Korea’s “shocking” marriage is an opportunity for dating apps, says Asian CEO of Match Group
South Korea– Children in East Asian Marriage and Childbirth Descending Poster are like the strange target market for Match Group, the operator of dating platforms like Tinder Hinge.
When it comes to long-term relationships, “Korea has a sharp challenge,” notes Margosia Green, Asia CEO of Match, who has “a rather shocking” marriages have fallen by 40% over the 10-year period.
Match Group recently launched a manufacturing version of pairing apps aimed at people looking for more serious relationships and marriage, as opposed to more casual apps like Tinder and Hinge. (Match also offers Tinder in Korea)
Green believes the pair is suitable for South Korea given the success of the app in neighboring Japan. Reduction population.
Extrapolating from government data, she suggests that one in ten in Japan happens for a pair. “25% of marriages in Japan are made through dating apps. We can guess that share because the pair is the leader in Japan,” she explains.
Match has tailored pairs to suit the East Asian market. The app asks users difficult questions such as “How often do you want to see your mother in law” or “I want a child.” Any date is troublesome, but especially in East Asia, where people tend to be more cautious.
The pair doesn’t surface these answers publicly, but the app tries to match those who follow these “real mindmatch” questions.
“This is a market-oriented approach to the Korean market,” says Green.
Demographic changes in Asia
Despite a mild increase in births and marriages last year, Korea’s Demographic status It is the most extreme of East Asian society, followed by Japan, among other countries such as Singapore, Taiwan, Hong Kong, mainland China.
South Korea reported 222,400 marriages in 2024, down from 322,807 in 2013. The birth rate fell over the same period, falling to 0.75 children born per woman in 2024, down from 1.19 children in 2013.
Where will you go next in Asia?
Match reported revenue of $3.5 billion in 2024, up 3%. However, Asian revenues fell 6% over the same period to $284 million. Global Pay users also reached 14.9 million users, down 5% from the previous year.
Recent company I’ll bring it Zillow co-founder Spencer Rascoff became CEO in February, trying to attract more users.
Still, Green believes that the Asia-Pacific region has seen a new opportunity for matches, a decline in revenue in the region for 2024, and has increased 9% to reach 1 million users to Asian users.
Japan and South Korea not only try to give financial incentives to encourage people to have children, but also actively try to get governments to meet people through events like organized speed dating. Green says the match has already been partnered with the Japanese prefectural government.
Match is currently focusing on South Korea, but Green is looking to India as the company’s next goal in Asia.
Despite the long history of marriage, Green says that today Indian parents want their children to give more agents. Greene is more accepting today than five years ago, marriage for love is more acceptable than it was, Greene cites survey data.
“We’re seeing opportunities for wedding-oriented apps that were expensive,” Green says. “No one plays that space on a large scale.”
This story was originally introduced Fortune.com