Like a son but cheaper: South Koreans pamper pets instead of having kids

South Korea's demographic crisis with record low birth rate is turning the country's $2.4 billion pet-related industry into one of the fastest growing in the world. A 39-year-old dog owner, Kang Sung-il, who got married in 2011, treats his white Pomeranian dog, Sancho, like a son. He buys him a toy from every business trip and plans to dress him up in a new $50 suit for the Lunar New Year visit to "grandma," Kang's mother.