Credit Cards in South Korea
SummaryCredit Cards in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- A credit card is a financial product provided by a bank or financial institution that enables the cardholder to borrow money up to an established credit limit for making purchases or withdrawing cash. The cardholder must repay the borrowed amount, either in full or over time, with interest and fees applied if the balance is not settled by the due date. The market scope covers the consumer credit cards market.
- The South Korean credit cards sector recorded balances outstanding of $92.5 billion in 2024, representing a compound annual growth rate (CAGR) of 6.1% between 2019 and 2024.
- Sector consumption volume increased with a CAGR of 5.1% between 2019 and 2024, reaching a total of 19.0 billion transactions in 2024.
- South Korea accounted for a share of 5.9% of the Asia-Pacific credit cards sector in 2024.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the credit cards market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the credit cards market in South Korea
- Leading company profiles reveal details of key credit cards market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea credit cards market with five year forecasts
Reasons To Buy
- What was the size of the South Korea credit cards market by value in 2024?
- What will be the size of the South Korea credit cards market in 2029?
- What factors are affecting the strength of competition in the South Korea credit cards market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's credit cards market?
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