Card Payments Abroad in Q2 Reach 6.8 Trillion Won... Increase in Overseas Direct Purchases

The amount spent on cards overseas by residents in Korea in the second quarter of this year was similar to that of the first quarter.

According to the 'Overseas Card Usage Performance of Residents in the Second Quarter' data released by the Bank of Korea on the 27th, the overseas card (credit + debit) spending by residents in the second quarter was $5.18 billion (6.88 trillion KRW), which was similar to the previous quarter. Compared to $4.65 billion recorded in the same period last year, it increased by 11.6%.

The Bank of Korea explained that overseas direct purchases through online shopping increased in the second quarter. The amount of overseas direct purchases by residents through online shopping in the second quarter was $1.47 billion, up 6.2% from $1.38 billion in the previous quarter.

Demand for overseas travel slowed somewhat compared to the previous quarter. The number of domestic travelers departing abroad in the second quarter was 6.598 million, down 11.1% from the previous quarter. By card type, debit card usage increased by 12.6% in the second quarter, while credit card usage decreased by 4.2%.

A Bank of Korea official stated, "While demand for overseas travel slowed somewhat compared to the previous quarter in the second quarter, overseas direct purchases through online shopping increased, maintaining residents' overseas card usage performance at the previous quarter's level."

This content was produced with the assistance of AI translation services.