Housing Cost Accounts for 79% of Wedding Expenses
A study has revealed that the cost of getting married in Korea is 347.4 million won ($294,000).
On February 20th, the Numbers Data Research Center’s weekly report “Numbers” No. 228 released a survey titled “Cost of Marriage for Koreans.” Below are the details of the survey results.
Cost of Marriage for Koreans
1. Cost of getting married in Korea, 347.4 million won ($294,000)
Recently, a marriage information company surveyed marriage costs, targeting newlywed couples within five years of marriage. How much should young people prepare for marriage savings?
The total cost of the marriage, including the betrothal gifts, a new home, dowry, wedding gifts, wedding hall, honeymoon, etc., was an average of 347.4 million won ($294,000) per couple.
[yarpp]
2. 79% of Wedding Expenses is Housing Costs
Upon examining the expenditure for each of the ten wedding preparation items, it was found that the “(newlywed) house” costs amounted to 241.76 million won ($205,000), accounting for 79% of the total wedding expenses.
Next, “dowry” averaged 26.15 million won ($22,000), “wedding hall” 9.9 million won ($8,400), “honeymoon” 7.44 million won ($6,300), “wedding gifts” 5.66 million won ($4,800), and so on. In particular, younger people tended to spend more on the wedding hall, which can be interpreted as a tendency to value visible things the younger they are.
Most Commented