Card spending climbs over 3 pct in Q1

SEOUL, April 30 (Yonhap) -- Credit card spending in South Korea rose by more than 3 percent in the first three months of the year from a year earlier, data showed Wednesday.

Spending made with credit, debit and prepaid cards came to 300.6 trillion won (US$210 billion) in the January-March period, up 3.3 percent from the same period last year, according to the data compiled by the Credit Finance Association (CREFIA).

During the cited period, the number of approved card settlements climbed 1.2 percent on-year to 6.85 billion cases.

The rise was led by an increase in spending via corporate cards, while domestic demand remained lackluster, the association said.

Spending with corporate cards rose 8.8 percent on-year to 53.2 trillion won, and that by individuals gained 2.2 percent to 247.5 trillion won, according to the data.

sam@yna.co.kr
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