Credit-card spending by individuals rose 11.2 percent on-year in the second quarter, as a long holiday and hot weather boosted demand for air conditioners and other consumer goods, industry data showed Friday.
According to the data by the Credit Finance Association, credit-card spending by individuals stood at 150 trillion won ($133.3 billion) for the April-June period, the highest quarterly spending tallied so far.
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(Yonhap) |
The use of credit cards increased in part to people taking trips that require paying for accommodations and food, the data showed. Its travel-related spending was high in May and June.
Sales of air conditioners and air purifiers increased due to hot weather and smog, it said.
Total credit-card spending, which includes spending by corporate users, climbed 4 percent on-year to 186.5 trillion won for the quarter.
Credit-card spending by corporate users, however, fell 18.1 percent on-year to 35.6 trillion won for the three-month period.
The decline came as credit-card firms reduced hefty promotions for corporate users, the association said. (Yonhap)
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