Overseas spending by South Koreans posted a sharp increase in the first quarter.
 
According to preliminary data by the Bank of Korea (BOK) on Sunday, South Koreans spent six-point-95 trillion won, or about five-point-95 billion U.S. dollars abroad in the January-March period. 
 
That's up 12-point-nine percent year-on-year. The first-quarter figure marked an increase of two tenths of a percent from the previous quarter.
 
The rise is attributed to a sharp increase in travelers going abroad. According to data by the Korea Tourism Organization, five-point-55 million South Koreans traveled abroad in the first quarter, up 18-point-three percent on-year.
 
Spending by foreign visitors in South Korea also marked an on-year increase of 13-point-four percent to four-point-two trillion won in the first quarter, with the number of foreigners visiting the country posing an on-year increase of 12-point-one percent to three-point-six million.