South Korea posted a record deficit in its tourism account in January due to a surge in the number of South Koreans traveling abroad during winter vacations.
According to preliminary data from the Bank of Korea on Tuesday, the country's service account posted a deficit of four-point-49 billion dollars in January, setting a fresh record.
In particular, the country's tourism deficit hit a record two-point-16 billion dollars, as tourism revenue spent by foreigners in South Korea marked one-point-09 billion dollars, while South Koreans spent a record three-point-24 billion dollars abroad.
The deficit is attributed to a record on-year increase of 22-point-four percent in the number of Koreans traveling abroad and a 46 percent decrease of Chinese tourists visiting South Korea.
The country's current account surplus reached two-point-68 billion dollars in January, posting a surplus for the 71st consecutive month since March 2012.
The goods account surplus came to eight-point-11 billion dollars.