Foreigners' card spending in S. Korea hits record high in Q2

Foreigners' card spending in South Korea surged to a record high in the second quarter, propelled by a surge in tourist activity, according to central bank figures released on Wednesday. The total amount spent by nonresidents using credit and debit cards reached an astounding US$4.86 billion between April and June, marking a remarkable 36.1 percent increase compared to the previous quarter, as reported by the Bank of Korea (BOK).

This figure set a new quarterly record, surpassing the previous peak of $3.79 billion recorded in the second quarter of 2025. The notable rise in spending coincided with an escalating number of foreigners visiting South Korea throughout the year. In the first six months of 2023, a total of 10.71 million foreigners traveled to the country, representing a 21.3 percent year-over-year increase, according to separate government statistics.

However, South Koreans' card spending overseas experienced a slight decline in the second quarter, falling 4.2 percent year-over-year, with a total of $5.85 billion spent. This decrease was attributed to a 20.4 percent drop in the number of overseas travelers, totaling 6.63 million during the same period.