Over 60,000 South Korean citizens spent more than $5,000 using their credit cards in the first quarter of 2014.
Their combined spending came to $695.29m during the January-March period, Yonhap News Agency reported quoting data released by the Korea Customs Service.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The amount represented 24.6% of the total first-quarter overseas credit card spending, which stood at $2.82bn, the data showed.
According to the data, their per-capita spending was $11,575, much higher than the average card spending of $407.
The number of people whose overseas credit card spending exceeded $50,000 came to 886. Their combined spending was $88.47m.
The relatively large amount of overseas credit card spending was attributed to the won’s steady ascent against the US dollar, which helped increase the purchasing power of local consumers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
