Korea overseas card spending near 3-year high on travelers

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The story "Korea overseas card spending near 3-year high on travelers" was covered 2 months ago by Korea Economic Daily, a news publisher based in South Korea.

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Korea overseas card spending near 3-year high on travelers - Korea Economic Daily

Quick Summary:

The amount of money spent by the residents with cards, including credit and debit cards, totaled $3.8 billion in the July-September period, the largest since the fourth quarter of 2019, central bank data showed on Tuesday.

Payments for purchases from overseas online shopping malls skidded 5.5% to $980 million in the third quarter from the prior three months.The won depreciated 5.8% against the dollar on average in the July-September period from the second quarter.

Overseas card spending by residents in South Korea rose to a nearly three-year high in the third quarter as international travel surged with countries worldwide opening up their borders amid waning COVID-19.