South Koreans’ overseas card spending fell slightly in the first three months of the year from three months earlier due to a fall in overseas direct purchases, central bank data showed Wednesday.

The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to US$5.18 billion in the January-March period, compared with $5.19 billion three months earlier, according to the data from the Bank of Korea (BOK).

The central bank said the overseas card spending decreased as a fall in overseas direct purchases by cards offset an increase in overseas travelers’ spending.

The number of outbound travelers stood at 7.42 million in the first quarter, sharply up from 6.52 million the previous quarter, industry data showed.

Overseas direct purchases via credit cards stood at $1.24 billion in the January-March period, down from $1.49 billion three months earlier, according to the data.

Overseas spending through credit cards by South Koreans jumped 32 percent last year on the back
of increased overseas travel and more direct purchases.

Source: Yonhap News Agency