Seoul: Total card spending in South Korea experienced an increase in the second quarter of the year as consumer sentiment improved with anticipation for the government's economic stimulus measures. Industry data revealed a rise in spending compared to the previous year.

According to Yonhap News Agency, credit and debit cardholders in South Korea spent a total of 313 trillion won (US$226 billion) during the April-June period. This marks a 3.7 percent increase from the 301.7 trillion won recorded during the same period last year, as reported by the Credit Finance Association.

The association attributed the increase in card spending to factors such as a boost in new vehicle sales and enhanced performances by local companies. The data highlighted that corporate card spending grew by 5.9 percent year-on-year, reaching 58.3 trillion won. Meanwhile, spending with cards held by individuals rose by 3.3 percent to 254.8 trillion won.

The report also noted a rebound in the quarterly rate of increase for individual card spending, following two consecutive quarters of decline. The Credit Finance Association commented, "Consumer sentiment is showing signs of recovery on eased uncertainties and expectations for the government's economic stimulus measures."