Pet Ownership: Economic Burden and Environmental Considerations in the Age of Petconomy The Economic Reality of Pet Ownership In recent years, the pet population has been rapidly increasing, giving rise to a new economic sector known as "petconomy." According to the 2023 Korean Pet Industry Report, approximately 5.52 million households in South Korea currently own pets, and the pet-related market size is estimated to be 7 trillion KRW, with projections that it will exceed 15 trillion KRW by 2030. This shift indicates that pet ownership is no longer just about keeping animals but has evolved into a new consumer culture. The Growth of Petconomy and Its Economic Impact The term "petconomy" refers to all economic activities related to pets, encompassing a wide range of industries. As expenditures on improving the quality of life for pets have increased, the petconomy has seen explosive growth in recent years. The aforementioned 2023 report highlights that the domestic p...
Our worst sin against our fellow man is not hating people, but indifference. Environmental Stories with Small Actions Stories of nature practice together