Koreans' Overseas Credit Card Purchases on the Rise

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Koreans' Overseas Credit Card Purchases on the Rise

Koreans are making more purchases and spending mre money overseas.
According to the 'Results of credit card use abroad in 1999' issued by the Bank of Korea on March 21, Koreans spent $911 million in 1999. That figure is a 59.3 percent increase from the $572 million spent last year.
The figure has steadily increased since the first quarter of 1998 ($124 million). The number of credit card users has also increased from last year by 32.3 percent.
On the other hand, foreigners in Korea racked up 1.234 billion dollars in credit card charges last year. Though the amount increased by 26.6 percent from 1998, the number of users (24,900,000) decreased by 10.9 percent.

by Im Bong-soo

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