The average cost of getting married in South Korea now exceeds 300 million won. (Image courtesy of Yonhap)
SEOUL, Feb. 5 (Korea Bizwire) – A recent analysis has revealed that the average cost of getting married in South Korea now exceeds 300 million won, with the price of a new couple’s home making up 79% of the total expenses. Despite this, additional costs such as dowries have also proven to be significant, exceeding 20 million won.
The survey, conducted by the matchmaking company Gayeon under the theme “2024 Wedding Cost Report,” revealed that the average total cost of marriage stands at roughly 304 million won. This result comes from a study conducted through Open Survey (with a confidence level of 80% and a margin of error of ±2.03%) involving 1,000 married men and women within their first five years of marriage.
The breakdown of expenses showed a notable difference between genders, with men reporting an average cost of 302.7 million won and women reporting 286.4 million won, showing a gap of approximately 40 million won.
A significant portion of the budget, around 80% or 241.8 million won, was allocated to purchasing a home for the newlyweds. The survey instructed participants to report zero costs if they were living with their parents or provided with housing through their workplace or government housing.
The average expenditure on bridal trousseaus was reported to be 26.1 million won. Other expenses included dowries averaging 5.7 million won, wedding gifts at 5.3 million won, and a combined package of studio photoshoots, wedding dresses, and makeup averaging 4.8 million won.
Wedding venue costs varied significantly among respondents, with an average of 990,000 won, ranging from zero cost (for venues provided by companies or schools) to over 100 million won (for hotel weddings).
The average cost of a honeymoon was reported at 7.4 million won, contributions to wedding meals at 1.7 million won, and return gifts at 1.2 million won.
Gayeon emphasized that the reported average costs are just that—averages—and that many couples have managed to significantly reduce expenses on homes, bridal trousseaus, and wedding venues. The company expressed hope that engaged couples would work together to plan their weddings within a reasonable budget.
M. H. Lee (mhlee@koreabizwire.com)
