South Korean households’ spending on family events grew for the first time in six quarters.
According to Statistics Korea on Sunday, households comprising of two people or more spent on average 205-thousand won a month as gift money or condolence money for weddings, funerals and other ceremonies for relatives and friends in the second quarter, up seven-point-eight percent from a year ago.
The government said the spending seems to have increased as more couples got married in the second quarter in order to avoid the lunar leap month, which starts in June, and more gift money was paid for parents who went on trips during the long holidays in May.
The spending, which increased until the fourth quarter in 2015, decreased for five straight quarters since the first quarter of last year.
The sharp decrease since the third quarter of last year was attributed to the strong anti-graft law, which took effect in September last year.