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Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

Increased overseas visits push card spending to record high

By Chung Joo-won

Published : Dec. 2, 2012 - 20:44

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The prolonged economic slump at home and abroad is prompting consumers, companies and government organizations to tighten their belts. But card spending overseas appears to be going against the trend.

According to data from the Bank of Korea, the nation’s overseas credit card payments in the third quarter amounted to about $2.37 billion, setting a new record.

BOK officials attributed the overseas card spending increase to the rise in the number of Korean visitors to foreign countries. In the period, about 3.7 million Koreans made overseas visits.

By Chung Joo-won (joowonc@heraldcorp.com)

Increased overseas visits push card spending to record high

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