Young people grab lunch in Seoul.
Private spending has declined even among Koreans in their 20s, who have traditionally been the most avid consumers.
According to Hyundai Research Institute on Sunday, average monthly spending by people in their 20s fell from W1.7 million in 2007 to W1.5 million last year (US$1=W1,125).
Private spending in their 30s and over 60 also declined slightly, but it rose by W200,000 a head among people in their 40s and 50s.
Twenty-somethings are increasingly burdened by their rental payments, while those in their 30s have to service housing-related debts.