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S. Koreans' Overseas Credit Card Spending Hits Record High in Q2

Written: 2017-08-24 08:50:46Updated: 2017-08-24 15:11:02

S. Koreans' Overseas Credit Card Spending Hits Record High in Q2

South Koreans' credit card spending overseas hit a record high in the second quarter.
 
According to Bank of Korea data released on Thursday, South Korean nationals swiped their cards for purchases totaling a record four-point-18 billion U.S. dollars in the April-to-June period, up four percent from the previous quarter.
 
The figure surpassed the four-billion-dollar mark for the first time in the first quarter and hit another record high in the second quarter. Based on the average exchange rate, overseas card spending reached four-point-73 trillion Korean won. 
 
The hike is attributed to the convenience of credit card spending and a rise in the number of South Koreans traveling abroad.


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