The Bank of Korea said on the 2nd that in the second quarter, domestic residents' overseas card (credit and debit) spending was $5.848 billion, down 4.2% from the previous quarter's $6.104 billion. As the won-dollar exchange rate stayed high at 1,480–1,520 won in the second quarter, overseas travelers decreased, but overseas online direct purchases increased. By contrast, the amount foreigners spent on cards in Korea hit a record high.
According to the "overseas card spending by residents in the second quarter" released by the Bank of Korea that day, credit card spending by residents of Korea overseas was $4.075 billion, down 0.6% from the previous quarter. During the same period, debit cards (including debit and prepaid) totaled $1.773 billion, down 11.5%.
The decline in card spending is seen as a result of fewer overseas trips due to the strong dollar. The number of departures by Korean nationals in the second quarter was 6,631,000, down 20.4% from the previous quarter's 8,331,000. During this period, the monthly average won-dollar exchange rate rose each month to 1,487.3 won in April, 1,490.1 won in May, and 1,527.3 won in June. A Bank of Korea official said, "As the exchange rate is expensive, it appears people had no choice but to go to Asia, including Japan," and added, "As the Japanese currency is also weak, the dollar-converted amount decreased."
Overseas direct purchases through online shopping were found at $1.41 billion, up 4.3% from the previous quarter. As travel-related expenditure decreased sharply, total overseas card spending also fell.
Conversely, the amount spent on cards in Korea by foreigners (nonresidents) was $4.86 billion, up 36.1% from the previous quarter's $3.57 billion, setting an all-time high. The previous record was in the second quarter of 2025 ($3.79 billion).
This is seen as a result of the won becoming relatively cheaper against the dollar and a sharp increase in Chinese tourists. After the government began easing measures in March to issue 10-year multiple-entry visas to residents of 14 major Chinese cities, including Beijing and Shanghai, the number of tourists increased. A Bank of Korea official explained that this was "largely influenced by the government's tourism promotion policies."