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COMPETITIVE LANDSCAPE
Players focus on the commercial segment
Card companies are competing to take a share of the corporate (commercial) sector, as most face difficult industry conditions. Card companies face challenges from lower revenues, including a reduction in merchant fee rates, rising delinquency rates due to the weak economy, and the government's stronger regulations related to household debt and card loans.
Hyundai Card Co delivers added services to attract corporates
In early 2024, Hyundai Card Co expanded the benefits to its corporate cardholders by introducing a tax-filing service for sole proprietors. The card company followed up by launching the MY BUSINESS Summit credit card and Cashnote BUSINESS to focus on attracting individual business owners.
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Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in South Korea?
- What are the major trends key to understanding Credit Card Transactions in South Korea?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Credit Cards in South Korea - Category analysis
Credit Cards in South Korea - Company Profile
KEY DATA FINDINGS
Credit card revenues under pressure amid economic and policy changes
Credit card companies discontinue cards offering added benefits as revenues come under pressure
Slow growth in credit card transactions reflects low purchasing power amid economic uncertainty
Hyundai Card Co moves into leading position
Steady growth as credit cards remain key form of payment
Lower credit card fees will reduce potential revenues
Credit cards rolled out to individual business owners
Players focus on the commercial segment
Hyundai Card Co delivers added services to attract corporates
Table 1 Credit Cards: Number of Cards in Circulation 2020-2025
Table 2 Credit Cards Transactions 2020-2025
Table 3 Credit Cards in Circulation: % Growth 2020-2025
Table 4 Credit Cards Transactions: % Growth 2020-2025
Table 5 Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 6 Commercial Credit Cards Transactions 2020-2025
Table 7 Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 8 Commercial Credit Cards Transactions: % Growth 2020-2025
Table 9 Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 10 Personal Credit Cards Transactions 2020-2025
Table 11 Personal Credit Cards in Circulation: % Growth 2020-2025
Table 12 Personal Credit Cards Transactions: % Growth 2020-2025
Table 13 Credit Cards: Number of Cards by Issuer 2020-2024
Table 14 Credit Cards: Number of Cards by Operator 2020-2024
Table 15 Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 16 Credit Cards Payment Transaction Value by Operator 2020-2024
Table 17 Commercial Credit Cards: Number of Cards by Issuer 2020-2024
Table 18 Commercial Credit Cards: Number of Cards by Operator 2020-2024
Table 19 Commercial Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 20 Commercial Credit Cards Payment Transaction Value by Operator 2020-2024
Table 21 Personal Credit Cards: Number of Cards by Issuer 2020-2024
Table 22 Personal Credit Cards: Number of Cards by Operator 2020-2024
Table 23 Personal Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 24 Personal Credit Cards Payment Transaction Value by Operator 2020-2024
Table 25 Forecast Credit Cards: Number of Cards in Circulation 2025-2030
Table 26 Forecast Credit Cards Transactions 2025-2030
Table 27 Forecast Credit Cards in Circulation: % Growth 2025-2030
Table 28 Forecast Credit Cards Transactions: % Growth 2025-2030
Table 29 Forecast Commercial Credit Cards: Number of Cards in Circulation 2025-2030
Table 30 Forecast Commercial Credit Cards Transactions 2025-2030
Table 31 Forecast Commercial Credit Cards in Circulation: % Growth 2025-2030
Table 32 Forecast Commercial Credit Cards Transactions: % Growth 2025-2030
Table 33 Forecast Personal Credit Cards: Number of Cards in Circulation 2025-2030
Table 34 Forecast Personal Credit Cards Transactions 2025-2030
Table 35 Forecast Personal Credit Cards in Circulation: % Growth 2025-2030
Table 36 Forecast Personal Credit Cards Transactions: % Growth 2025-2030
Debit Cards in South Korea - Category analysis
Debit Cards in South Korea - Company Profile
KEY DATA FINDINGS
Debit cards come under pressure from BNPL
BNPL stifles debit card use among young adults
Debit card transactions witness solid increase in 2025
Growth in foreign transaction values supported by travel debit cards
Youth demographic is key target audience for debit card players
Card industry prepares to introduce stablecoins with debit card functionality
Legally authorised guardians can now obtain debit cards to support those with impaired judgement
NongHyup Bank leads with widespread branches
BC Card diversifies its business to add new revenue streams
Hyundai Card Co and KEB Hana Card Co achieve share gains in 2024
Table 37 Debit Cards: Number of Cards in Circulation 2020-2025
Table 38 Debit Cards Transactions 2020-2025
Table 39 Debit Cards in Circulation: % Growth 2020-2025
Table 40 Debit Cards Transactions: % Growth 2020-2025
Table 41 Debit Cards: Number of Cards by Issuer 2020-2024
Table 42 Debit Cards: Number of Cards by Operator 2020-2024
Table 43 Debit Cards Payment Transaction Value by Issuer 2020-2024
Table 44 Debit Cards Payment Transaction Value by Operator 2020-2024
Table 45 Forecast Debit Cards: Number of Cards in Circulation 2025-2030
Table 46 Forecast Debit Cards Transactions 2025-2030
Table 47 Forecast Debit Cards in Circulation: % Growth 2025-2030
Table 48 Forecast Debit Cards Transactions: % Growth 2025-2030
Pre-Paid Cards in South Korea - Category analysis
Pre-Paid Cards in South Korea - Company Profile
KEY DATA FINDINGS
Consistent performance for pre-paid cards
Consistent use of pre-paid cards fuelled by transportation products
Steady increase in T-Money transit card usage
Wider usage supports growth in pre-paid card transactions
New pre-paid financial cards emerge for teenagers
Pre-paid transport cards face competition from post-paid travel cards offering unlimited travel
Danal is first domestic company to directly launch a pre-paid card that supports stablecoin payments
Tmoney Co Ltd enjoys dominant position in closed looped pre-paid cards
Shinhan Card Co Ltd loses ground
Table 49 Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 50 Pre-paid Cards Transactions 2020-2025
Table 51 Pre-paid Cards in Circulation: % Growth 2020-2025
Table 52 Pre-paid Cards Transactions: % Growth 2020-2025
Table 53 Closed Loop Pre-paid Cards Transactions 2020-2025
Table 54 Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 55 Open Loop Pre-paid Cards Transactions 2020-2025
Table 56 Open Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 57 Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 58 Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 59 Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 60 Pre-paid Cards Transaction Value by Operator 2020-2024
Table 61 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 62 Closed Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 63 Closed Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 64 Closed Loop Pre-paid Cards Transaction Value by Operator 2020-2024
Table 65 Open Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 66 Open Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 67 Open Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 68 Open Loop Pre-paid Cards Transaction Value by Operator 2020-2024
Table 69 Forecast Pre-paid Cards: Number of Cards in Circulation 2025-2030
Table 70 Forecast Pre-paid Cards Transactions 2025-2030
Table 71 Forecast Pre-paid Cards in Circulation: % Growth 2025-2030
Table 72 Forecast Pre-paid Cards Transactions: % Growth 2025-2030
Table 73 Forecast Closed Loop Pre-paid Cards Transactions 2025-2030
Table 74 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2025-2030
Table 75 Forecast Open Loop Pre-paid Cards Transactions 2025-2030
Table 76 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2025-2030
Store Cards in South Korea - Category analysis
Store Cards in South Korea - Company Profile
KEY DATA FINDINGS
Store cards are limited in competitive financial cards marketplace
Sluggish performance for store cards
Galleria Platinum Woori Card added to store card portfolio
Department and convenience stores required to register as Electronic Payment Gateway (PG)
Future growth potential for private label cards
Outbound tourism to boost air miles benefits
Joint card promotional events used to target wider audience
Hyundai Department Store Card Loewe Edition is launched
Table 77 Store Cards: Number of Cards in Circulation 2020-2025
Table 78 Store Cards Transactions 2020-2025
Table 79 Store Cards in Circulation: % Growth 2020-2025
Table 80 Store Cards Transactions: % Growth 2020-2025
Table 81 Store Cards: Number of Cards by Issuer 2020-2024
Table 82 Store Cards: Payment Transaction Value by Issuer 2020-2024
Table 83 Forecast Store Cards: Number of Cards in Circulation 2025-2030
Table 84 Forecast Store Cards Transactions 2025-2030
Table 85 Forecast Store Cards in Circulation: % Growth 2025-2030
Table 86 Forecast Store Cards Transactions: % Growth 2025-2030
Financial Cards and Payments in South Korea - Industry Overview
Shifting card usage reflects weaker purchasing power
KEY DATA FINDINGS
BNPL suppresses debit card usage
Credit card issuance has been negatively impacted
Policy initiatives boost pre-paid card use
Credit cards to remain in strong demand
Generation Alpha is a high priority to ensure longevity
Stablecoin currency is under development by fintech players
Hyundai Card Co takes lead in credit cards
KB Kookmin Card Co Ltd invests in personal and commercial cards
T-Money leverages Apple pay wallet payment service
Table 87 Number of POS Terminals: Units 2020-2025
Table 88 Number of ATMs: Units 2020-2025
Table 89 Value Lost to Fraud 2020-2025
Table 90 Card Expenditure by Location 2025
Table 91 Financial Cards in Circulation by Type: % Number of Cards 2020-2025
Table 92 Domestic versus Foreign Spend 2025
Table 93 Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 94 Financial Cards by Category: Number of Accounts 2020-2025
Table 95 Financial Cards Transactions by Category: Value 2020-2025
Table 96 Financial Cards by Category: Number of Transactions 2020-2025
Table 97 Consumer Payments by Category: Value 2020-2025
Table 98 Consumer Payments by Category: Number of Transactions 2020-2025
Table 99 M-Commerce by Category: Value 2020-2025
Table 100 M-Commerce by Category: % Value Growth 2020-2025
Table 101 Financial Cards: Number of Cards by Issuer 2020-2024
Table 102 Financial Cards: Number of Cards by Operator 2020-2024
Table 103 Financial Cards: Card Payment Transactions Value by Operator 2020-2024
Table 104 Financial Cards: Card Payment Transactions Value by Issuer 2020-2024
Table 105 Forecast Financial Cards by Category: Number of Cards in Circulation 2025-2030
Table 106 Forecast Financial Cards by Category: Number of Accounts 2025-2030
Table 107 Forecast Financial Cards Transactions by Category: Value 2025-2030
Table 108 Forecast Financial Cards by Category: Number of Transactions 2025-2030
Table 109 Forecast Consumer Payments by Category: Value 2025-2030
Table 110 Forecast Consumer Payments by Category: Number of Transactions 2025-2030
Table 111 Forecast M-Commerce by Category: Value 2025-2030
Table 112 Forecast M-Commerce by Category: % Value Growth 2025-2030
COUNTRY REPORTS DISCLAIMER
Summary 1 Research Sources
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
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This report originates from Passport, our Credit Card Transactions research and analysis database.
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