Delayed and Canceled Weddings

The number of couples who are delaying or canceling their marriage plans has increased after the IMF bailout. According to a survey of 300 couples by Sunwoo Event, a wedding event company, 66 couples (22%) have delayed or canceled their marriage plans.
Among them, 35 couples broke up due to economic difficulties. This includes the insolvency of the company where one of the partners works and the increase in personal debt. Fourteen couples broke up due to psychological problems stemming from the sluggish economy.
The cost of weddings has decreased sharply. The total cost of weddings except for housing decreased by 26.6% from 26 million won to 19 million won. The cost of housing decreased by 25.8% from 54 million won to 40 million won. The cost for honeymoons decreased by 31.2% to 1.5 million won.