Korean New Year (Seollal) Is Coming Up, How Much Cash Should We Prepare?

The Korean Lunar New Year (Seollal) holiday starts tomorrow. 🎉 UoH will be publishing some content as part of our Seollal series. Stay tuned and let us know what you think!

1. What Is 세뱃돈(Sebetdon)?

세뱃돈(Sebetdon) is New Year’s Cash Gifts. It’s the money that children receive on Lunar New Year’s Day in return of giving a 세배 (traditional bow) from adult family members or friends. It’s a common custom during the Korean New Year holidays.

2. What Is 세배(Sebae)?

세배(Sebae) is a Korean New Year’s morning ritual in which the younger person bows to the older person and wishes them a happy new year. The order, position, and gestures are different for men and women. In principle, hanbok is worn during the ceremony, but in modern society, many families don’t wear hanbok. Also, women are more likely to give 세배 as the male version in the modern world.

3. How To 세배(Sebae)?

How Much 세뱃돈 Should You Prepare Or Expect In 2024?

According to a survey conducted by KB Card, when asked, “How much New Year’s cash is appropriate?” the most common answer was KRW 10,000 for preschoolers and KRW 50,000 for elementary, middle, and high school students, and KRW 100,000 for adults. According to a survey conducted by Hanwha Life Insurance, the most common cash for parents was KRW 300,000, followed by KRW 200,000 and KRW 500,000.

Most Frequently Asked Questions

• Giving New Year’s cash varies from family to family. Some adults only give money to students under the age of 20, some to pre-college students, and some to adults. The amount of money gets bigger and bigger as you get older, with high school students usually getting at least KRW 50,000.

• 세배(Sebae) is the custom of a younger person to an older person, so parents don’t sebae their children. However, many children do give their parents pocket money to celebrate the Lunar New Year.

• Because of this New Year’s cash culture, there is also a “Seollal Syndrome” where some people avoid celebrating the Lunar New Year. For example, if an older adult is unemployed or struggling financially, they may find the holiday a burden. In addition, many Koreans are asked sensitive questions such as, “When are you getting married? How much money have you saved? Have you bought a house?”

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