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S. Koreans' Overseas Spending Hits Record High in Q3

Written: 2017-12-03 12:11:40Updated: 2017-12-03 14:05:26

S. Koreans' Overseas Spending Hits Record High in Q3

South Koreans' overseas spending hit a record high in the third quarter as more people opted to go on overseas trips.

The Bank of Korea said on Saturday that South Koreans spent eight-point-58 trillion won overseas in the July-September period, up five-point-four percent from a year earlier.

Overseas spending in the third quarter, which is the summer travel season, posted growth for three straight years after dropping to around six-point-four trillion won in 2013 and six-point-two trillion won in 2014.

The cumulative overseas spending in the first nine months of this year also hit a record high of 23-point-seven trillion won, up eight-point-two percent year-on-year.

South Koreans' overseas card spending hit a record high of four-point-39 billion U.S. dollars in the third quarter. Overseas card spending includes purchases made with debit and direct payment cards, in addition to credit cards.

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