[Unmarried Era] A 25-Year-Old Wedding Hall Closes... But the Pet Industry Is Booming

⑪Changing Industry Trends in the Era of Non-Marriage
Famous Wedding Halls in Gangnam and Jongno Disappear
Rising Pet Industry Including Animal Hospitals and Pet Cafes

Editor's NoteIn a world where marriage is not mandatory, encountering those who choose to remain single is no longer a strange experience. Who chooses to remain single, and why? The issue is not only society's biased views surrounding singlehood. There are also vague perspectives that regard it as an object of admiration. We examine the pros and cons of the so-called 'single life.'

'Gangnam-gu Patio Nine, Le Meridien, Yangjae KW Convention Center, Jongno Elgamoa...'

These were once the names of famous wedding halls in Seoul that excited the hearts of 'brides-to-be.' These venues have closed during the COVID-19 period and have now disappeared into history. Additionally, 'Gungjeon Hall,' which was responsible for ceremonies for residents in Gangbuk-gu, closed in 2020 and is set to be replaced by a residential-commercial complex apartment. The 'Geumgang Wedding Hall' in Busan, which had maintained its presence for 25 years, also closed last year.

This is generally interpreted as the dark side of the 'single era.' According to the National Tax Service's analysis of the 'Top 100 Lifestyle Business Operators Data over the Last 5 Years (2018?2022)' announced on the 9th, the number of wedding halls nationwide at the end of last year was 750, a 21.1% decrease compared to 951 in 2018. The National Tax Service attributed the decline in wedding halls to singlehood, stating, "Due to environmental changes such as the culture of remaining single and the increase in single-person households, wedding halls are continuously decreasing."

Movie 'Today's Love'
[Photo by CJ E&M]

In fact, the number of marriages has decreased to about half. According to Statistics Korea's '2022 Marriage and Divorce Statistics,' the number of marriages last year was 192,000, marking an all-time low. Compared to 327,000 in 2012, ten years ago, it has nearly halved. The unmarried rate among men in their 30s has already exceeded 50%. It seems like an obvious formula that 'singlehood' is the main cause behind the closure of wedding halls.

However, the industry does not solely attribute it to 'singlehood.' They point to a more fundamental issue of 'population structure.' Kim Seon-jin, Secretary General of the Korea Wedding Industry Central Association, said, "(The part about people not getting married) has very little impact. Last year, everyone was getting married, and this year, it’s not like people suddenly changed and a trend of not marrying emerged," adding, "If you look at the distribution of birth population and age-specific population, the answer is all there."

Real estate prices and soaring living costs are also among the reasons for the increase in closures. He said, "The decisive factor for all industries in Korea is ultimately real estate," and added, "Customers might not get married and even if things are tough, they can endure if costs can be lowered, but the reason is that real estate rents do not go down, while labor costs, social insurance, and food material costs are rising."

[Image source=Yonhap News]

While the trend of singlehood 'kills' some industries, it also boosts others. A representative example is the 'pet industry.'

According to an analysis by Shinhan Card Big Data Research Institute of amounts spent by its customers from 2019 to last year at animal hospitals, pet hotels, pet cafes, and pet grooming franchises, the average spending per person reached 353,000 KRW.

Among customers who spend on pet-related expenses, singles accounted for the largest share at 34.2%. By gender, women made up 62%, more than men at 38%. In other words, 'single women' are leading the pet industry.

Although it is the era of singlehood, interest in marriage has not disappeared. The number of marriage counseling centers such as matchmaking companies increased by 16.3%, from 1,568 in 2018 to 1,823 in 2022. The National Tax Service explained, "Due to changes in marriage values, people are actively using matchmaking companies to find partners who meet their desired conditions."