South Korea (Republic of Korea)

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)
South Korea (Republic of Korea)
Development Developed
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GDP ($m)
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HDI classification Very High
Mobile Connections (m)
Currency KRW
CountryISO KR
Sovereignity Country
Territory of - NA -
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{"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"}}
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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 )"}}
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COT Analysis
{"type":"ColumnChart","data":[["Category","Initiatives"],["",1],["Bank",6],["MNO",2],["PSP",1]],"options":{"title":"Initiatives ( 7 of 7 )"}}
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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 )"}}
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{"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 )"}}
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PI Analysis
{"type":"ColumnChart","data":[["Category","Initiatives"],["Account",3],["Card",4],["Cash",4],["NFC",1]],"options":{"title":"Initiatives ( 7 of 7 )"}}
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Central Bank
Key Regulations
Type of law
Legal System
Mixed legal system combining European civil law, Anglo-American law, and Chinese classical thought
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Law is based on
Sectors active in Digital Money
Allowed Models
New E-regulations introduced that recognised risk in mobile financial services.
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Needs to obtain license See Doc 69 pg 34
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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)

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{"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 %
Stock Immigrants ('000)
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
Cards 2010 ('000)
Propensity %
On Remittance Sent
On Remittance Received
Mobile Unbanked
Migrant %
MP %
Banked %
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
Registered Wallet Users
Top Wallets
All telcos support MP; Moneta Cash from SKT
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Informal Market
Cost To Remit
Key Players

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