South Koreans’ overseas card spending declined 14.8 percent in the third quarter from three months earlier as the government tightened rules on withdrawals of money from automatic teller machines and the won depreciated against the dollar, central bank data showed.
According to the data by the Bank of Korea, the amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $2.88 billion in the July-September period, down from $3.37 billion tallied in the second quarter.
The on-quarter decline stemmed from tightened rules on overseas ATM withdrawals aimed at curbing illegal foreign currency transactions linked to cyber assets and the won’s descent against the dollar, the BOK said. (Yonhap)
By Nam Kyung-don (
don@heraldcorp.com)
