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Koreans Bring Less Cash to Weddings amid Downturn

Written: 2016-06-17 15:21:25Updated: 2016-06-17 15:39:15

Koreans Bring Less Cash to Weddings amid Downturn

Amid the sluggish economic recovery, the amounts of traditional cash gifts for weddings and funerals have gone down considerably in South Korea. 

According to Statistics Korea on Friday, the volume of the inter-household transfer category of the spending index fell three-point-three percent on average to just over 250 thousand won, or about 213 dollars, in the first quarter of the year.
 
Taking up the lion's share in the spending category are cash gifts Koreans bring to their friends' and relatives' weddings and funerals.
 
Other items on the expenditure list were money sent to children studying abroad and money sent to hospital patients.

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