The Korea Chamber of Commerce and Industry on Aug. 6 released the results of a survey on 350 Gen Z respondents ages 17-18 on environmental, social and governance and consumer trends. Shown is a branch of Olive Young, the country's leading health and beauty store chain, in the Myeong-dong neighborhood of Seoul's Jung-gu District. (CJ Olive Young)

By Xu Aiying

Consumption based on one's values, or "good spending," is a growing trend in the country's economy and society.

The Korea Chamber of Commerce and Industry (KCCI) on Aug. 6 said this in releasing the results of a survey on 350 Gen Z respondents ages 17-28 on environmental, social and governance (ESG) management and consumer trends.

The study showed that the Gen Z tendency is to actively express one's beliefs through value-based consumption activities including buying or boycotting goods based on a company's ESG profile.

The KCCI said 66.9% of respondents said they would purchase goods from a company with ESG practices, even if a little expensive, showing how ESG can directly impact brand selection and product consumption.

Gen Z consumers also expressed their intent to boycott goods from a company plagued by social controversies or problems, with 63.7% saying they stopped buying things from a brand with unethical practices or negative ESG.

The KCCI said the survey showed the unique consumer values of Gen Z.

Popular keywords selected were "jjantech," or frugal investments that value efficiency, with 32.9% and "meaning out" (conscientious consumption) 26.5%.

Gen Z also showed sensitivity to authentic corporate ESG, with 65.4% of those polled expressing concern over greenwashing, or marketing disguised as eco-friendly practices or goods.

xuaiy@korea.kr