15 MILLION HAD PETS IN 2022
As fewer South Korean couples have children, many are channelling their nurturing instincts into raising pets.
The country’s fertility rate hit a record low of 0.72 in 2023 – far below the replacement level of 2.1 needed to maintain a stable population. But this rose last year for the first time in nine years to 0.75, supported by an increase in marriages.
According to South Korea’s Ministry of Agriculture, Food and Rural Affairs, about 15 million people in the country were raising pets as of end-2022, with a majority having dogs.
The size of the related market stood at about US$5.7 billion then and is estimated to reach about US$15 billion by 2027.
Like children’s education, pet education in the country does not come cheap.
According to the Korea Consumer Agency, the average monthly cost for a dog to attend kindergarten in Seoul last year was about 255,000 won (US$180) – higher than the average cost of early childhood education in the capital city.
As the pet industry grows in South Korea, experts say demand will not just be for kindergartens, but also senior dog care as these “children” age alongside their owners.
For dogs that do not make the cut at “schools”, they often head to training academies first where they receive targeted behaviour modification.
Dog Us Planet’s Kim noted that South Koreans often head out to work or school in the day, leaving the house empty with no companionship for their pets.
“Many guardians come to prevent problems that arise when dogs are left home alone for too long. They feel their dogs need education, though not to the level of a full training school,” she added.
“In Korea, pets are seen as family members – like children.”
Source: CNA
