Use of corporate cards at luxury bars plummets

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Use of corporate cards at luxury bars plummets

Use of corporate cards at luxury bars and restaurants fell substantially in the first six months this year from a year earlier, government data showed Thursday, as the antigraft law that took effect last September bans businesses from treating government officials, teachers and journalists to expensive meals and drinks.

The amount spent dropped 44.8 billion won ($39.2 million), or 8.8 percent, to 467.2 billion won for the January-June period of 2017 from 512 billion won a year earlier, according to data by the National Tax Service (NTS).

The amount used at luxury bars, mostly in the affluent southern district of Gangnam in Seoul, declined 16.4 percent to 250.9 billion won.

The antigraft law did not affect the use of corporate cards at golf courses as the amount edged down 0.1 percent to 519.2 billion won.

Yonhap

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