The 1997 Financial Crisis and Changing Patterns of Consumption and Leisure in Korea

This paper aims to demonstrate how the 1997 economic crisis influenced Koreans everyday life, as well as the particularities of the means Koreans used to cope with the crisis of everydayness. To achieve these aims, this paper examines the changes made in Korean consumption and leisure following the economic crisis. The findings are as follows: the economic crisis polarized consumption and leisure in Korean society and served as momentum for aggravating social inequality. Meanwhile, it is worth noting that Korean society evidenced particularities in coping with the crisis. Despite the economic crisis, the Korean style of leisure represented by drinking and singing continued, as it is closely connected with Korean traditional culture. It can be argued from this that when the crisis of everydayness occurred, coping depended not only upon economic factors but social and cultural tradition.

keywords: leisure, consumption, everyday life, IMF, middle class, polarization, leisure, consumption, everyday life, IMF, middle class, polarization

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Article Contents

Vol.45 No.3

The 1997 Financial Crisis and Changing Patterns of Consumption and Leisure in Korea

Abstract

Reference

Korea Journal