In the past six years, the number of foreign check card customers at KB Kookmin Card has increased by nearly 50%. As the number of foreigners residing in the country rises, their financial consumption activities are also becoming more active.
On the 29th, KB Kookmin Card analyzed check card usage data of foreigners residing in the country over the past six years. The analysis revealed that the number of foreign check card users last year increased by 46% compared to 2019. During the same period, the usage amount surged by 75%, indicating that foreigners' financial transactions are growing both qualitatively and quantitatively.
Last year, the average monthly check card usage per foreign customer was 22.8 transactions, with an average usage amount of 516,000 won, representing increases of 20% (3.8 transactions) and 19% (84,000 won), respectively, compared to five years ago. By age group, foreigners in their 30s had the highest average monthly usage amount of 561,000 won, followed by those in their 40s at 553,000 won. In particular, the average monthly usage amount for customers aged 60 and over increased by 33% over six years to 435,000 won, indicating an expanding consumption among older foreign customers.
The age groups of foreign check card holders are dominated by those in their 30s (27%) and 40s (21%). However, it is noteworthy that the proportion of foreign customers in their 20s applying for cards has been rapidly increasing over the past three years. As of last year, the proportion of customers in their 20s was 42%, up from 36% in 2022 and 40% in 2023.
By nationality, among foreign check card customers, those from China accounted for the largest share at 53%, followed by Vietnam (7%), the United States (6%), Uzbekistan (4%), and Cambodia (4%). However, in the past three years, the share of Chinese nationals among newly issued cardholders has decreased, while the proportions of customers from Vietnam, the United States, Uzbekistan, Mongolia, and Kazakhstan have been on the rise. In terms of newly issued cardholders over the past three years, the proportions were as follows: China 36%, Vietnam 12%, the United States 7%, Uzbekistan 5%, and Mongolia 4%.