S. Koreans' overseas plastic card spending rises in Q3

South Koreans' overseas plastic card spending rose in the third quarter owing to stronger demand for overseas travel and foreign products, central bank data showed Wednesday.

Using credit, check and debit cards, local residents spent 4.79 billion U.S. dollars overseas during the July-September quarter, up 3.1 percent compared to the previous quarter, according to the Bank of Korea (BOK).

It continued to expand for the sixth consecutive quarter as a higher number of domestic residents went abroad for travel amid the increased online purchase of foreign products.

The number of outbound travelers totaled 6,264,000 in the third quarter, up 26.5 percent from the previous quarter.

The direct overseas purchases through online shopping increased from 1.2 billion dollars in the first quarter to 1.24 billion dollars in the third quarter.

Overseas spending per plastic card added 0.9 percent over the year to 302 dollars in the third quarter.

Overseas expenditure through credit and check cards increased in single digits, but debit card use slipped in double figures in the cited quarter.