The number of cards with a credit function in South Korea is expected to decline gradually over the forecasted period. Starting from 2024 with a value of 100.06 million units, the figure is projected to decrease to 98.2 million units by 2028. This represents a consistent downward trend with a year-on-year decrease of approximately 0.6% from 2024 to 2025, and this trend continues similarly in the following years. By comparing 2023, the base year, with the forecast for 2024, it is clear that the decrease is a continuation of an already apparent trend.
Future trends to watch for include:
• Increased adoption of digital payment solutions, impacting credit card usage.
• Potential changes in consumer behavior related to economic conditions or regulations.
• Technological advancements in FinTech that may offer alternatives to traditional credit functions.