Korea's Travel Deficit with EU Hits Record High

Korea has posted the largest-ever travel deficit with the EU, overtaking the U.S. for the first time in 14 years.

According to the Bank of Korea on Sunday, the country's travel deficit with the EU reached US$5.47 billion last year. It swelled by $1.44 billion or a whopping 36 percent from the year before.

The main reason was two long office holidays in Korea in May and October last year that invited longer trips abroad.

Korea's biggest travel deficit had been with the U.S. since 2004 because of the large numbers of business travelers going that way, but last year Europe overtook it for the first time. Next were Southeast Asia and Japan.

Read this article in Korean