Overseas card spending jumps 18.6% in 2021 on strong won

A consumer paying bills with a credit card. (Yonhap News TV)

South Koreans' overseas card spending swelled nearly 19 percent in 2021 amid a strong local currency against the US dollar, central bank data showed Monday.

The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $12.23 billion last year, up 18.6 percent from a year earlier, according to the data by the Bank of Korea (BOK).

The 2021 tally represents a sharp turnaround from a 46.1 percent on-year tumble recorded a year earlier.

Last year's surge was attributed mainly to a jump in South Koreans' direct purchases from overseas online malls on the local currency's strength against the greenback, despite a drop in the number of overseas travelers.

South Koreans' overseas online direct buying shot up nearly 30 percent on-year to $4.49 billion last year.

The number of outbound travelers tumbled 71.4 percent on-year to 122,000 last year in the wake of the coronavirus pandemic, according to the central bank.

Last year, the local currency changed hands at a daily average of 1,144.40 won to the US dollar, up 3 percent from a year earlier. (Yonhap)