The Experience of South Korea in Expanding Service Consumption and Its Implications for China
In the past thirty years, South Korea has seen steady growth in total consumption, an increase in the proportion of service consumption, and a continuous rise in demand for enjoyment-oriented services. The government has promoted demand-side expansion through the popularization of social security safety nets and the reduction of working hours for laborers. At the same time, South Korea's "Cultural Nation" strategy and institutional reforms have optimized the service industry environment. China can learn from South Korea's experience to improve its social security system, increase residents' income, and promote the development of the service industry to expand service consumption and cultivate new momentum for domestic demand
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