Shoppers are exploring cosmetics at a temporary Prada location within the Shinsegae department store in Gangnam-gu, Seoul. South Korea's central bank has indicated that domestic consumption is anticipated to gradually recover in the latter half of the year. However, the rebound may be hindered by factors such as an aging population and slow growth in self-employed businesses. The Bank of Korea highlighted that high prices and interest rates have increased the burden of debt repayment for individuals, delaying the recovery of private consumption. Additionally, sluggish business conditions for the self-employed have contributed to slow income improvement, further hampering private consumption. The central bank expects the economy to achieve balanced growth as the gap between exports and domestic demand narrows, with outbound shipments increasing and private consumption returning to a positive trajectory. However, structural factors such as a low birth rate and an aging population are impeding consumption recovery, along with a decline in passenger car sales. The Bank of Korea anticipates a rebound in household purchasing power in the second half of the year, driven by rising nominal wages and the replacement cycle for durable goods like IT devices. Furthermore, the bank has revised its consumer price projection down to 2.5 percent from the previous estimate of 2.6 percent.