Where in the World Does It Cost $200K to Wed?
It’s a no-brainer: wedding costs add up. But in society-conscious South Korea, where cultural customs are also heavily factored into the budget, couples typically pay up to roughly $200,000 — and that’s four times the national annual income!
So where exactly does all the money go? Reuters reports that Korean marriage traditions require lavish gift exchanges between the two families (we’re talking mink coats and Rolex watches), along with the groom to shell out cash for a new house.
To keep up with these extravagant costs — and maintain their family’s social reputation and connections — couples are taking out huge loans and racking up serious debt.
While paying for the dress, florist, photographer and what seems like a million other details is a given, it’s fascinating that geography and culture can hugely impact budget and more importantly, wedding values.
Are cultural traditions playing a huge part in your budgeting?