In 2023, the average daily value of mobile banking transactions in South Korea amounted to over 15 trillion South Korean won, up from about 14 trillion won in the previous years. The average daily value of mobile banking transactions in South Korea has increased rapidly over the last few years.
Online banking in South Korea
The use of online banking, particularly mobile banking, has seen a significant rise in South Korea in recent years. Mobile banking customers have increased by more than sixfold since 2011. A survey found that nearly 70 percent of respondents reported using mobile banking in the past month.
Digital banks on the rise
After the COVID-19 outbreak, digital banking has experienced unprecedented growth in South Korea. Currently, there are three digital banks in South Korea: Kakao Bank and K Bank, founded in 2017, and Toss Bank, founded in 2021. With its accessibility, convenience, and attractive products, Kakao Bank has rapidly positioned itself as one of the leading digital banks, both domestically and globally.
Average daily value of mobile banking transactions in South Korea from 2020 to 2023
(in trillion South Korean won)
Characteristic
Mobile banking transactions in trillion South Korean won
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Bank of Korea. (March 25, 2024). Average daily value of mobile banking transactions in South Korea from 2020 to 2023 (in trillion South Korean won) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/
Bank of Korea. "Average daily value of mobile banking transactions in South Korea from 2020 to 2023 (in trillion South Korean won)." Chart. March 25, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/
Bank of Korea. (2024). Average daily value of mobile banking transactions in South Korea from 2020 to 2023 (in trillion South Korean won). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/
Bank of Korea. "Average Daily Value of Mobile Banking Transactions in South Korea from 2020 to 2023 (in Trillion South Korean Won)." Statista, Statista Inc., 25 Mar 2024, https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/
Bank of Korea, Average daily value of mobile banking transactions in South Korea from 2020 to 2023 (in trillion South Korean won) Statista, https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/ (last visited November 22, 2024)
Average daily value of mobile banking transactions in South Korea from 2020 to 2023 (in trillion South Korean won) [Graph], Bank of Korea, March 25, 2024. [Online]. Available: https://www.statista.com/statistics/962766/south-korea-mobile-banking-transactions-value/
