2023 daily card spending growth in South Korea slowed due to decreased private spending, with a 6.2% increase in 2022.
2023 daily card spending growth in South Korea slowed down due to decreased private spending, according to central bank data. In 2022, daily card spending increased by 6.2%, slower than the 13.5% growth in 2021. Credit card spending rose by 6.9% to an average of 2.62 trillion won, with the nation's real GDP growth slowing to 1.4% in 2022, marking the lowest growth since the pandemic. Private spending decelerated by 5.3% in 2022.
March 25, 2024
6 Articles