The average cost of a wedding in South Korea has surpassed 50 million won (US$47,120) per person, a recent survey showed Tuesday, pointing to the growing financial burden of a major life event.
The average cost of a wedding per person reached 51.98 million won in South Korea with the highest bill hitting 336.5 million won, according to the survey made by the Korea Consumer Agency.
Men spend an average of 54.14 million won on wedding preparations while the comparable figure for women reached an average 47.84 million won, the survey showed.
Finding a home is one of the main economic burdens for Koreans in a society where men usually provide the home upon marriage.
The survey showed that would-be newlyweds need an average of 272 million won to secure housing while turning to home leasing costs 154 million won on average.
High housing prices make it difficult for a large number of would-be newlyweds to buy a home, most of whom opt to pay key money in a lump sum, called “jeonse,” under a two-year contract.