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(Yonhap Feature) Economic downturn alters book sale trends
By Shin Hae-in
SEOUL, March 24 (Yonhap) -- Although her pocket is definitely lighter this year, college student Suh Eun-young can't suppress the urge to buy a new book every time she goes to a bookstore. But while she may not be spending any less, the kinds of books she buys have become very different.
"I used to buy a lot of books on dieting and fashion. Now, I am more drawn to books on employment and economy," the 24-year-old said. "It feels wrong to be thinking about losing weight and new shoes when I should be worrying about getting a job and making money."
While the global financial crisis continues to threaten various industries, publishing companies appear least affected.
The number of new books published in South Korea last year dropped by nearly 20 percent, but the overall business remained resilient with online bookstores seeing as much as a 21 percent increase in sales last year, according to recent statistics. Kyobo Book Center, Korea's largest chain bookseller, also announced a slight surge in sales, thanks to the boom in online purchases.
"Books are hardly luxury items. They are one of the most inexpensive means of entertainment that last quite long compared to movies or plays," said Song Young-ho at Yes 24, a local Internet bookstore that sold more than 25 million books last year. "We expect to do even better this year with our increased discount services."
But not every genre is selling well.
With less people on a spending spree, the market for books on fashion, travel and so-called well-being -- exercise and dieting -- has been sluggish.
On the flip side of the coin, books on religion, economy, employment and cooking are in, along with self-help books and fiction.
"People are, naturally, trying to find answers to the financial crisis and are turning to religion and self-help books for comfort," said Park Young-joon, the branch manager of Gwanghwamun Kyobo Book Center. "Novels are also popular during the difficult times with many people keen to escape from reality."
Sales of books on religion surged by an overwhelming 185 percent last year from the previous year, according to the Korean Publishers Association, a trend likely reflecting people's longing for security and peace during today's difficulties.
With employers eliminating more than 142,000 jobs in just one month in February, pushing the country's jobless rate to a four-year high, many people are also turning to books on job search and job interviews.
"I don't know if these books will actually be of help in getting a job, but it is a small consolation," college student Suh said. "By reading them, I feel like I'm not wasting my time. I would feel guilty reading something else."
A novel by renowned female author Shin Kyong-suk "Take Care of My Mother" has been the No.1 bestseller here for four consecutive weeks this year, while novels by Brazilian author Paolo Coelho and Japanese Kaori Ekuni sold the largest number of copies in 2008.
Munhakdongne Publishing Corp., one of South Korea's top publishers, has printed revised editions of Eun Hee-kyung's novel "A Gift from a Bird (1996)" and "Sweetfish Fishing Communications (1994)" by Yoon Dae-nyeong, hoping to lure the increasing number of fiction readers.
Cookbooks are also popular with more people choosing to eat at home to save money. Their sales increased by nearly 30 percent last year compared to 2007, and January and February sales rose by an average of 13 percent, according to Internet bookseller Interpark.
"Many of my colleagues are choosing to pack their own lunch and make dinner at home instead of going out to eat. We think this is the fastest and the most effective way of cutting back," said 28-year-old office worker Lee Ja-young.
"And I also think the trend can be attributed to the fact that many women have been laid off and became stay-home moms this year."
hayney@yna.co.kr
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