My wallet and I took a trip into the heart of the K-pop photocard business machine. We barely survived.

"I first reported on the K-pop photo card business in June. Last month, I took a trip to Seoul, where I visited a chain of stores that sells photocards. A woman beside me splashed out $300 for one card. I spent a third less on a bigger haul."

"I must ask you not to judge me. In June, I reported on the "boy paper" phenomenon, the booming business of K-pop photo card trading. At the time, I was a casual collector of photo cards of Joshua Hong, a member of the boy band Seventeen. My collection was small, and I maintained it by organizing swaps with other fans. I said at the time, with great gusto and bravery, that I'd never become a person who'd spend more than $10 on a photocard. Three months on, after a jam-packed Seoul shopping trip, I can't say that anymore."

A casual collector of Joshua Hong photocards maintained a small collection by organizing swaps with other fans. The collector had vowed never to spend more than $10 on a photocard. A recent trip to Seoul included visits to a chain of stores selling photocards, where a woman spent $300 on a single card. The collector spent about a third less while purchasing a larger haul. After the intense shopping trip, prior spending limits on photocards changed. The experience illustrates rapid escalation of spending in the K‑pop photocard market.

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