"Is It Possible to Get Married by Saving 70 Million Won at Age 30?"... Netizens' Reactions Revealed

Netizens Share Various Opinions on Requests for Advice
Average Age at First Marriage: Men 34, Women 32
The Increasing Delay Ultimately Due to Financial Issues

A story of a woman in her 20s who wants to know whether saving 70 million won for marriage funds is considered a lot or a little has become a hot topic among netizens. On the 20th, an online community Nate Pann posted a thread titled "Can I get married if I save 70 million won by age 31?" A woman in her mid-20s, who introduced herself as A, said, "My goal is to save 70 million won." She added, "I think I can roughly achieve this by age 31," and wrote, "I want to prepare well and get married before turning 32. I don't plan to rely on my parents' support or my partner's assets."

According to a survey by Statistics Korea, the main reason across all age groups for not getting married was cited as 'lack of marriage funds' (33.7%), including costs for wedding gifts and housing preparation. This was followed by △burden of childbirth and child-rearing (11.1%) △job/employment instability (10.6%) △unwillingness to give up personal freedom (9.4%).
[Photo by Seodongmin, Asia Economy]

Furthermore, she said, "I don't know if this amount is appropriate given my situation," and asked netizens for their opinions, saying, "I am making plans for the future. I would appreciate honest advice and judgment." Netizens who read her story left comments such as, "If you save diligently, you can cut down on wedding expenses and use the money for buying a house with your husband," "It's impressive that you don't ask your parents for help," and "It seems like a reasonable and realistic plan."

Regarding A's target amount, some comments included, "I'm 34 and have saved 94 million won," "That amount seems similar to peers," and "Isn't 70 million won a lot to have saved?" On the other hand, some netizens responded, "There are people around me who have saved 100 million won," "Even 100 million won is far from enough to get married," and "It's a great plan, but reality might be different."

The biggest reason young generations do not marry is still lack of funds

The total wedding cost for newlyweds was approximately 287.39 million KRW. The specific expenditure items were △Housing (192.71 million KRW) △Wedding hall (8.96 million KRW) △Wedding package (studio, dress, makeup) 2.78 million KRW △Wedding gifts (6.19 million KRW) △Wedding presents (7.29 million KRW) △Ibadji (0.79 million KRW) △Household goods (13.09 million KRW) △Honeymoon (4.37 million KRW), among others.
[Photo by Seodongmin, Asia Economy]

Last year, the average age at first marriage was 34.0 years for men and 31.5 years for women, which is 3.9 years and 4.2 years higher, respectively, than 20 years ago. This indicates that not only are people marrying less, but the trend of marrying later has now become established.

According to Statistics Korea's "2023 Marriage Statistics" released on the 20th, the nationwide average age at first marriage last year was 34.0 for men and 31.5 for women. Compared to the previous year, the age increased by 0.3 years for men and 0.2 years for women. The main reasons for the higher average age at first marriage are cited as high housing costs and inflation. Analysts suggest that many people are delaying marriage because they have less money to spend on consumption or savings.

In fact, according to a "Marriage Cost Report" by the matchmaking company Duo, which surveyed 1,000 newlyweds who married within the last two years, the total marriage cost for newlyweds was about 287.39 million won. Specific expense items included △housing (192.71 million won) △wedding hall (8.96 million won) △wedding package (studio, dress, makeup) 2.78 million won △wedding rings (6.19 million won) △wedding gifts (7.29 million won) △food offerings (0.79 million won) △household goods (13.09 million won) △honeymoon (4.37 million won), among others.

Faced with the cost barrier, the perception that marriage is a must is gradually decreasing. In Statistics Korea's 2022 Marriage Perception Survey, 50.1% responded that "marriage is necessary," down 1.1 percentage points from 51.2% in the survey two years earlier. However, in this survey, 43.2% answered that "it's okay to marry or not marry."

This content was produced with the assistance of AI translation services.