An owner checks her dog via a mobile app connected to an interactive play service, dubbed PetToy, in a demonstration event in Seoul. LG Uplus launched the services in 2022 and has since acquired a lodging reservation platform for pet owners. Photo courtesy of LG Uplus
Pet-related industries are growing fast in South Korea, where a growing number of people are choosing dogs or cats over children.
LG Uplus, the country’s top mobile operator, said Tuesday it has acquired a local startup called Along — an Airbnb-like service provider for pets — for an undisclosed amount. Advertisement
Along is reservation platform that allows dog and cat owners to search for pet-friendly accommodations, such as those with swimming pools and/or large lawns, for travels that include their furry companions.
This is not the first time that LG Uplus has focused on pet technology. Last year, it launched PetToy, an interactive app that enables people to engage with their pets via smartphones.
Taking advantage of its information-communication technological expertise, the company plans to also develop a pet-care platform that matches pet owners with grooming salons or pet cafes next year.
Two years ago, LG Electronics — LG Uplus’s sister company — introduced an air purifier with a specific function for removing pet smells and hair.
Other companies are also venturing into the lucrative market, including Pet Forest and Varram.
Pet Forest boasts qualified funeral directors who provide premium funeral services for pets, including cremation, at a facility near Seoul. Advertisement
Varram has developed pet-friendly robots, which can move among pets and can even give them snacks. The robot’s cruising speed and the number of times the snacks are dispensed can be adjusted as required by the pet owner.
“The pet industry is expected to keep expanding in South Korea because there is a growing portion of the population who are deciding to raise dogs or cats instead of children,” business tracker Leaders Index CEO Park Ju-gun told UPI News Korea.
South Korea now holds the world’s lowest fertility rate. The average number of kids born to a woman during her reproductive period was 0.78 in 2022, far lower than the 2.1 necessary to maintain the nation’s population of 51 million people.
Marriages have also dropped abruptly. According to Statistics Korea, fewer than 200,000 couples tied the knot last year, the lowest since 1970.
In comparison, it was estimated in a survey of 2,000 households last year by KB Management Institute that 5.52 million households, some 25.7% of Korea’s households, had at one time or another kept pets.
That percentage is expected to only increase as 78.7% of those who had never owned pets expressed interest in having a cat or dog in the future. Advertisement
Korea’s Ministry of Agriculture, Food and Rural Affairs expected Korea’s pet care industry to go from $6 billion in 2023 to $11 billion by 2027.
