- Paying $675 for a romantic outing: Exploring Korea's strategies to combat singleness
Stunning scenery, captivating shows, delicious cuisine, and of course, K-Pop: South Korea is capturing everyone's attention. However, the Eastern nation is facing its own issues: the population is aging, and young people are having far too few children. The city of Busan is attempting to alter this trend of living alone by hosting a unique festival, even offering financial incentives.
In October, the Saha district is rekindling romance in Busan with a massive blind date event. Directed at residents and workers between 23 and 43, foreigners are welcome to participate as potential dates, the authority announced in June. Those who find love could be in for a substantial windfall.
Unique Event: Money for Dating
The prizes are structured. Couples who start a relationship following the date receive one million won (approximately 675 euros) from the government. If it leads to a "sang-gyeon-rye" – a traditional meeting of families before marriage – an additional two million won is added. And if the couple gets married, the city contributes an extra 20 million won. In total, a couple could earn around 15,000 euros in rewards for a "successful" participation in the event, plus an additional five years of housing expenses.
However, not all details have been disclosed yet. Participants must express their interest explicitly. If the event proves to be a success, the city may consider making it an annual tradition.
South Korea Faces a Decreasing Population
Busan is not alone in its innovative approach. Throughout the country, authorities are trying to address the plummeting population. The severe decrease in birth rates is a significant concern. In 1970, the average South Korean woman had 4.5 offspring, but by 1980, that number had already dropped to two, with a continuous downward trend. In 2018, the average fell below one child per woman for the first time, and in 2019, it was only 0.7 children – one of the lowest globally.
The decline has multiple causes, including the rising cost of housing and education, and mothers' hesitation to have a second child. However, the trend towards singleness may have the most significant impact. Consciously choosing not to marry has become so common that it now has its own term: Bihon. And the number of Bihon is increasing.
Singleness as a Movement
More than 50% of Korean men in their thirties are now single, and when considering both genders, it's 42.5% – an increase of 13.3% in the past ten years, according to "Nikkei Asia." Only 17.6% of survey participants last year considered marriage a "must" in their lives. Reasons for not marrying included increased expenses and the stress of parenthood.
The impact on the economy could worsen the situation. Major employers like LG are increasingly providing wedding perks to singles, such as extra vacation days or a bouquet instead of a bride's bouquet, as long as they register as Bihon. For example, NH Investment and Securities explained that they do not wish to deny marriage benefits to conscious singles.
The long-term consequences remain to be seen. An increasing number of women are keeping their options open to have children later by freezing their eggs. At the Marien Hospital in Seoul alone, the number has tripled in the past five years, according to "VOA News." "I'm one of those who do not want children," admits 35-year-old Lee Jang-mi to the site. "You want to do other things, work, learn. For me, it's surfing." That's why she's considering freezing her eggs. "If I ever regret it later, it would be too late to change my mind."
The unique festival in Busan aims to encourage romantic connections and combat the trend of living alone, offering financial incentives up to 15,000 euros for successful participations. The increasing number of Bihon, or single individuals in their thirties, is contributing significantly to the decrease in South Korea's birth rate, as consciously choosing not to marry has become more common.
