Interest in K-Content Spurs Record-High Non-Resident Card Spending in Korea
Number of Visitors Hits Highest Since 2005 Amid Surge in Korean Culture Popularity
Non-Resident Card Spending Reaches $3.79 Billion, Breaking All-Time Record
Resident Overseas Card Spending Rises to $5.52 Billion,
Driven by Growth in Direct Purchases from China
The card spending by foreigners and other non-residents in South Korea reached an all-time high in the second quarter of this year. The surge in global popularity of Korean-made or Korean culture-based content, such as "Squid Game" and "K-Pop Demon Hunters," led to a sharp increase in visitors to South Korea during the second quarter. The well-established card payment infrastructure in the country also contributed to this record-breaking non-resident card spending.
Interest in K-Content Drives Record-High Non-Resident Card Spending in Korea
According to the "Resident Card Overseas Usage Performance for Q2 2025" report released by the Bank of Korea on August 26, non-residents spent $3.79 billion on cards in South Korea in the second quarter of this year, a 38.2% surge from the previous quarter's $2.74 billion. This figure broke the previous record of $3.38 billion set in the fourth quarter of last year, marking an all-time high.
The increase in non-resident card spending is attributed to the growing interest in Korean culture fueled by the popularity of K-content, which led to a rise in visitors to South Korea. According to the Korea Culture & Tourism Institute's Tourism Knowledge Information System, 4.96 million tourists visited South Korea in the second quarter, up 28.2% from 3.87 million in the first quarter. This is the highest number since 2005. Kim Minkyu, head of the Capital Flow Analysis Team at the Bank of Korea's International Department, explained, "The sharp increase in the number of visitors to South Korea, along with the well-established conditions for easy card usage by visitors, contributed to the record-high card spending."
The amount spent by non-residents using cards in South Korea reached 69% of the amount spent by domestic residents using cards overseas. This is also the highest level since the fourth quarter of 2016.
Overseas Card Spending by Residents Rises... Driven by Growth in Direct Purchases from China
In the second quarter, South Korean residents spent $5.52 billion on cards overseas, up 3.3% from the previous quarter's $5.35 billion. This was also a 6.5% increase compared to the same period last year ($5.19 billion). Despite a decline in overseas travel demand compared to the first quarter, which included the Lunar New Year holiday and children's winter break, the average card spending per overseas trip increased. This was also due to a rise in direct overseas purchases through Chinese online shopping platforms.
The number of outbound South Korean travelers fell by 13.2%, from 7.797 million in the first quarter to 6.767 million in the second quarter. In contrast, according to Statistics Korea, the value of direct overseas online purchases rose by 15.2%, from $1.35 billion in the first quarter to $1.55 billion in the second quarter. Notably, direct overseas purchases from Chinese online shopping platforms in the second quarter surged by 24.3% to $1.04 billion, up from $840 million in the previous quarter.
By card type, both credit and debit card spending increased compared to the previous quarter, by 4.5% and 0.9%, respectively.
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