Forecast: Number of ATMs in South Korea

Analysis of the number of ATMs in South Korea indicates a fluctuating but generally increasing trend from 2013 to 2023. In 2023, the number of ATMs stood at 125.45 thousand units. The year-on-year variation for 2023 was 0.71%, reflecting a steady growth pattern. The five-year Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 0.91%.

Future projections suggest a continued upward trend, with the number of ATMs expected to reach 129.6 thousand units by 2028, corresponding to a forecasted five-year CAGR of 0.52% and an overall 2.6% growth rate over those years.

Future trends to watch for include:

• Increasing digital banking adoption potentially influencing ATM usage.

• Technological advancements in ATM functionalities.

• Regulatory changes and their impact on the ATM network density.

• Economic factors influencing consumer banking behaviors.