emirates7 - According to a report by Yonhap, South Koreans' overseas card spending remained steady in the second quarter compared to the previous quarter, as a decline in demand for overseas travel balanced out the increase in direct overseas purchases.
Data from the Bank of Korea (BOK) revealed that South Koreans spent a total of US$5.18 billion using credit and debit cards abroad between April and June, matching the amount spent in the first quarter.
However, compared to the same period last year, overseas card spending saw an 11.6 percent rise from $4.65 billion.
During the second quarter, the number of outbound travelers decreased by 11.1 percent to 6.59 million, while overseas direct purchases made with credit cards increased by 6.2 percent, reaching $1.47 billion, according to the data.
Data from the Bank of Korea (BOK) revealed that South Koreans spent a total of US$5.18 billion using credit and debit cards abroad between April and June, matching the amount spent in the first quarter.
However, compared to the same period last year, overseas card spending saw an 11.6 percent rise from $4.65 billion.
During the second quarter, the number of outbound travelers decreased by 11.1 percent to 6.59 million, while overseas direct purchases made with credit cards increased by 6.2 percent, reaching $1.47 billion, according to the data.