Internet banking use grows 7% in H1

Sept. 15, 2022



Koreans' use of internet banking services grew 6.9 percent in the first half of this year from six months earlier as customers preferred financial services through mobile devices, central bank data showed Thursday.

The daily use of online banking services, including mobile banking, reached 18.82 million cases in the January-June period, compared with 17.61 million in the second half of last year, according to the data from the Bank of Korea (BOK).

Of them, mobile banking use grew 9.2 percent over the same period to 16.03 million cases per day.

The value of daily transactions through internet banking stood at 75.1 trillion won ($54 billion), up 2.8 percent from six months earlier.

Internet banking use has been on the rise especially in recent years as customers preferred non-contact services amid the coronavirus pandemic.

The number of internet banking subscribers registered with 19 financial institutions had come to 199.5 million as of end-June, up 4.5 percent from the end of last year. The number of mobile banking users also increased 6 percent over the same period to 162.6 million, the data showed.

The figures include multiple accounts held by customers. (Yonhap)

Selected articles from The New York Times