example, this is the season where vast amounts of pickled vegetables – kimchi, a Korean staple – are prepared and laid up for storage. Many Koreans continue this traditional art, despite the ready availability of such foods year-round.

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