Meaning Out - Valuable Consumption

What is the definition of "Meaning out"? And how does South Korea keep on the track of goodness for the society?

‘Meaning Out’ in Gyeonggi Province with ChakChakChak!

Recently, rapidly changing weather patterns have been causing problems all around the world. This is attributable to rapid industrialization and environmental pollution such as microplastics. According to NASA and NOAA, the Earth's solar energy absorption rate doubled from 2005 to 2019. As a result, glaciers in polar and alpine regions have been receding rapidly while sea ice has decreased by 3.75 million square kilometers over the past 40 years.

As a result, there is growing public interest in conscious consumption as a means by which to protect the environment. ‘Meaning Out,’ a movement primarily pursued by members of the MZ generations, is one result. ‘Meaning Out’ refers to the expression of individual tastes and beliefs through consumption activities. The National Institute of Korean Language defines it as ‘consumption of conviction’ and a consumer movement that promotes one's spending habits through social media and brings attention to social issues.

According to the Free Enterprise Institute's 2020 survey of 1,009 college students in Korea, more than six out of 10 indicated that they are willing to buy products that reflect environmental or social values even if the prices of such products are relatively higher.

In particular, those who participate in this movement regard consumption itself as a celebration and actively express political and social beliefs that have not been revealed before through consumption activities.

Today’s expression of “scolding with money,” which means cheering with money, represents the characteristics of the ‘Meaning Out’ generation. One store, for example, attracted considerable attention and sold out under a rush of orders when a story about it serving free fried chicken to impoverished young brothers became widely known.

On the other hand, MZ generation members do not shy away from boycotting either. In particular, they may engage in relentless boycotts of immoral companies whose executives have deceived consumers. This reflects the conviction and confidence of those who participate in ‘Meaning Out’ that they can change society no matter how trivial an issue.

As the pandemic continues, not only small business owners but also socially vulnerable individuals are challenged by the difficult times. This includes social enterprises created by socially vulnerable groups, such as those in low-income brackets and people with disabilities, who are in even greater peril. For these reasons, Gyeonggi Province and the Gyeonggido Company have introduced “ChakChakChak” initiatives in order to secure market channels for social enterprises and strengthen income security for people who are underprivileged.

“ChakChakChak” Magazine

“ChakChakChak’ is a shortened form of the Korean phrase “good people, good products, and good consumption.” Social value products are goods and services of social significance created by entities for vulnerable groups such as social enterprises and welfare facilities.

These initiatives provide meaningful employment for vulnerable people, improve social services, promote welfare, and revitalize local communities. The ChakChakChak Magazine is one promotional channel for this brand.

The ChakChakChak Magazine features success stories, major news, and expertise pertaining to exceptional social value products. It introduces social value initiatives and products through its eco-friendly publication, and also carries major news about Gyeonggi-do and province-based companies that can bolster small business competitiveness.

The mood light made of charcoal is one of the examples of eco-friendly social value products
ⓒGyeonggi Province

Having launched its bi-monthly publication in June 2021, the ChakChakChak magazine has been published in August, October, and December with 2,000 volumes being distributed to the cities and counties of Gyeonggi Province, including numerous public service facilities, cultural and sports facilities, and major retail sites.

ChakChakChak Brand Hall (Siheung Dream Market)

Siheung Dream Outlet, located on the 3rd floor of Siheung Shinsegae Premium Outlet, is the first regional-cooperative store in Gyeonggi Province where consumers can access concept products and social value goods produced by cooperatives, as well as local self-help centers, senior clubs, and youth start-up products from small and medium-sized companies in the province.

Consumers can meet various social value products at Siheung dream outlet
ⓒGyeonggi Province

More than 150 small and medium-sized enterprises and small businesses in various sectors, including food, clothing, and cosmetics, can be found here. In addition, unique products such as Siheung City merchandise, edible insects, and vegan products are available for purchase.

Thanks to this commendable consumption trend, sales by Siheung Dream Market are increasing significantly. According to the Gyeonggido Company, sales by Siheung Dream Market from January to June this year amounted to KRW 730 million. This marks an approximate 70 percent over the same period last year.

Meanwhile, Siheung Dream Market plans to reorganize the store with feedback from associated retailers and will recruit new stores in the second half of August.