Figures from South Korea

As per Central Bank of South Korea daily credit card use including purchases and cash advances in the first quarter rose 14.8% comparing with the previous year. 1.21 trillion won (US$1.16 billion) constituted daily credit card spending within the January-March period while the same index last year made up 1.06 trillion won as it is stated by the Bank of Korea.

The Central Bank reports that the spending for goods and services purchased daily increased to 973 billion won in the first quarter which is a 18.1% raise compared with the preceding year. Cash advances, which have continued to drop since 2004, came to 240 billion won each day, up 3.1 per cent over the previous year.

For the last three years the South Korean economy underwent very slow growth and slowdown of facility investment within home market.