THUS EXPLAINS MAYBE WHY THE ROAD TO MARRIAGE AND THE BIRTH RATE FOR KOREANS IS PAVED WITH POT HOLES–AS A TYPICAL WEDDING COST BASED ON THE KOREAN CULTURE CAN COST FROM $50,000 TO $75,000 WITH GIFTS NOT JUST TO INLAWS DRIVING THE COST HIGHER TO MAKE A FAMILY

…….First and foremost, today’s Koreans planning to get married do not have enough income. Youth unemployment has already crossed 10 percent and many young couples, who land jobs late or give up looking for a job, cannot pay for the marriage expenses on their own.
But the cost of a wedding remains high. Couples together usually spend over 100 million won ($90,000) for a mainstream wedding ceremony, according to a survey of 1,000 people done by the state-run Korea Consumer Agency in 2013. The amount does not include the housing cost for the newlywed.
This figure is beyond the reach of a young Korean whose average monthly salary is 3.1 million won, according to data compiled by the Ministry of Labor.
Expenditure on the wedding per person breaks down to engagement ceremony (2.5 million won), wedding gifts for in-laws and couples (7 million won), wedding ceremony (12 million won) and honeymoon (4 million won).
Apart from the wedding expenditure, the newlywed should also prepare a marital house. The average housing price ― either buying or renting under the jonse system ― of newly-weds in Seoul during the last two years stood at around 180 million won, according to a local wedding planner Duowed.
Financial burden on retired parents
Children’s reliance on their parents is the biggest financial concern for many parents, who are retired or close to it.
A recent survey of 400 people in their 50s done by Shinhan Bank showed that 64 percent of those questioned said their biggest financial concern of postretirement is their children’s marriage.
A survey of 300 people over 50s done by the local media outlet JoongAng Ilbo showed that 75.3 percent of the respondents said they either supported their children’s wedding or are willing to support it in the future. And 65.3 percent of the respondents said financial support for their children’s wedding is a parents’ duty.
Lim, a father of two sons who declined to be identified fully, married off both his sons in recent years. Having retired last year, he used most of his retirement funds for his children’s wedding and houses.
“Although I feel a sense of pride for marrying off my sons, I am still concerned about me and my wife’s future,” he said.
Lim said he is now seeking a daily job such as a janitor or security guard for his later years.
“Due to social sentiments it is not easy for parents to openly talk about retirement concerns with their children who are about to be married. Children should first understand the situation of their parents’ postretirement and have a candid conversation with them,” said Kim Dong-yeop, a director of Mirae Asset Retirement institute.
Parents’ involvement in wedding
As many young Koreans rely on their parents financially for their marriage, the excessive involvement of the parents in the wedding planning sometimes creates conflicts.
http://www.koreaherald.com/view.php?ud=20150327000659