South Korea Credit Card Industry Outlook 2022 - 2026

Key Market Indicators

The number of credit cards in South Korea is set to reach around 104 million units by 2026, dropping slightly by 0.1% year-on-year. This figure has steadily increased since 2017, with a 2.1% year-on-year rise. In 2021, the country ranked fifth in the world, with Brazil overtaking at 106 million units. China, Japan, and Brazil respectively ranked second, third, and fourth. Credit card transactions in South Korea are set to rise to around $742 billion by 2026, growing at a rate of 1.8% year-on-year. This figure has grown considerably since 2017, with a 5% year-on-year increase. In 2021, the country came in second in the world, with the United States overtaking at $675 billion. South Korea, Japan, and Canada respectively ranked second, third, and fourth.

South Korea Credit Card Market Data and Forecasts

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