Shinhan Bank 'Ordinary People's Financial Life Report 2024'
Miss it, 50,000 won; Attend, 100,000 won; Hotel, 120,000 won
The much-debated 'wedding gift money controversy' has come to an end. This is because a survey revealed that most people think 50,000 won is given when sending only an envelope for a wedding gift, and 100,000 won is given when attending the wedding in person.
On the 17th, Shinhan Bank published the 'Ordinary People’s Financial Life Report 2024,' which surveyed 10,000 economically active individuals aged 20 to 64 nationwide about their financial lives from October to November last year. The report has a 95% confidence level with a margin of error of ±0.98%p.
According to the report, the amount of wedding gift money varies depending on attendance and the wedding venue. The most common response for sending only an envelope without attending was 50,000 won (52.8%), with an average amount of 80,000 won. When attending in person, 100,000 won was the most common (67.4%), with an average amount of 110,000 won.
It was also found that more gift money is given if the wedding is held at an expensive hotel. Among those attending a regular wedding, 1.5% said they would give 150,000 won or more, and 8.6% said they would give 200,000 won or more. However, for hotel weddings, 9.0% said they would give 150,000 won, and 15.6% said they would give 200,000 won. The average wedding gift amount for hotel weddings was 120,000 won.
Younger generations generally agreed with the opinion that less gift money is acceptable if they do not attend the wedding in person. Among people in their 20s and 30s, 67.7% agreed with this, while only 50.3% of those aged 40 and above agreed.
People considered social relationships the most important criterion when deciding the amount of wedding gift money. Among those in their 20s and 30s, 11.7% responded that the way they received the invitation was an important factor in deciding the gift amount, which was higher than other generations. Among those aged 40 and above, 31.1% said they would give the same amount as they received.
Regarding attendance based on the degree of closeness, most people, regardless of age, preferred to attend the celebrations of close friends and acquaintances in person. For friends and acquaintances with whom they only occasionally keep in touch, the most common opinion was to send only an envelope without attending (20s and 30s: 59.2%, 40 and above: 65.7%), and 23% said they would not attend at all.
The average number of celebrations attended in the past year was 4.1 times. By age group, it was ▲20s (2.2 times) ▲30s (3.1 times) ▲40s (3.6 times) ▲50s and 60s (5.8 times), showing that attendance frequency increases with age.
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