An employee promotes a discount event for cleaning products at a Lotte Mart store in Seoul on March 3. [YONHAP]

An employee promotes a discount event for cleaning products at a Lotte Mart store in Seoul on March 3. [YONHAP]

 

The Iran war is
beginning to affect daily life in Korea, with people cutting back on spending, turning to cheaper alternatives and stockpiling essentials as living costs rise.

 

One everyday chore that recently became a luxury is laundry.

 


 

“I was surprised when I heard it would cost 30,000 to 40,000 won [$20 to $26] to dry-clean a single winter coat,” said Lee, a resident of Gangnam District, southern Seoul. Lee decided to buy home dry-cleaning detergent from an online shopping mall instead.

 

“I still take coats to the cleaners, but I have decided to wash shirts and sweaters at home,” Lee said. “I bought two bottles of home dry-cleaning detergent and sent one to my parents.”

 

Following the start of the Middle East conflict, rising prices for petrochemical materials such as naphtha — a petroleum-based raw material used to make plastics and other goods — and a weakening won have pushed up import costs and added to the burden on households. 

 

As a result, laundry costs have risen as prices for organic solvents used in dry-cleaning products — which are derived from petroleum — did the same, raising concerns over supply disruptions.

 

“The price of cleaning solvent, which used to cost around 30,000 won for 20 liters [5.3 gallons], recently rose to 50,000 won,” said a laundry shop owner surnamed Kim in Gangseo District, western Seoul. “Everything from plastic covers to hangers has become more expensive.”

 

Consumers have shared similar experiences on social media. 

 

A laundry shop owner operates a dry-cleaning machine at the shop in Seoul on April 19, 2023. [NEWS1]

A laundry shop owner operates a dry-cleaning machine at the shop in Seoul on April 19, 2023. [NEWS1]

 

“I took 11 winter coats […] to the cleaners, and they asked for 280,000 won,” one user wrote. “They said it costs more because of the fur on the hoods, so I just brought them back home to wash myself.”

 

 


Turning to cheaper options 

 

More consumers are also seeking cheaper dining options. People have begun to use a “beggar map” (translated), an online map listing restaurants where meals cost less than 10,000 won. 

 

Pedestrians walk past a restaurant in Myeongdong, central Seoul, on April 5. [NEWS1]

Pedestrians walk past a restaurant in Myeongdong, central Seoul, on April 5. [NEWS1]

 

The term “beggar” is often used in online communities, as seen with “beggar chat rooms” (translated), through which users share tips on saving money.

 

“I often notice how much prices have risen compared to a few years ago when I eat out,” Choi Sung-su, the developer of the beggar map, said. “I thought that people who want to save money need a platform through which they can find information on multiple restaurants at once.

 

“The map drew more than 500,000 visitors within two weeks of its launch and received over 5,000 restaurant submissions. People in their 20s and 30s make up most of our users.” 

 

 


Stockpiling essentials 

 

Some consumers have also begun stockpiling daily necessities due to concerns about supply disruptions. 

 

“I bought bottled water, plastic bags, wet wipes, dish detergent and zipper bags,” one user wrote online. “What else should I stock up on? This war is driving me crazy.” 

 

Another user wrote, “I stocked up on everything except trash bags — toilet paper, detergent, zipper bags and disposable gloves.”

 

A notice announcing a shortage of trash bags is posted at a supermarket in Hwaseong, Gyeonggi, on March 31. [NEWS1]

A notice announcing a shortage of trash bags is posted at a supermarket in Hwaseong, Gyeonggi, on March 31. [NEWS1]

 

Individual investors who have lost money — due to stock market volatility — are also tightening their spending. 

 

“I lost about 7 million won after the situation triggered volatility in the stock market,” a worker surnamed Jang said. “I now eat all my meals at the company cafeteria and avoid social gatherings that involve drinking to save money.” 

 

Another investor shared a similar experience. 

 

“I started investing after seeing semiconductor stocks rise at the beginning of the year, but then the war broke out,” a cram schoolteacher surnamed Kim said. “I have already lost more than 1 million won in a month. On weekends, I sometimes eat only instant noodles to save money.”

 

 


Oil prices drive inflation 

 

Rising oil prices have already begun to push up consumer inflation. Consumer prices rose 2.2 percent on year last month, and petroleum product prices jumped 9.9 percent, according to the Ministry of Data and Statistics. 

 

A gas station is seen in Seoul on April 5. [NEWS1]

A gas station is seen in Seoul on April 5. [NEWS1]

 

The average monthly price of Dubai crude rose from $68.4 per barrel in February to $128.5 per barrel last month, an increase of 87.9 percent, according to the Korea National Oil Corporation.

 

“If tensions in the Middle East restrict crude oil supply, prices for various products will inevitably rise under market principles,” said Kim Sang-bong, an economics professor at Hansung University.

 

“In the end, consumers and small business owners will have to pay higher costs. For now, the supply of petroleum products remains stable. But if the situation drags on, the government should adopt more flexible tax policies and diversify import sources to secure alternatives.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

BY OH SAM-GWON, LEE GYU-RIM AND HAN CHAN-WOO [[email protected]]