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Daily card spending hits record high in first half

All Headlines 13:53 August 28, 2016

SEOUL, Aug. 28 (Yonhap) -- South Koreans spent 2.03 trillion won (US$1.82 billion) on a daily basis with their credit cards in the first half of the year, as they opted for a convenient payment tool, data showed Sunday.

According to the data compiled by the Bank of Korea, the first-half tally marks the first time that credit card spending on a daily basis exceeded 2 trillion won, and represents a 12 percent rise from a year earlier.

The figure includes spending by credit cards, debit cards and prepaid ones.

By type, credit card spending on a daily basis jumped 11.3 percent on-year to reach 1.63 trillion won, while the corresponding figure for debit cards soared 15 percent to 404 billion won over the cited period.

Meanwhile, South Korean credit and debit card spending jumped 8.8 percent last year from a year earlier to reach 667.1 trillion won in 2015, up from 613.2 trillion won the previous year.


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