Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) jonghyuk Kim Journalist = The rate of increase the amount of usage credit card overseas, recorded at a minimum in the third quarter this year, because of strong dollar.

According to the Credit Finance Laboratory of the Credit Finance Association on 9, the amount of usage the credit card overseas belong to residents, is 3.3 billion dollars in the third quarter this year. This is increased of 3.1% from the same time last year, the lowest rate in last 24 quarters since the third quarter 2009.

The association analyzed that the strength of dollar and increase won-dollar exchange rate caused by preference for safe property caused increase oversea purchase cost and decrease oversea shopping.

So the rate of increase, from the same time last year, the amount of payment on the credit card and withdrawal overseas, also decreased following decline the amount of usage the credit card overseas.

In the last quarter, the rate of increase the amount of payment on the credit card has been high (18.3%) in the process of expand the credit card market overseas, but it was only 8.0% in the third quarter. The rate of increase the amount of withdrawal overseas was minus (-12.5%) continuing for 5 quarters.

An officer of the association said, “The rapid decline in the amount of domestic using credit card of nonresidents in the 2,3 quarters, is temporal phenomenon caused by MERS. The number of immigrants is recovered in Oct. so it is predicted to normalize it from the fourth quarter.”

NSP News Agency/NSP TV jonghyuk Kim Journalist, awake12@nspna.com
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