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Pawnshops Booming Through Economic Slump

Korea Times – Getting wedding invitations has become a new stress factor for 28-year-old Cho Mi-young who already has three to attend next month. That’s because each event costs her about 50,000 to 100,000 won on congratulatory cash gifts.

Knowing that a bunch of her other friends and coworkers are getting married in the next few months, Cho decided to give up her four-year-old Prada bag and like-new Celine pumps to comfortably shoulder the expense.

“I’ll be less burdened if I secure the money ahead of time,” said the middle manager at a Seoul hotel, who recently lost nearly 50 percent of her savings through investments in Asia-focused hedge funds.

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