350 Million to 400 Million KRW for 50 People
Pure Gold Stone Ring Price Approaching 5 Million KRW
"Need to Eliminate Extravagance"
Recently, the new term ‘Dolkkutmom’ (mothers who have finished their child's first birthday party) has emerged as medium to large-scale first birthday parties inviting acquaintances are becoming popular again. After the COVID-19 pandemic, these events had shifted to family-only gatherings, but now the trend is reverting to the previous style. The first birthday party, a once-in-a-lifetime event for a child, is being held so grandly that young couples even refer to it as a ‘second wedding.’
First birthday party package. Photo by Asia Economy DB
According to the first birthday party industry on the 30th, in the case of company A in Seoul, the buffet costs range from 48,000 to 55,000 KRW per person, totaling 2.4 million to 2.75 million KRW for 50 guests. The package including the dol table, outfits, invitations, and MC is 880,000 KRW, making a total of 3.6 million KRW.
For company B, the buffet costs 52,000 KRW per person, totaling 2.6 million KRW for 50 guests. The dol table package is 600,000 KRW, and outfits, makeup, snapshot photos, and return gifts cost 900,000 KRW. Applying all options here costs 4.1 million KRW. Generally, the first birthday party time slots are at 11:30 AM, 3:00 PM, and 6:30 PM, and the event lasts for 2 hours and 30 minutes. An industry insider said, “There are only a few slots left for the next three months,” and “Most halls for 70 guests have already been booked.”
The burden is not only on the parents preparing the party but also on the invitees, who face unexpected expenses. Even gifting a dol ring costs tens of thousands of won. According to the Korea Gold Exchange, a pure gold dol ring (one don, 3.75g) costs 474,000 KRW, and a pure gold gold bar (half don, 1.875g) costs 254,000 KRW. Dol rings come in various shapes such as dragons, stars, hearts, crowns, and teddy bears, and a one don ring costs over 500,000 KRW.
Office worker Jo (33) said, “I reluctantly attended a friend’s party last weekend after being invited. I thought family-only gatherings were the trend these days, so I was surprised when I was invited. I can’t even imagine doing that myself,” and added, “The dol ring is too expensive, so I just gave 200,000 KRW as a congratulatory gift.”
Housewife Kim (36) said, “I gave birth during the COVID-19 outbreak and didn’t have a separate first birthday party, but I hear people spend more on these than weddings,” and confessed, “Gold prices are high, so it’s burdensome to go, but I worry that not going will hurt feelings.”
Due to rising gold prices, more people are replacing gold rings with cash or childcare products as gifts. According to a survey conducted last year by Trend Monitor on 1,000 adult men and women nationwide (multiple responses allowed), the types of gifts considered when attending a first birthday party within the next six months were cash (100,000 KRW 53.1%, 200,000 KRW 26.9%), baby clothes (29.3%), half don dol rings (23.2%), various childcare products (19.9%), and one don dol rings (14.1%).
Professor Eunhee Lee of Inha University’s Department of Consumer Studies said, “Korean first birthday parties originally had the concept of mutual aid. Since they involve large expenses, people contribute and receive a little at a time,” and added, “After COVID-19 ended, the culture is returning to the old ways, but now it seems more appropriate for first birthday parties to be family-only. The intention is to show off to others, and social networking services (SNS) have a big influence. Extravagance and formality need to be boldly eliminated.”
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