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Paving a Path to Success of Mobile Payments in South Korea

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31 January 2013
KyongSun Kong
A couple of years ago when smartphones had not spread much, I wrote a report about mobile payments in South Korea. Now, in South Korea, there are over 30 million smartphone subscribers. That is to say, the environment of mobile payments has been changed in recent years. These trends are examined in Celent’s latest report on mobile payments in South Korea. I mentioned about smartphone market and mobile payments market in South Korea in our Asia Celent blog. South Korea is one of the leaders in mobile payment market in the world. They have attempted new challenges for the decade. In the new Celent report, Mobile Payments in South Korea: Succeeding in a Diversified Market, there are a number of interesting findings for the current South Korea’s mobile payment market. To cite a case, the report examines the Hana SK Card, which is leading the mobile credit card segment, recording a 661.7% compound annual growth rate (CAGR) in payments from 2010 to 2012, with a CAGR of 569.5% forecast for the period 2010 to 2013.Capture In addition, a number of conditions will pave the path for continued growth in the nation’s mobile payments market moving forward. You can find them in our new report! Please drop by our website at www.celent.com.

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