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South Korea's card spending accelerated last year largely thanks to an economic recovery and the growing number of purchases with plastic, data showed on Friday.
Purchases made with credit cards totaled 578.6 trillion won ($527 billion) last year, up 6.1 percent from the 545 trillion won a year earlier, according to the Credit Finance Association.
Last year's gain is higher than the 4.7-percent on-year expansion the previous year, the association said.
The data include the use of credit, debit and prepaid cards.
Cash advances, overseas spending and card loans were not included.
South Koreans carry multiple credit cards, which in part contributed to shoring up private spending in the past few years.
The association said credit card spending rose 3.1 percent on-year to reach 463 trillion won last year, with debit cards soaring 20.8 percent to 113.59 trillion won over the cited period.
In 2014, the South Korean economy, Asia's fourth-largest, expanded 3.3 percent, compared with a 3 percent growth in 2013. In 2012, the economy grew 2.3 percent.
For the year, the Bank of Korea expects a 3.4 percent growth, while the government projects a 3.8 percent expansion. (Yonhap)
Purchases made with credit cards totaled 578.6 trillion won ($527 billion) last year, up 6.1 percent from the 545 trillion won a year earlier, according to the Credit Finance Association.
Last year's gain is higher than the 4.7-percent on-year expansion the previous year, the association said.
The data include the use of credit, debit and prepaid cards.
Cash advances, overseas spending and card loans were not included.
South Koreans carry multiple credit cards, which in part contributed to shoring up private spending in the past few years.
The association said credit card spending rose 3.1 percent on-year to reach 463 trillion won last year, with debit cards soaring 20.8 percent to 113.59 trillion won over the cited period.
In 2014, the South Korean economy, Asia's fourth-largest, expanded 3.3 percent, compared with a 3 percent growth in 2013. In 2012, the economy grew 2.3 percent.
For the year, the Bank of Korea expects a 3.4 percent growth, while the government projects a 3.8 percent expansion. (Yonhap)
