Pet industry in South Korea - statistics & facts
The pet industry is growing in South Korea. The number of Koreans who own pets has continued to increase. Following this trend, a few pet-related novel words including Petfam and Petconomy have emerged in the country. Petfam (pet+family) refers to a family that treats pets as a family and Petconomy (pet and economy) means economic activities in which the pet-related products or services generate profits. Behind this pet-loving culture, there lies an increased number of single households or two-person households due to the low birth rate and aging population. Pet owners usually take great care and investment because they accept pets as part of their family.
