Survey shows nearly 60% South Koreans using mobile payments

Nearly 60% South Koreans are using mobile payment services, according to data released by the South Korean Financial Investor Protection Foundation in Wednesday, Yonhap reported 17th.

In December last year, the foundation conducted a survey of 2,530 people aged 25-64 in Seoul, the capital Circle and the 6 metropolitan cities of South Korea (the equivalent of municipalities). The results showed that 56.8% of respondents are using mobile payment services, up 5.1 percentage points from last year.

In terms of age, the proportion of mobile payment users among respondents aged 25-29 was the highest, at 70.1%, followed by 30-39 years (67%), 40-49 years (58.2%), 50-59 years (46.9%) and 60-64 years (39.9%).

In addition, the average monthly consumption of mobile payment users is 710,000 won, an increase of 80,000 won over last year. Specifically, people aged 50-59 spent the most, 820,000 won, followed by those aged 40-49 (750,000 won), 60-64 (720,000 won), 30-39 (650,000 won) and 25-29 (600,000 won).