South Korea's credit card spending hit a record high last year at 221.68 trillion won, or 238.1 billion U.S. dollars, the South Korea's Yonhap News Agency reported Friday.

The card spending, which excludes card loans and overseas credit card spending, rose 14.8 percent form 2005 as more people use cards than before, it said.

In December, credit card spending also hit a yearly high of 21. 47 trillion won (23 billion U.S. dollars), up 10 percent from 2005. It was the first time that the monthly credit card bills exceeded the 20-trillion-won mark.

South Korea's economy is estimated to have increased by about 5 percent last year, led by exports and a mild recovery in private spending.

Source: Xinhua