The Art of Korean Cash Gifts

Cash is a practical and universal gift, and in Korea, it is commonly given to celebrate birthdays, holidays, weddings, and other special occasions. Representing prosperity and good fortune, the customs surrounding its presentation are rooted in the nation’s strong sense of community and shared value of generosity.

For Korean Lunar New Year, amongst celebrations of family and ancestors, children are given cash, which is often presented after the child performs a ceremonial bow to an older family member. Placed into a bokjumeoni, or ‘lucky pouch’, which can be worn with traditional Korean attire, the money offers opportunities for financial education as each child decides how and when to spend it, similar to cash given during Eid and Chinese New Year celebrations.

When attending the first birthday party of a new child—which is often an elaborate celebration—it is common to place cash gifts into an envelope provided upon entry, with the amount given depending upon the closeness of one’s relationship to the parents. While casual acquaintances may only give around 30,000–50,000 won (up to $40/€35), close friends may give up to 200,000 won, and family members will likely give even more.

Weddings are also a popular occasion for cash gifting. Upon entering a wedding hall, one of the first stops for a guest is a counter for the happy couple where one can place an envelope of cash with one’s name written on the back. A 2022 Statista survey suggests 50,000 won is the most popular amount to give, closely followed by 100,000 won. The amount given is likely to be noted, so the newlyweds can reciprocate appropriately at the next occasion where they present the gifter with cash.

The gifting of cash has deep-rooted symbolism, representing wisdom and good wishes being handed from older generations to younger, or serving as a token of gratitude and kinship when exchanged by colleagues and friends. On the practical side, it is also a valued way of offsetting the costs of lavish celebrations, and avoiding the embarrassment of giving a gift that—while perhaps expensive—may not wanted or appreciated, unlike cash.