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In 2024, the average daily value of mobile banking transactions in South Korea amounted to over **** trillion South Korean won, up from about **** trillion won in the previous year. 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 eightfold since 2011. A survey found that nearly ** 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.