By Park Jin-hai
Kim Seong-jun, an office worker in his early 30s, lives in his small Seoul studio. He spends little on groceries but grabs packaged meals from near-by convenience stores when he returns home.
"Nowadays picking up ready-cooked foods is not bad at all. My favorite is Hetbahn Cupbahn, where instant rice is packaged together with powered soup," he said. "While living alone, making soup has always been a challenge. The food serves me perfectly. It is tasty and saves me from pesky house chores."
Kim said with the money he saves, he spends more on clothes and watches.
The number of single households has rising from years ago and now makes up 27 percent of the total. Their percentage in 1990 was only 9 percent.
The enlarged ratio is changing consumption patterns, entailing a so-called "S.O.L.O." economic trend in Korea.
The Korea Chamber of Commerce and Industry (KCCI) said one-person households are more into "Self, On-line, Low-price and One-stop services." It means they tend to be happy with themselves and have no difficulty enjoying their life to the full without any company. They also prefer on-line shopping, low-price products and fast one-stop services.
"Now that single households have emerged as another big consumer group, companies should analyze their consumption pattern and develop new products and services," said a KCCI official.
Packaged food
What is undergoing the biggest change in the industry is the retail business.
The home meal replacement market, which includes packaged and frozen foods, is gaining the most attention. It grew to a 1.3 trillion won market in 2014, from 770 billion won in 2010.
CJ Cheiljedang is leading the instant rice market with the popular Hetbahn Cupbahn. The company sold 2 million packets in the two months from its launch and plans to add more varieties. Ottogi, which takes over a 50 percent market share, has also diversified its ready-to-eat products including Rabab, an instant cup ramen with rice.
Home shopping channel GS Shop has been selling special food packages comprised of basic items for single households such as canned ham and packaged instant foods since April last year. The limited packages, valued at 30,000 won, are sold for around 10,000 won.
Small home appliances
Targeting the increasing single households, electronics companies have launched mini–sized home appliances. Samsung's 3-kilogram mini washing machine has been a steady seller at 120 a day on average for the past 13 years. Dongbu Daewoo Electronics' 3.5-kg wall-mounted drum washing machine has hit the 100,000 sales mark and has become a hit item, while LG Electronics has also strengthened its Commence premium mini lineups that sells small sized robot vacuum cleaners and refrigerators among others.
Delivery and home security services
Since the ratio of women in single households is constantly increasing, standing at 69 percent in 2014 from 66 percent in 2010, delivery companies are offering services for women who live alone and are reluctant to receive parcels from delivery man.
A social commerce company Timon runs a delivery pickup service where women customers can pick up the delivery at their nearest convenience store.
Due to the increased calls from customers, Hyundai home shopping doubled its Dream Delivery Service last year, which hires delivery women.
Various security applications and smart devices have emerged to cater to the needs of single woman households as well. ADT Calm application, serviced by security firm ADT Caps, has incorporated the Internet of Things. The application enables customers to control lights, TV, heating systems and gas valves.
"When I am away from home for vacation I turn lights on and off so as to make the house not look empty. I think it has an effect preventing thieves targeting empty houses," said Nam Ji-yun, 29, a user of the application.
Security firm S-1, which introduced the personal mobile security service Ansim Phone for seniors in 2013, has expanded the service to single woman households. The service sends security staff when the user calls them in an emergency. Subscriptions to the service topped 160,000 by the end of last year.
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| Security company S-1's home security product enjoys new business opportunities as it caters to the increasing needs of women living alone. |
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| GS Shop sells special food packages comprised of basic items for single households such as canned ham and packaged instant foods. |
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| A model poses next to Dongbu Daewoo Electronics' 3.5-kg wall-mounted drum washing machine. Companies are selling miniature home appliances targeting single households. |
"Nowadays picking up ready-cooked foods is not bad at all. My favorite is Hetbahn Cupbahn, where instant rice is packaged together with powered soup," he said. "While living alone, making soup has always been a challenge. The food serves me perfectly. It is tasty and saves me from pesky house chores."
Kim said with the money he saves, he spends more on clothes and watches.
The number of single households has rising from years ago and now makes up 27 percent of the total. Their percentage in 1990 was only 9 percent.
The enlarged ratio is changing consumption patterns, entailing a so-called "S.O.L.O." economic trend in Korea.
The Korea Chamber of Commerce and Industry (KCCI) said one-person households are more into "Self, On-line, Low-price and One-stop services." It means they tend to be happy with themselves and have no difficulty enjoying their life to the full without any company. They also prefer on-line shopping, low-price products and fast one-stop services.
"Now that single households have emerged as another big consumer group, companies should analyze their consumption pattern and develop new products and services," said a KCCI official.
Packaged food
What is undergoing the biggest change in the industry is the retail business.
The home meal replacement market, which includes packaged and frozen foods, is gaining the most attention. It grew to a 1.3 trillion won market in 2014, from 770 billion won in 2010.
CJ Cheiljedang is leading the instant rice market with the popular Hetbahn Cupbahn. The company sold 2 million packets in the two months from its launch and plans to add more varieties. Ottogi, which takes over a 50 percent market share, has also diversified its ready-to-eat products including Rabab, an instant cup ramen with rice.
Home shopping channel GS Shop has been selling special food packages comprised of basic items for single households such as canned ham and packaged instant foods since April last year. The limited packages, valued at 30,000 won, are sold for around 10,000 won.
Small home appliances
Targeting the increasing single households, electronics companies have launched mini–sized home appliances. Samsung's 3-kilogram mini washing machine has been a steady seller at 120 a day on average for the past 13 years. Dongbu Daewoo Electronics' 3.5-kg wall-mounted drum washing machine has hit the 100,000 sales mark and has become a hit item, while LG Electronics has also strengthened its Commence premium mini lineups that sells small sized robot vacuum cleaners and refrigerators among others.
Delivery and home security services
Since the ratio of women in single households is constantly increasing, standing at 69 percent in 2014 from 66 percent in 2010, delivery companies are offering services for women who live alone and are reluctant to receive parcels from delivery man.
A social commerce company Timon runs a delivery pickup service where women customers can pick up the delivery at their nearest convenience store.
Due to the increased calls from customers, Hyundai home shopping doubled its Dream Delivery Service last year, which hires delivery women.
Various security applications and smart devices have emerged to cater to the needs of single woman households as well. ADT Calm application, serviced by security firm ADT Caps, has incorporated the Internet of Things. The application enables customers to control lights, TV, heating systems and gas valves.
"When I am away from home for vacation I turn lights on and off so as to make the house not look empty. I think it has an effect preventing thieves targeting empty houses," said Nam Ji-yun, 29, a user of the application.
Security firm S-1, which introduced the personal mobile security service Ansim Phone for seniors in 2013, has expanded the service to single woman households. The service sends security staff when the user calls them in an emergency. Subscriptions to the service topped 160,000 by the end of last year.
