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S. Koreans' overseas card spending slips in Q1

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(Globalpost/GlobalPost)

SEOUL, May 30 (Yonhap) -- Overseas credit card spending by South Koreans inched down in the first quarter from a record high three months earlier as the volume of spending per person declined, central bank data showed Friday.

Overseas credit card bills totaled US$2.82 billion in the January-March period, down 0.2 percent from the previous quarter when the amount soared to a record high of $2.83 billion, according to the data by the Bank of Korea.

The central bank noted that while the number of credit card users overseas increased as more people headed abroad, the amount they spent continued to fall.

The number of credit card users jumped 22.8 percent on-year to 6.93 million, while the amount spent by each person slipped 7.4 percent to an average of $407, according to the data.

The amount of overseas credit card spending per person has been falling since the fourth quarter of 2012, when the figure hit $474.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140529/s-koreans-overseas-card-spending-slips-q1-0