The Korea Herald


Internet banking transactions at new record high in H1

By Yonhap

Published : Sept. 28, 2020 - 13:28

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(Yonhap) (Yonhap)

South Korea's internet banking services continued to grow in the first half, with the number of users and daily transactions rising to new highs, central bank data showed Monday.

The number of internet banking, including mobile banking, came to 164.8 million as of end-June, up 3.5 percent from six months earlier, according to the data from the Bank of Korea (BOK).

The figure is the simple sum of all registered users at 18 internet and mobile banking service providers in the country, meaning the same person may count multiple times toward the sum, according to the BOK.

The tally came as the number of mobile banking users gained 6 percent to 128.3 million compared with six months earlier. The portion of mobile banking users accounted for 77.8 percent of total internet banking users.

The daily use of online banking services reached 208.1 million cases as of end-June, up 25.5 percent from the end of last year.

Mobile banking accounted for 60.5 percent of the total use of online banking services in the January-June period.

The value of daily financial transactions via internet banking came to 55.3 trillion won ($47.2 billion), up 10.9 percent from six months earlier, the BOK added. (Yonhap)