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South Korea is a leader in mobile payments, with a highly digitalized payment landscape dominated by platforms like KakaoPay, Naver Pay, and Samsung Pay. Cash usage is declining, particularly among younger generations. Online banking is prevalent, and electronic bank transfers are routinely used. South Korea consistently ranks highly in global digitalization indices, reflecting its robust digital infrastructure and high levels of digital literacy among its population. This combination of factors has fueled the rapid growth of digital payment solutions, making it a leader in the global cashless trend.

Population

Estimated Population

51.8 million

Currency

Currency

South Korean won (KRW)



Popular payment methods