Informal social networks in Korea: Covering the cost of major life events

Ram A. Cnaan, Chul Hee Kang, Kyo seong Kim, Lewis Hyukseung Lee

Research output: Contribution to journalArticlepeer-review

4 Citations (Scopus)

Abstract

This article investigates an informal voluntary social arrangement for financial assistance with discrete major life events known in Korea as Sang-Ho-Bu-Jo. This informal voluntary arrangement is neither public nor private, but is based on social networks that produce a unique form of civic society. Sang-Ho-Bu-Jo covers people's transitional one-time needs. This study explores the practice of Sang-Ho-Bu-Jo and its origins and provides the first systematic empirical study of this social phenomenon. Three large databases are used to analyze the scope and level of participation, as well as what variables correlate with such involvement. The study finds a high rate of participation, over 80% of households, and an average investment of 2-4% of household expenditure. Sang-Ho-Bu-Jo can help scholars and policy makers worldwide in understanding the role of socialization, social networks, and social capital in explaining innovative informal methods of social care.

Original languageEnglish
Pages (from-to)627-637
Number of pages11
JournalSocial Science Journal
Volume51
Issue number4
DOIs
Publication statusPublished - 2014 Dec 1

Bibliographical note

Publisher Copyright:
© 2014 Western Social Science Association.

All Science Journal Classification (ASJC) codes

  • Social Psychology
  • Sociology and Political Science

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