South Korea's private consumption per GDP fell to a record low last year. <br />According to a report by the Bank of Korea on Tuesday, last year's private spending was 48-point-one-percent of GDP,… <br /> a zero-point-six percentage point drop from a year earlier. <br />South Korea's private spending figures have fallen faster than any other country, and are at their lowest level since 1970 when the BOK began to gather relevant data. <br />The percentage of private consumption per GDP, which had reached 70-percent in the early 1970s, dropped to around 50-percent in the 2000s. <br />Economic experts say that recent falls have to do with Korea's sluggish job market and aging population. <br />
