Business · Economy · 1 hr ago
South Korean households increasingly delay tax and card payments
South Korean households are spreading tax payments over several months as household budgets face pressure.
In the third quarter, personal credit-card tax payments made in installments rose 28.2% year on year to 3.53 trillion won, while one-time tax payments rose just 0.8%.
At the end of September, card bills carried forward reached 7.05 trillion won, up 4.9% from a year earlier.
Revolving payments let cardholders pay part of a bill and move the rest to a later month.
Card-loan and cash-advance balances fell between July and September, and tighter lending limits may have shifted some demand toward revolving payments.
These options can ease immediate cash pressure, but revolving fees can reach about 19% a year, and unpaid amounts can add to future bills.
The increase was seen across all eight major card issuers, while the sources give no specific next step.
South Korean households are increasingly splitting tax payments into card instalments and carrying part of their card bills forward.
In the third quarter, instalment payments for national and local taxes rose 28.2% from a year earlier to 3.5273 trillion won.
Lump-sum tax card payments increased just 0.8%, and instalments made up 27.3% of tax card payments.
The balance of card payment revolving credit reached 7.0521 trillion won at the end of September, up 4.9% from a year earlier.
The article links the trend to economic slowdown and household financial pressure, while noting that delaying payments can add fees.
- Who
- South Korean households using credit cards.
- What
- More households are paying taxes in instalments and carrying card balances forward through revolving credit.
- When
- In the third quarter of 2026; revolving balances are reported as of the end of September.
- Where
- South Korea.
- Why
- The article cites economic slowdown and greater household financial pressure; tighter limits on household lending may also have shifted some demand to revolving credit.
This story does not have two clearly opposing sides.
Financial authorities lowered the household-loan growth management target to 1.5%.
The household-loan growth management target was raised to 3%.
The revolving balance stood at 6.8759 trillion won at the end of the month.
Tax instalment card use reached 3.5273 trillion won, up 28.2% from a year earlier.
The revolving balance reached 7.0521 trillion won at month-end.
- Tax instalment card use
- 3.5273 trillion won in the third quarter
- Year-on-year change in tax instalments
- Up 28.2%
- Lump-sum tax card payments
- 9.3721 trillion won, up 0.8%
- Revolving balance
- 7.0521 trillion won at the end of September
- Revolving fee rate
- Can reach about 19% annually
- Card companies analysed
- Eight dedicated credit card companies
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경기 양극화가 심화하면서 자금 융통을 위해 대출 대신 리볼빙을 활용하거나 세금 납부 시에도 일시불보다 할부를 선택하는 사례가 늘고 있다
지난해에는 민생회복 소비쿠폰 등 정책 영향으로 리볼빙 잔액이 일시적으로 줄어들기도 했지만, 최근에는 가계의 자금 부담이 카드 결제 방식에도 반영되는 모습