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Card spending climbs nearly 7% in third quarter

Published: 31 Oct. 2025, 12:24 Updated: 31 Oct. 2025, 14:18

A customer pays in credit card at a store in Seoul on Oct. 1. [YONHAP]

Credit card spending rose by almost 7 percent in the third quarter from a year earlier, driven by a rise in stock prices and stimulus cash handouts, data showed Friday.

Spending made with credit, debit and prepaid cards came to 328 trillion won ($229 billion) in the July to September period, up 6.7 percent from the same period last year, according to the data compiled by the Credit Finance Association.

The number of approved card settlements climbed 5.5 percent on-year to 7.83 billion cases over the cited period.

The rise in card spending came as domestic demand has been on a recovery track on the back of a bull run on the local stock market and cash handouts, the association said.

Spending with corporate cards rose 10.3 percent on-year to 62.2 trillion won, and that by individuals gained 5.9 percent to 265.7 trillion won, according to the data.

In September, the government launched another round of cash handouts, providing 100,000 won per person to around 90 percent of citizens, following an earlier round in July that offered 150,000 won each to all citizens.

Yonhap