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Because of high inflation, the amount of condolences given at funerals, similar to wedding gifts, has risen to 100,000 South Korean won.

As per KakaoPay’s newly published *10th Anniversary Report on the Launch of the Money Transfer Service*, the share of envelope usage in overall transfers rose from 13% in 2019 to 23% in the previous year.

In the last ten years, the total number of KakaoPay money transfer envelopes utilized amounted to 454.87 million. The most commonly used envelope was *Payment Completed*, with 126.63 million instances over the course of a decade. This was closely followed by *My Heart*, *Wedding Congratulations*, and *Thank You*.

Transfers associated with celebrations and mourning also saw an increase. The usage of *Wedding Congratulations* envelopes in 2023 was roughly 4.6 times more than in 2019. The typical amount sent through congratulatory envelopes was 50,000 Korean won up until 2022, but in 2023, 100,000 Korean won became the most common amount.

For the first time, the percentage of 100,000 Korean won in sympathy cards exceeded that of 50,000 Korean won. This is seen as indicating the influence of increasing prices and shifts in celebration and sympathy customs on digital transfer information.

The norms regarding expenses for celebrations and condolences, as viewed by office employees, followed a comparable pattern. According to a survey of 844 office workers carried out by HR technology firm Incruit in May of the previous year, 60.1% indicated that 100,000 Korean won was the most suitable amount for giving congratulatory money to a colleague from the same team who is not particularly close and only met during collaborations. Incruit noted, “This reflects the impact of increasing prices.”

The group of users utilizing KakaoPay transfers has also grown. The total transfer amount by teenagers rose from approximately 4 billion South Korean won in 2019 to 685.3 billion South Korean won last year. The use among middle-aged and elderly people aged 50 and older has also seen annual growth, with a record set in 2021 when a 103-year-old individual was confirmed to have used KakaoPay transfers.

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