Sunday, January 23, 2005

Credit card use at highest level in two years

Credit card usage during the fourth quarter of last year was the highest in two years, card issuers reported.
The companies told the Ministry of Finance and Economy that consumers charged 44,865 billion won in the October-December period.
That was a 10.6 percent year-on-year increase and the highest level since the fourth quarter of 2002, when shoppers put 45,825 billion won on their credit cards.

The Korea Herald. By Kim So-hyun.
Full Article Link

Will the high rate of credit card debt become a potential downfall for the Korean economy?
Rational exuberance?

No comments: