An analysis of consumption trends in semiconductor-beneficiary regions, where many employees of Samsung Electronics and SK Hynix reside, showed an increase in real estate purchases and high-end spending.
According to a report released by the Bank of Korea, residents of Icheon, Gyeonggi Province—where the SK Hynix headquarters is located—purchased 45 properties in the Dongtan area in February, nearly a quadruple increase from 12 properties in the same month last year.
During the same comparison period from February to July, real estate purchases in Dongtan reached 158 cases, about double the 69 cases recorded during the same period last year.
This is interpreted as Hynix employees buying newly built apartments in Dongtan in February and Samsung Electronics employees doing the same in July, following the receipt of record-high performance bonuses worth hundreds of millions of won.
The Bank of Korea stated, "Housing-related consumption in Icheon surged significantly, capturing the possibility that additional income was used for home purchases," adding, "Consumption of items closely related to home acquisition, such as furniture and home appliances, also saw the largest increase."
On the other hand, in Heungdeok-gu, Cheongju—where the SK Hynix Cheongju Campus is located—purchases of metropolitan area real estate decreased or remained at similar levels following the payout of performance bonuses.
The Bank of Korea analyzed, "Unlike the capital area, Cheongju, which is located far from the metropolitan area, maintained its tendency to acquire local housing within the region rather than in the capital area even after bonuses were paid."
The consumption boosted by performance bonuses was also concentrated on high-end items such as automobiles and department store goods.
From January to June, the monthly average delivery volume of Teslas in semiconductor-beneficiary regions—including Icheon, Hwaseong, Pyeongtaek, Cheongju Heungdeok, and Yongin Giheung—increased by 105.6% compared to the previous year, surpassing the national average of 77.2%.
The Bank of Korea analyzed, "Dining-out consumption temporarily increased right after the performance bonuses were paid, but as time passed, the center of gravity of consumption shifted toward automobiles."
It added, "While consumption patterns centered on high-end items like department store appliances and furniture stood out, there were no clear changes in daily life consumption such as at supermarkets and convenience stores, or in expenditures for healthcare and education."
Reported by Park Se-won | Video by Kim Hye-ju | Graphics by Yang Hye-min | Produced by SBS Digital News
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