Sales at South Korean small merchants made with cards issued overseas rose about 9.6 times over the past 3 and a half years, Korea Credit Data said. The share of foreign-issued cards in small merchants’ card sales climbed to 1.2 percent from 0.2 percent. Spending was concentrated in Seoul and in certain sectors, with the top 1 percent of stores accounting for 66.9 percent of foreign card sales.

Woori Bank is opening a consultation-focused channel, the Woori Ieum Consultation Centre, in major commercial areas of Seoul to strengthen tailored financial support for small business owners and office workers. The bank said it has set up three centres in key hubs including Namdaemun, Gangnam and Hongdae. The centres prioritise customer consultations over product sales and operate with extended hours on weekdays and weekends. They offer advice on loans, asset management and retirement planning.