"Sebae," a new year's greeting consisting of a full bow to one's elders, is a time-honored tradition in Korea with handsome cash rewards promised in the form of "sebaedon," or sebae money.

But a recent survey by SK Communications indicates that many South Koreans would rather skip the tradition altogether, with 42.8 percent of the respondents saying they would prefer not to give or receive any sebae money.

The tech company asked 3,892 adults across the country from Jan. 13-22 what they thought would be the proper amount to give or receive as sebae money. A full 1,668 -- 42.8 percent -- said they would not partake in the money exchange because it "puts pressure on both sides." Another 1,653 -- 42.5 percent -- said that 50,000 won ($38) is the right amount -- the highest denomination for a banknote in South Korea.

Ten percent of the respondents chose 100,000 won, while two percent said it should be more given recent inflation.

In last year's survey on the same topic, 29 percent of the respondents had said they would not give or receive sebae money, with 43 percent voting for 50,000 won.

"This survey hints that the public's perception toward sebaedon culture is changing, as the percentage of those who prefer not to give or receive the money has increased substantially," a SK communications official said about the results.