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By Kwak Yeon-soo
Ki Eun-hye, a freelance interpreter in her 30s, recently made a big purchase, buying an adjustable bed for 3.8 million won ($3,450). Although she spent a significant amount of money on the new bed, she claims it has brought her life-changing benefits.
"Many still think of adjustable beds as hospital beds, but they offer unparalleled comfort. They offer a more restful sleep, and I can read and work in bed comfortably," Ki said. "The zero gravity setting relieves back pain, giving me extra comfort."
Kang Jung-hwa, an office worker of five years, frequently goes to a nearby nap cafe during her lunch hour to recover from stress and fatigue.
"I visit nap cafes whenever I don't have lunch meetings," Kang said. "I like the cozy atmosphere, and lying in a hammock refreshes me."
Like Ki and Kang, more and more Koreans are opening their wallets, despite stagnant income growth and the tight job market, to purchase goods and services that help them get a good night's sleep.
According to the latest sleep study by the Organization for Economic Cooperation and Development (OECD), Korea was placed the lowest in regards to the amount of sleep people enjoyed out of 26 countries surveyed.
The survey found that the average Korean sleeps seven hours and 41 minutes per night, 41 minutes shorter than the OECD average.
Data from the National Health Insurance Service shows that the number of South Koreans with sleep disorders stood at 400,035 in the first half of 2018, a sharp increase from the 450,000 recorded throughout all of 2015.
With the steady increase in the number of sleep-deprived Koreans, the "sleep" market has been growing over recent years and is expected to reach 3 trillion won ($2.64 billion) this year, according to the Korea Sleep Industry Association (KSIA). The industry is booming to such an extent that people in Korea have coined the "Konglish" term "sleeponomics" to describe it.
"As consumers are more obsessed with wellness, they feel like they have to spend a lot of money in order to get a good night's rest," an official at Shinsegae Department Store said.
"The sleep industry has expanded to include products ranging from bed sheets and pillows to lighting equipment. Among them, bed sales have grown roughly five times compared to five years ago."
Another industry analyst here said a steep rise in the number of people with sleep disturbance is seeing the introduction of a wider variety of sleep-related items, such as horsehair pillows, air purifiers and massage chairs.
Nap cafes, where people look for a quick remedy for fatigue, also continue to flourish.
Mattress manufacturer Best Sleep has been running "Best Sleep" healing cafes across the nation to offer customers relaxation and beverages.
Another home textile company Evezary has been operating "Sleep & Sleep" centers, where sleep coordinators recommend products to solve sleeping disorders.
"When we are sleep deprived, it can increase the risk of various medical conditions, including hypertension, memory loss, depression, and in cases of zero sleep, death," Kim Jee-hyun, a professor of the Department of Medicine at Dankook University, said.
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