Photo by Mark Oflynn via Unsplash.

South Koreans’ card spending up 32% to $19.22b in 2023: report

The number of Koreans who traveled overseas tripled in 2023.

South Koreans’ overseas card spending rose 32% in 2023, reports Yonhap, based on data from the Bank of Korea (BOK).

Koreans spent a total of $19.22b overseas with their cards– including credit and debit cards– in 2023. This is almost $5b higher than the $14.54b they spent using their cards in 2022.

The rise was a result of more people going abroad, and increased overseas purchases, according to BOK data.

The number of outbound travelers stood at 22.72 million in 2023, more than triple the 6.55 Koreans who traveled a year earlier, Yonhap reported, referring to industry data. 

Koreans spent $5.17b using their credit cards in 2023, up from $4.14b spent using credit cards in 2022, BOK data showed.

(The original article was published by Yonhap News Agency and was written by Park Sang-soo)

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Lorem Ipsum Content on ABF
The text to display in the title bar of a visitor's web browser when they view this page. 
Lorem Ipsum
Contrary to popular belief, Lorem Ipsum is not simply random text.