South Korean millennials are reeling from the Bitcoin bust


For months, Seoul resident Ye-won Oh monitored cryptocurrency markets voraciously, refreshing her phone practically every minute of every day. In early 2017, she invested $40,000 in Ethereum, which has become wildly popular in South Korea. Like many young Koreans living through Korea’s difficult economy, she came to see her investment as “the only way out.”

The 20-something has an impressive resume: a senior role at a flourishing startup, a college degree from overseas, and work experience at some of Korea’s most enviable firms. But she and her husband can’t afford housing in a city where the average deposit for an apartment rental is more than $400,000. “People like us, people just starting our careers and college students, it’s really...

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