SEOUL, Feb. 21 (Xinhua) -- Overseas bank card spending by South Koreans hit a record high last year amid the local currency's appreciation to the U.S. dollar and the rising number of tourists to foreign countries, central bank data showed Thursday.
Domestic residents spent 19.22 billion U.S. dollars overseas by payment cards, including credit, debit and check cards, in 2018, up 12.1 percent from the previous year, according to the Bank of Korea (BOK). It topped the previous high of 17.14 billion dollars tallied in 2017.
The record spending came as the South Korean currency rose against the greenback last year. The growing number of locals going on an overseas trip contributed to the increased spending by plastic cards.
The number of domestic travelers to foreign countries rose 8.3 percent over the year to 28.7 million in 2018, data from the Korea Culture and Tourism Institute showed.
The won/dollar exchange rate averaged 1,100.3 won per dollar in 2018, down 30.5 won from the previous year.
The number of bank cards used overseas was 63.84 million in 2018, up 15.6 percent from a year earlier. It reflected a high number of people who pay by credit card, rather than cash, during their overseas trip.
