Back To Top

Anti-graft law reduces corporate card use at luxury bars, restaurants: NTS

Use of corporate cards at luxury bars and restaurants fell substantially in the first six months this year from a year earlier, government data showed Thursday, as the anti-graft law that took effect last September bans businesses from treating government officials, teachers and journalists to expensive meals and drinks.

The amount spent dropped 44.8 billion won ($39.2 million), or 8.8 percent, to 467.2 billion won for the January-June period of 2017 from 512 billion won a year earlier, according to data by the National Tax Service.

The amount used at luxury bars, mostly in the affluent southern district of Gangnam in Seoul, declined 49.2 billion won on-year, or 16.4 percent, to 250.9 billion won.

People toasting with beer and soju.. (Yonhap)
People toasting with beer and soju.. (Yonhap)

The use of corporate cards at "noraebang," or singing rooms, shrank 4 percent to 84.2 billion won.

The comparable figure at dining theaters also fell to 48.5 billion won from 53.5 billion won.

The amount used at traditional luxury Korean restaurants, commonly called "yojeong," however, rose 23.1 percent, or 12.9 billion won, to 68.8 billion won.

The anti-graft law did not affect the use of corporate cards at golf courses as the amount edged down 0.1 percent, or 700 million won, to 519.2 billion won, the latest findings showed. (Yonhap)

Korea Herald Youtube