For the first time this year, 100,000 won transfers surpassed 50,000 won transfers in KakaoPay's condolence money category. Following wedding gifts, funeral contributions have now entered the "100,000 won era," reshaping the standards of Korea's ceremonial culture.
Wedding Gifts in 2023, Condolence Money This Year… 100,000 Won Becomes the Standard
According to KakaoPay's 10th anniversary money transfer service report released Tuesday, the share of transfers using digital envelopes rose to 23 percent last year, up from 13 percent in 2019.
The practice of sending money along with a message in an envelope has gradually become part of daily life. The most frequently used envelope over the past decade was "Settlement Complete," with 126.63 million instances, followed by "My Heart," "Congratulations on Your Wedding," and "Thank You."
The amounts placed inside the envelopes have also changed. The most common wedding gift transfer was 50,000 won until 2022, but 100,000 won took the top spot starting in 2023.
This year, 100,000 won also surpassed 50,000 won in condolence envelopes for the first time. The shift reflects how rising prices and changing ceremonial customs have been directly mirrored in digital transfer data.
In a survey conducted last year by job portal Incruit among 844 office workers, 61.8 percent of respondents chose 100,000 won as the appropriate wedding gift amount for a co-worker, including the cost of the meal.
Considering that in the same survey in 2023, the top appropriate amount for a co-worker with whom one was not particularly close was 50,000 won (65.1 percent), the baseline for wedding gifts perceived by guests has moved up a notch in just two years.
From Teens to Centenarians… 'Emotional Transfers' Spread Across All Generations
Meanwhile, digital money transfers are no longer the culture of a specific generation but have spread into the daily lives of all age groups. Total transfers by teenagers grew from about 4 billion won in 2019 to 685.3 billion won last year. This indicates that the generation that first held smartphones accepts digital transfers as the most natural means of handling ceremonial occasions.
Among those aged 50 and older, both transfer amounts and the number of transactions have grown steadily each year, and in 2021, a transfer record was confirmed from a 103-year-old user. The practice of giving pocket money or checking in on distant family members has shifted to digital channels.
"The care once shown by placing crisp bills in a paper envelope is now being carried on through KakaoPay's 'digital money transfer envelopes,'" KakaoPay said. "Even as technology changes, the essence of congratulating or consoling someone remains unchanged, and we will continue to create warm financial services that connect people with people."
