South Korea, also called the Republic of Korea is a sovereign state located in the southern part of the Korean Peninsula. Link to external site : Website for South Korea (Republic of Korea) |  |
| Wallets | |
| Development | Developed |
| Send or Receive |
Send Register/Log In |
| GDP ($m) |
969,794.58 Register/Log In |
| HDI classification | Very High |
| Mobile Connections (m) |
53.777 Upgrade to Bronze |
| Currency | KRW |
| Class | |
| CountryISO | KR |
| Sovereignity | Country |
| Territory of | - NA - |
{"type":"GeoChart","data":[["Country","Population(m)","Rank"],["KR",48.53,23]],"options":{"title":"Countries","region":"KR","displayMode":"regions","colorAxis":{"minValue":0,"maxValue":1500,"colors":["yellow","green","red"]}}}
{"type":"PieChart","data":[["Operator","Connections"],["SK Telecom",26733200],["KT",17312913],["LG Uplus",9319726],["KT Powertel",411439]],"options":{"title":"Connections","is3D":true}}
{"type":"ColumnChart","data":[["Year","Connections"],["Q4 2000",23292812],["Q4 2001",29045698],["Q4 2002",32342770],["Q4 2003",33591623],["Q4 2004",36585782],["Q4 2005",38361224],["Q4 2006",40197416],["Q4 2007",43497541],["Q4 2008",45606984],["Q4 2009",47944000],["Q4 2010",50451124],["Q4 2011",52739522],["Q4 2012",54731811],["Q4 2013",56389417],["Q4 2014",57669922]],"options":{"title":"Connections"}}
| Channel Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["ATM",1],["Agent",1],["Kiosk",1],["Location",2],["Mobile",6],["Web",1]],"options":{"title":"Initiatives ( 7 of 7 )"}} |
| COT Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["",1],["Bank",6],["MNO",2],["PSP",1]],"options":{"title":"Initiatives ( 7 of 7 )"}} |
| Persona Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["DW",2],["LP",1],["MB",1],["MPOS",1],["MT",1],["NFC",1]],"options":{"title":"Initiatives ( 7 of 7 )"}} |
| Products |
{"type":"ColumnChart","data":[["Category","Initiatives"],["AT",1],["CICO",1],["Card",2],["DMT",2],["DW",2],["IMT",1],["LP",1],["MB",2],["MP",3],["MPOS",1],["MW",1],["NFC",1],["POS",1],["Transport",1]],"options":{"title":"Initiatives ( 7 of 7 )"}} |
| PI Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Account",3],["Card",4],["Cash",4],["NFC",1]],"options":{"title":"Initiatives ( 7 of 7 )"}} |
| Central Bank | |
| Key Regulations | |
| Type of law |
Hybrid Upgrade to Bronze |
| Legal System |
Mixed legal system combining European civil law, Anglo-American law, and Chinese classical thought Upgrade to Bronze |
| Law is based on | |
| Approach | |
| Sectors active in Digital Money | |
| Exclusivity | |
| Certainty | |
| Openness | |
| Proportionate? | |
| Allowed Models |
Jointly Led Upgrade to Bronze |
| DominantModel |
Jointly Led Upgrade to Bronze |
| E-Money |
New E-regulations introduced that recognised risk in mobile financial services. Upgrade to Bronze |
| Payment | |
| Agent |
Needs to obtain license See Doc 69 pg 34 Upgrade to Bronze |
| Money Transfer |
Licensed as credit -specialised Financial Institution Korean banks do not permit mobile to mobile IMT or even between accounts not in the same bank. (Doc 69 pg 40) |
| Taxation |
{"type":"Gauge","data":[["Label","Value"],["Mobile Penetration",101.23],["Banked",63],["Internet",72],["Urban",81],["Adult",82],["Literate",97.9]],"options":{"scaleHeight":0.5,"min":0,"max":100,"redFrom":76,"redTo":100,"yellowFrom":26,"yellowTo":74}}
| Population m | 48.53 |
| Adult % | 82.00 |
| Migrants % |
1.00 Register/Log In |
| Stock Immigrants ('000) |
534.80 Upgrade to Bronze |
| Emigration Rate % | |
| Internal Migrants ('000) | |
| Internal Migration Rate % | |
| Intl Movement Rate % | |
| Urban % | 81.00 |
| Female % | 51.40 |
| Literate % | 97.90 |
| Annual Growth % |
| Mobile Penetration % | 101.23 |
| Banked % | 63.00 |
| Access to FS % | 0.00 |
| Internet % | 72.00 |
| Branches per 100k adults | 22.35 |
| ATMs per 100k adults | 0.00 |
| POS per 100k adults | 0.00 |
| Prepaid % | 0.70 |
| Prepaid SIM Registration | |
| MobileUnbanked (m) | 17.96 |
| Monthly ARPU |
30.37 Upgrade to Bronze |
| Cards 2010 ('000) | |
| Propensity % |
| Overall | |
| Population | |
| On Remittance Sent | |
| On Remittance Received | |
| Mobile Unbanked | |
| Migrant % | |
| MP % | |
| Banked % | |
| Development |
| Can Provide Payments? | |
| Can Market under Brand? | |
| Can issue E-Money? | |
| Can Open Customer Account? | |
| Can Own Customer? | |
| Can do Cash In/Cash Out? | |
| Can offer Domestic Money Transfer? | |
| Can offer International Money Transfer? |
| Importance for Digital Money | |
| Digital Money Adoption |
Mainstream Upgrade to Bronze |
| Registered Wallet Users |
3,000,000 Upgrade to Bronze |
| Top Wallets |
All telcos support MP; Moneta Cash from SKT Upgrade to Bronze |
| Informal Market | |
| Cost To Remit | |
| Key Players |