Ultra-Budget Restaurants Under 10,000 Won Gain Popularity Amidst Inflation

Amidst soaring prices, 'ultra-cost-effective' consumption, which involves managing a meal for under 10,000 won, is emerging as a new trend among young people. As economic uncertainty and high inflation persist, a shrinking economic sentiment and a slowing job market are leading young individuals to change their spending habits as a practical way to reduce food expenses, thereby spreading the 'ultra-saving' trend.

The average monthly living expenses for young households were recorded at 2.13 million won, with food costs representing the largest portion at 800,000 won, or 37.6%.

Consequently, movements to reduce the burden of food expenses are spreading broadly. In line with strengthening the trend of food cost savings, the 'Geoji Map' (literally 'Beggars' Map') site, which provides information on low-cost restaurants in a map format, is becoming active. Users directly register information on restaurants ranging from 2,000 won to a maximum of 10,000 won and share reviews. Furthermore, interest is growing in 'Geoji Bang' (literally 'Beggars' Room'), an online community where users sharing specific regions or living conditions exchange information on affordable eateries and tips for saving on food costs.