Newlywed Couples Fall Below First 1 Million Pairs... Proportion of Families with Children Hits 'All-Time Low'

Last Year, 974,000 Newlywed Couples
First-Year Newlyweds Increased by 2.9%

Average Income Between 70 Million and Under 100 Million Won
Proportion of Loan Holders Declines Amid High Interest Rates

Last year, the number of newlywed couples within five years of marriage fell below one million for the first time. However, the number of first-year newlywed couples increased for the first time since statistics began, as marriages delayed due to the spread of COVID-19 were realized. The proportion of first-marriage newlywed couples with children (52.5%) was the lowest ever, and dual-income households increased, leading to record-high income levels.

A soon-to-be newlywed couple participating in a wedding photo shoot event at Choansan Hydrangea Hill in Nowon-gu, Seoul, last July.

The Statistics Korea announced the '2023 Newlywed Couple Statistics' with these details on the 10th. Here, newlywed couples refer to couples who have registered their marriage within the past five years as of November 1 each year, maintain their marital relationship, and reside in Korea.

Last year, there were 974,000 newlywed couples, a 5.6% (58,000 couples) decrease from the previous year. This is the first time the number of newlywed couples has fallen below one million since related statistics began in 2015. The number of newlywed couples was 1,472,000 in 2015, then decreased to 1,380,000 in 2017, 1,260,000 in 2019, 1,184,000 in 2020, and 1,032,000 in 2022, continuing to decline each year.

By years of marriage, first-year newlywed couples recorded 191,000 last year, a 2.9% increase from the previous year. Unlike the second year (182,000), third year (184,000), fourth year (201,000), and fifth year (217,000) newlywed couples, which all decreased, first-year couples were the only group to show an increase. This is the first time the number of first-year couples has increased. A Statistics Korea official explained, "The increase is due to marriages delayed by the spread of COVID-19 being registered this time."

Among all newlywed couples last year, the proportion of first-marriage couples was 78.9%. The number was 769,000 couples, a 5.7% decrease from the previous year. Among first-marriage couples, the proportion of couples with children was 52.5%, down 1.1 percentage points from the previous year. The average number of children was 0.63, a decrease of 0.02 from the previous year. Both the proportion of couples with children and the number of children were the lowest since statistics began.

The proportion of dual-income households among first-marriage couples was 58.2%, up 1.0 percentage point from the previous year. The annual average income was 72.65 million KRW, a 7.0% increase from the previous year. This is the highest figure since statistics began. Statistics Korea explained that as dual-income households increase, income also rises. Looking at the annual average income brackets, '70 million to less than 100 million KRW' (23.1%) was the largest group. The proportion of those earning less than 70 million KRW decreased, while the proportion earning 70 million KRW or more increased compared to the previous year.

Among first-marriage couples, the proportion of couples with outstanding loan balances was 87.8%, down 1.2 percentage points from the previous year. Statistics Korea analyzed this as a result of last year's high-interest-rate environment. However, the median loan balance (170.51 million KRW) increased by 3.9% from the previous year, and the homeownership rate (40.8%) also rose by 0.3 percentage points, which is interpreted as a result of real estate loan support targeted at newlywed couples.