Electronic payments in South Korea hit new high in 2024
The amount of payments made electronically in South Korea reached a record high last year, central bank data showed Thursday, as a growing number of people engaged in contact-free commerce, Yonhap reports.
The daily average amount of electronic financial transactions came to 959.4 billion won (US$657.4 million) in 2024, up 9.6 percent from a year earlier, according to the data from the Bank of Korea (BOK).
The reading marks the highest amount since the central bank began collecting data on electronic payments in 2007.
The daily average number of electronic financial transactions jumped 12.3 percent on-year to 30.7 million in 2024.
Electronic financial transactions include all internet and mobile-based payments, as well as purchases made with electronic credit and debit cards.
Earlier, it was reported that nearly half of foreign workers in South Korea work in mining and manufacturing industry.
