The funeral industry is shifting away from its traditional focus on funeral services to offer a variety of transition services, including travel, cruises, and weddings.
According to the Fair Trade Commission, as of the end of March, there were 11,074,000 subscribers to funeral products, with a total advance payment of 11.24 trillion won.
As the funeral market continues to grow, consumers are presented with an increasingly diverse range of products and services to compare and choose from. Competition among companies is intensifying, moving beyond simple price competition to focus on service quality, brand trust, and actual usability.
The industry operates a transition service system that allows subscribers to use their advance payments for other life care services such as travel, weddings, and education. This transition service enables funeral companies to convert advance payments, which are recorded as liabilities, into revenue.
From January to August this year, the number of transition service uses at Woojins Free Life nearly doubled compared to the same period last year, with travel accounting for 75% of total usage. Additionally, the number of new subscriptions for travel-specific products increased approximately 15-fold during the same period, following positive responses to a charter cruise to Hokkaido in June.
In the first half of this year, Kyowon Life reported a 137% increase in transition service usage compared to the previous year, with travel making up 64% of total usage. The travel transition service usage alone surged by 169%. Kyowon Life offers a variety of travel products in collaboration with its affiliate, Kyowon Tour.
Boramsangjo is also seeing a growing trend of customers using their advance payments for wedding preparations. From January to August this year, the usage of wedding transition services at Boramsangjo increased by 27.5% compared to the same period last year. Customers can utilize their advance payments for wedding hall rentals, studios, and dresses. Last year, Boramsangjo's wedding transition service usage rose by 13.3%. The company hosts wedding fairs twice a year and is expanding its offerings to include long-term stay services like 'living for a month.'
A Boram Group official stated, “We will continue to enhance the competitiveness of our core funeral services while expanding various transition services in weddings, travel, cruises, health, and pets, positioning ourselves as a 'life curator' that accompanies customers throughout their lives.”
According to the Fair Trade Commission, as of the end of March, there were 11,074,000 subscribers to funeral products, with a total advance payment of 11.24 trillion won.
As the funeral market continues to grow, consumers are presented with an increasingly diverse range of products and services to compare and choose from. Competition among companies is intensifying, moving beyond simple price competition to focus on service quality, brand trust, and actual usability.
The industry operates a transition service system that allows subscribers to use their advance payments for other life care services such as travel, weddings, and education. This transition service enables funeral companies to convert advance payments, which are recorded as liabilities, into revenue.
From January to August this year, the number of transition service uses at Woojins Free Life nearly doubled compared to the same period last year, with travel accounting for 75% of total usage. Additionally, the number of new subscriptions for travel-specific products increased approximately 15-fold during the same period, following positive responses to a charter cruise to Hokkaido in June.
In the first half of this year, Kyowon Life reported a 137% increase in transition service usage compared to the previous year, with travel making up 64% of total usage. The travel transition service usage alone surged by 169%. Kyowon Life offers a variety of travel products in collaboration with its affiliate, Kyowon Tour.
Boramsangjo is also seeing a growing trend of customers using their advance payments for wedding preparations. From January to August this year, the usage of wedding transition services at Boramsangjo increased by 27.5% compared to the same period last year. Customers can utilize their advance payments for wedding hall rentals, studios, and dresses. Last year, Boramsangjo's wedding transition service usage rose by 13.3%. The company hosts wedding fairs twice a year and is expanding its offerings to include long-term stay services like 'living for a month.'
A Boram Group official stated, “We will continue to enhance the competitiveness of our core funeral services while expanding various transition services in weddings, travel, cruises, health, and pets, positioning ourselves as a 'life curator' that accompanies customers throughout their lives.”
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.