According to the Bank of Korea, South Koreans’ overseas card spending rose 1 percent in the second quarter of the year due to increased overseas travels and direct purchases. The amount spent outside the country totaled $4.65 billion in the April-June period, a 26.9 percent increase from the same period the year before. The strengthening of the Korean won and eased coronavirus curbs have been attributed to the growth in spending abroad.
Though the number of outbound travelers dropped slightly from the previous quarter to 4.95 million, direct purchases via credit cards increased 3.8 percent. Last year, overseas card spending rose almost 19 percent to $14.54 billion.