0211-Each Korean spends 933,531 won for Seollal

Each person spends more than 900,000 won on preparing for the Lunar New Year holidays, according to a recent survey.

The survey of 371 adult residents in Seoul shows that celebrating Seollal, one of the biggest traditional holidays, costs every person an average of 933,531 won ($852).

The poll was conducted by the Korea Consumer Affairs Institute.

According to the survey, the respondents spend 244,980 won on average on gifts for their family members, relatives and acquaints.

They also set aside 227,951 won on average to give pocket money to their parents, while spending 150,539 won on average to purchase clothes for children and give them pocket money.

The respondents were also found to earmark 141,590 won for ancestral rites and foods.

As for the gifts, fruits and other agricultural products are popular among the surveyed who said they spend 60,000 won to 100,000 won on these items.