South Korea Notches Up US$238bln In 2003 On Credit Cards

South Korea has been ranked as the world's fifth-largest user of credit cards for 2003. The volume of credit card transactions in South Korea reached US$238 billion in 2003, the world's fifth-largest amount, according to the Nielsen Report, a trade publication which tracks the global credit and debit card industry.

* The United States came in first with credit card transactions worth $1.74 trillion, followed by the United Kingdom with $444 billion, China with $298 billion and France with $286 billion.

* The LG CARD CO., which was South Korea's largest credit card company by billings in 2003, was ninth in the world in credit card billings with $47.4 billion.

SUMMARY

South Korea ranked as world's fifth-largest user of credit cards for 2003, posting transactions of US$238bln

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