Foreigners' credit card spending surges nearly 10-fold in June from 2023 level: report

Credit card spending by foreigners in South Korea surged nearly tenfold in June compared to three years prior, as reported by the Korea Credit Data. The monthly index of revenues from overseas credit cards at local merchants reached 960 in June, a significant jump from 100 in January 2023. This increase is primarily attributed to the sharp rise in overseas visitors, with South Korea welcoming 10.7 million foreign tourists in the first half of the year, marking a 21.3% increase from the same period in 2025.

The KCD report revealed that overseas credit card revenues constituted 1.2% of total revenues in June, up from 0.2% in January 2023. A majority of this revenue, 65%, was generated in Seoul, followed by 11% in Gyeonggi Province and 8% in Busan. Within the service sector, dermatology clinics garnered 40% of revenues, while plastic surgery clinics contributed 14%. In the retail sector, fashion and clothing shops accounted for 28% of revenues, with Korean food restaurants making up 19% of the total.

On average, foreigners spent 166,000 won (US$117) in the service sector, compared to 47,000 won by Korean nationals. Their spending in the retail sector averaged 32,000 won, and 33,000 won in the food and beverages sector.