Korean companies set their sights on the wedding market in China. The Korea International Trade Association cited a growing middle class, looser regulations for the operation of foreign companies operating in the People's Republic, and lower customs barriers as the reasons for the increased opportunities.
The prospects for the wedding market look particularly bright. In 2012, 13 million couples got married in China. Last year, revenue from ceremonies and related celebrations reached a staggering US$20,6 billion, according to data from US market research firm Ibis.
Couples spend between 100 and 250 yuan on their wedding, at a time when the young, urban population born after 1980 benefits from economic reforms and the widespread prosperity of Chinese society. Added to this is the recent popularity of Korean soap operas in China which leads young and wealthy Chinese to prefer Korean wedding services companies, despite the higher costs.
