South Koreans’ overseas credit card spending rose to an all-time high in the third quarter as the sheer number of overseas card users rose, the central bank said Wednesday.
Overseas credit card bills totaled US$ 2.3 billion in the July-September period, up 6.1 percent from three months earlier, according to the Bank of Korea (BOK).
But the third-quarter growth slowed from an 8.2 percent on-quarter gain in the second quarter.
The BOK said that the number of credit card users increased even though the amount of spending per person declined.
In the cited period, the number of outbound local residents rose 19 percent on-quarter to 3.5 million.