S. Koreans cut cash gifts, donations amid slump
Jun 12, 2015
South Koreans are cutting back on their cash gifts and donations as the economy remains sluggish, government data showed Friday. According to the data by Statistics Korea, transfer spending that includes cash given as wedding and condolence gifts fell in the first quarter after backtracking in the October-December period. In the first three months of 2015, outlays dipped 0.3 percent on-year, with spending falling 5.8 percent in the previous quarter. Transfer spending dropped the steepest amon