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S. Korea's Card Spending Rises 7% in July Despite Pandemic

Written: 2021-08-09 09:43:27Updated: 2021-08-09 11:30:48

S. Korea's Card Spending Rises 7% in July Despite Pandemic

Photo : YONHAP News

Monthly online credit card spending in South Korea increased by seven percent in July from a year earlier despite the resurgence of the COVID-19 pandemic.

Rep. Park Kwang-on from the ruling Democratic Party presented the data after an analysis from Shinhan Card. Spending made with cards issued by the card firm came to over 14-point-one trillion won in July, up seven percent on-year. 

It marks a growth of eleven-point-four percent from July 2019, before the outbreak of the epidemic in the country. 

Offline card spending increased three-and-a-half percent on-year in July, while online card spending jumped 28-point-two percent as more people turned to non-face-to-face spending. 

The fourth wave of the pandemic and the upgrade of social distancing to the highest Level Four appeared to have made little impact on people's spending. 

However, card spending for accommodations and restaurants plunged 17-point-eight percent on-year last month.

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