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CREDIT CARDS DOMINATE PRIVATE SPENDING IN SOUTH KOREA.
SEOUL, June 8 Asia Pulse - Credit card settlements accounted for more than half of the total private spending in South Korea during the first quarter of this year as a growing number of people tend to purchase goods and services on credit, a report showed Saturday.
According to the report by the Credit Finance Association, South Korea's credit card spending amounted to 70.56 trillion won (US$60.8 billion) in the January-March period.
The figure accounted for 51 per cent of the nation's total private sector spending worth 138.48 trillion won, the report showed.
It is also higher than the 49 per cent posted during the same quarter a year earlier.
Credit card settlements stood at only 5.6 per cent of total ...
- Snap! Credit cards in South Korea.(The cost of too much credit)
- Magazine article from: The Economist (US) January 10, 2004 700+ words
...erode the gains South Korea has made since...rapid embrace of credit cards was a deliberate...had exposed both South Korea's over-reliance...carrying four credit cards, and was eagerly...borrowers from South Korea's eight credit...
- SOUTH KOREA: KOREAN GOVERNMENT MAY ALLOW CONGLOMERATES TO ISSUE CREDIT...
- Newspaper article from: IPR Strategic Business Information Database February 11, 2001 700+ words
According to South Korea Daily (February 7, 2001), as credit card usage has increased in recent years, the government is thinking about removing the...
- LARGE OVERSEAS CREDIT CARD PURCHASES SURGE IN SOUTH KOREA.
- News wire article from: AsiaPulse News August 22, 2007 700+ words
...of purchases charged to credit cards that exceeded US$20...bought foreign products from South Korea. Companies used credit cards mainly for travel-related...heavy users to determine if credit cards were used to illegally filter...
- Global Credit Card Industry - Emerging Markets - In China, Growth in the Number...
- Press release article from: M2 Presswire December 19, 2008 700+ words
...cards in China, 2008 & 2012 -Credit cards purchases in India, 2008-09 to 2011-12 -Credit cards spending in South Korea, 2008-2012 -Number of credit cards in Russia, 2008-2012 -Number of...
- Research and Markets: Global Credit Card Industry - Emerging Markets - In...
- Press release article from: Business Wire December 19, 2008 700+ words
...cards in China, 2008 & 2012 * Credit cards purchases in India, 2008-09 to 2011-12 * Credit cards spending in South Korea, 2008-2012 * Number of credit cards in Russia, 2008-2012 * Number of...
- A robust market ahead for South Korea in second half of 02.
- Newspaper article from: Asset Securitization Report Corrigan, Colleen August 5, 2002 700+ words
...consumer finance industry has developed as a result of the government's initiative to ignite the usage of credit cards. "South Korea began encouraging increased credit card use in 1999 to improve tax collections and bolster domestic growth...
- Business: Korea Goes Bust; The Asia-wide spread of credit-card culture is going...
- Magazine article from: Newsweek International Lee, B.J. March 8, 2004 700+ words
...recently introduced credit cards into consumer culture, only South Korea has seen this...That meant credit cards. But only South Korea tried to create...credit cards with credit cards. Only five...last crisis, South Korea faces ...
- Momentum gaining for cellphones as credit cards.(Market Intelligence)
- Newspaper article from: 2.5G-3G January 1, 2005 700+ words
...technology for cellphone credit cards, said that the new...banking industry. Since credit cards are still considered...credits the handset. In South Korea, people are already using cellphones as credit cards, said Sue GordonLathrop...
