Korea

South Korea card payments market to reach almost $1 trillion in 2024 The South Korean card payments market is forecast to grow by 5.9% in 2024 to reach KRW1,272.4 trillion ($974.3 billion), supported by high consumer preference for electronic payments, according to GlobalData, a leading data and analytics company. GlobalData’s Payment Cards Analytics reveals that card payment value in South Korea registered a growth of 12.7% in 2022, driven...

Card payments in South Korea to reach US$1.2 trillion in 2025 South Korea’s payment cards market is well developed and has been on a sustained growth for the past few years. High banked population, developed payment infrastructure and high financial awareness has resulted in high card penetration and usage. Against this backdrop, the card payments market is set to increase at a compound annual growth...