South Korea Sees Drop In Delinquency Rates

The collective credit card delinquency rate for the five major card issuers in South Korea–Samsung Card, BC Card, Shinnan Card, Hyundai Card and Lotte Card–was 3.43% at the end of 2008, a spokesperson from the country's Financial Supervisory Commission tells CardLine Global. Though the rate declined 36 basis points from 3.79% at the end of 2007, it rose by 15 basis points from 3.28% at the end of September, the commission says. The commission plans to publish complete statistics about delinquency rates for the country's major issuers in the coming weeks, the spokesperson adds.