"Meal cost 80,000 won but only giving 50,000 won as wedding gift?" Prospective couples and guests 'upset' amid high inflation

Seoul Wedding Hall Meal Cost 70,000~80,000 KRW
Hotel Wedding Basic Gift Money 100,000 KRW

As high inflation continues, the cost of wedding banquet meals has risen sharply, increasing the burden on both engaged couples and guests.

According to the wedding industry on the 9th, most wedding banquet meal prices in Seoul range from 70,000 to 80,000 KRW, with many venues in the Gangnam area charging over 80,000 to 90,000 KRW. The wedding industry raised prices for banquet meals, 'Seudeume (studio, dress, makeup)', and wedding hall rentals simultaneously right after the COVID-19 restrictions on weddings ended.

In particular, banquet meal prices have been significantly increased recently due to high inflation and rising labor costs. Engaged couples reported that meal prices have increased by more than 10,000 KRW compared to last year despite the same menu, and the 'wedding hall guaranteed minimum number of guests,' which refers to the minimum number of meals the wedding hall requires to be served, is solidifying at around 250 people. For example, the banquet meal price at a wedding hall in Songpa-gu, Seoul, was 62,000 KRW last year but rose to 83,000 KRW this year, a 33.9% increase in one year. A wedding hall in Cheongdam-dong, Gangnam-gu, also raised its price from 70,000 KRW last year to 85,000 KRW this year, a 21.4% increase.

As meal prices rise, the financial burden of congratulatory money on guests is also increasing. Traditionally, guests would give around 50,000 KRW as congratulatory money, and about 100,000 KRW for close relations, but this norm is changing amid the high inflation situation.

According to the '2024 Ordinary People's Financial Life Report' published by Shinhan Bank in April, 52.8% of respondents said they would give 50,000 KRW as congratulatory money if they do not attend a friend's wedding, the highest proportion. Next, 36.7% said they would give 100,000 KRW, and 3.3% said 200,000 KRW. For those attending the wedding, 67.4% said they would give 100,000 KRW, the highest proportion, followed by 16.9% giving 50,000 KRW, 8.6% giving 200,000 KRW, and 1.5% giving 150,000 KRW.

The average congratulatory money when only sending an envelope was 80,000 KRW, while it was 110,000 KRW when attending the wedding. If the wedding venue is a hotel, the average congratulatory money rose to 120,000 KRW. At hotel weddings, 57.2% of respondents said they would give 100,000 KRW as congratulatory money, the highest proportion, and 15.6% said they would give 200,000 KRW. In contrast, only 10.8% said they would give 50,000 KRW.

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