Mobile Banking Usage Hits 12.6 Trillion Won per Day... 'Record High' Renewed

The Bank of Korea Announces Domestic Banks' Internet Banking Usage Status for the First Half of 2021 on the 6th

[Asia Economy Reporter Jang Sehee] As contactless services expanded due to COVID-19, mobile banking usage performance (daily average) reached 12.6 trillion KRW in terms of amount, setting a new record. This represents a 19.8% increase compared to the second half of the previous year and is the highest since statistics began in December 2009.

According to the "Status of Domestic Banks' Internet Banking Service Usage in the First Half of 2021" announced by the Bank of Korea on the 6th, as of the end of June this year, the daily average number of mobile banking transactions and amount were 14.05 million and 12.6 trillion KRW, respectively, showing increases of 19.8% and 13.3%.

With the expansion of contactless services in banking operations, the daily average amount of internet banking usage exceeded 68 trillion KRW. Among this, mobile banking usage accounted for more than 12 trillion KRW.

As of the end of June this year, the number of registered internet banking customers at domestic banks, including mobile banking, totaled 186.57 million, a 5.6% increase compared to the end of the previous year. Among them, the number of registered mobile banking customers was 145.8 million, up 7.9%.

The number of registered individual and corporate internet banking customers was 175.09 million and 11.48 million, respectively, showing increases of 5.7% and 4.3% compared to the end of the previous year.

Accordingly, internet banking usage also increased. In the first half of 2021, the number of inquiries, fund transfers, and loan application services through internet banking (including mobile banking, daily average) reached 17.03 million transactions and 68 trillion KRW in amount. These figures represent increases of 8.6% and 10.3%, respectively, compared to the second half of the previous year.

Meanwhile, the proportion of mobile banking in total internet banking usage continues to rise, accounting for approximately 18.5% in terms of amount and 82.5% in terms of transaction count.

This content was produced with the assistance of AI translation services.