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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Overseas card spending by South Korean residents remained largely unchanged in the first quarter of 2026, as increased travel demand was offset by a decline in overseas online direct purchases.
According to data released by the Bank of Korea on June 5, overseas card spending by residents totaled $6.1 billion (approximately 9.4 trillion won) in the first quarter. This marked a slight 0.1% decrease from $6.11 billion in the fourth quarter of 2025, but a 14.2% increase compared to $5.35 billion a year earlier.
The number of outbound Korean travelers rose during the period. A total of 8.331 million Koreans traveled abroad in the first quarter, up 5.5% from 7.893 million in the previous quarter. However, overseas direct online purchases declined by 13.1%, falling from $1.55 billion to $1.35 billion over the same period.
By card type, credit card usage declined while debit card spending increased. Overseas credit card spending amounted to $4.1 billion, down 1.3% quarter-on-quarter. In contrast, debit card usage rose 2.4% to $2.003 billion, with its share of total overseas card spending expanding to 32.8%.
The number of cards used overseas decreased by 1.3% to 18.784 million, while the average spending per card rose 1.2% to $325 (approximately 500,000 won), indicating higher spending per card despite fewer cards in use.
Meanwhile, card spending in South Korea by non-residents declined from the previous quarter. In the first quarter, such spending totaled $3.57 billion, down 5.4% from $3.78 billion in the fourth quarter. However, it increased by 30.2% compared to $2.74 billion recorded a year earlier.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
