Yujin Group Boosts 'Reopening' Following Social Distancing Lift

89% Plan Dining Out and Outings in Family Month Survey... 51.9%p Increase from Last Year

Infographic of Yujin Group's Family Month Survey.
[Graphic by Yujin Group]

[Asia Economy Reporter Kim Jong-hwa] With the lifting of social distancing measures ahead of Family Month in May, reopening (resumption of economic activities) is expected to become more active.

Yujin Group recently conducted a survey related to Family Month targeting 1,064 employees from its affiliates including Yujin Enterprise, Yujin Investment & Securities, Dongyang, Yujin Home Center, Yujin Hanil Fibers, and Yujin Logistics.

When asked about plans for family dining out or outings on various commemorative days during Family Month in May, 89.0% responded that they had plans. This is an increase of 51.9 percentage points (p) compared to last year’s survey result of 37.1% during the same period. This is interpreted as an effect of the With-Corona policy, which has been promoting a return to normal life with the full lifting of the “quarantine pass” in March and “social distancing” in April.

However, caution regarding COVID-19 prevention remains. When asked about the most concerning factors during dining out or outings, 48.1% of respondents said they “avoid crowded places.” This was followed by “wearing masks and personal hygiene” (20.4%) and “preference for outdoor rather than indoor” (11.0%).

The expected average expenditure related to Family Month in May was about 672,000 KRW. This is approximately 20.9% higher than last year (556,000 KRW), but about 11.6% lower than May 2019 (760,000 KRW), before the outbreak of COVID-19. This suggests that consumer sentiment has not fully recovered.

The channels for purchasing gifts were surveyed in the same order as last year: online malls (42.7%), department stores (25.2%), and large discount stores (13.7%). Compared to last year, preference for online malls decreased by 13.9 percentage points from 56.6%, while department stores increased by 7.7 percentage points from 17.5%, indicating a growing preference for offline channels.

A Yujin Group official said, “With the lifting of social distancing measures that had been in place for over two years, expectations for a return to normal life are rising,” adding, “Since COVID-19 has not ended, we will continue to strictly follow quarantine rules and make greater efforts to ensure the safety and health management of our employees.”

This content was produced with the assistance of AI translation services.