The report provides market analysis, information and insights into South Korea's cards and payments industry, including:
Current and forecast values for each category of South Korea's cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
Comprehensive analysis of the industry's market attractiveness and future growth areas
Analysis of various market drivers and regulations governing South Korea's cards and payments industry
Detailed analysis of the marketing strategies adopted for selling various categories of cards such as debit, credit, prepaid and charge cards used by various bankers and other institutions in the market
Comprehensive analysis of consumer attitudes and their buying preferences for cards
Competitive landscape of South Korea's cards and payments industry
Summary
The South Korean cards and payments industry grew at a CAGR of 6.39% during the review period (2008-2012). The debit card category accounted for a CAGR of 5.21%. Over the forecast period (2013-2017) the debit card category is expected to grow at a CAGR of 4.02%. The credit card category occupied the second-largest share during the review period and grew at a CAGR of 7.29% and is expected to grow at a CAGR of 2.24% over the forecast period. The growth of the credit card category will be facilitated by the emergence of non-bank card issuers. The prepaid card category grew at a CAGR of 7.97% during the review period and is expected to grow at a CAGR of 4% over the forecast period. The charge card category posted a CAGR of -4.95% in volume terms in 2011 owing to declining demand from the corporate segment and is anticipated to decline at a CAGR of -2.22% over the forecast period.
Scope
This report provides a comprehensive analysis of South Korea's cards and payments industry
It provides current values for South Korea's cards and payments industry for 2012 and forecast figures for 2017
It details the different macroeconomic, infrastructural, consumer and business drivers affecting South Korea's cards and payments industry
It outlines the current regulatory framework in the industry
It details the marketing strategies used by various bankers and other institutions
It profiles the major banks operating in South Korea's cards and payments industry
Reasons To Buy
Make strategic business decisions using historic and forecast market data related to South Korea's cards and payments industry and each market within it
Understand the key market trends and growth opportunities within South Korea's cards and payments industry
Assess the competitive dynamics in South Korea's cards and payments industry
Gain insights into the marketing strategies used for selling various categories of cards in South Korea
Gain insights into key regulations governing South Korea's cards and payments industry
Table of Contents
Table of Contents
1. Executive Summary
2. Market Attractiveness and Future Prospects of the Cards and Payments Industry
3. Analysis of the South Korean Cards and Payments Industry Drivers
3.1. Macroeconomic Drivers
3.1.1. Inflation
3.1.2. Central Bank Benchmark Interest Rate
3.1.3. Unemployment Rate
3.2. Consumer Drivers
3.2.1. Annual disposable income
3.2.2. Increasing volume of economically active population
3.2.3. Urbanization
3.3. Infrastructure Drivers
3.3.1. USB credit cards
3.3.2. Contactless cards
3.3.3. Growth of mobile internet penetration
3.3.4. Growth of internet penetration
3.3.5. Growth of POS terminals
3.4. Business Drivers
3.4.1. Growth of online retail sales
3.4.2. Virtual stores at subway stations
3.4.3. Transportation cards
3.4.4. Growth of retail sales
3.4.5. Introduction of digital gift cards
3.5. Card Fraud Statistics
3.6. Regulatory Framework
4. Emerging Consumer Attitudes and Trends
4.1. Market Segmentation and Targeting
4.2. Consumer Preference
4.2.1. Price
4.2.2. Convenience
4.2.3. Value-added service
4.2.4. Rewards
4.2.5. Security
4.3. Online Buying Behaviour
4.3.1. Internet infrastructure and users in South Korea
4.3.2. Top e-commerce sites in South Korea
4.4. Preferred Payment Methods
5. Competitive Landscape and Industry Dynamics
5.1. Industry Share Analysis by Payment Channel
5.1.1. Overview of payment channels
5.1.2. Credit transfer
5.1.3. Direct debit
5.1.4. Cards
5.1.5. Checks
5.2. Debit Cards
5.2.1. By competitors
5.2.2. By scheme
5.3. Credit Cards
5.3.1. By competitor
5.3.2. By scheme
5.4. Charge Cards
5.4.1. By scheme
6. Strategies Adopted by Key Competitors
6.1. Market Entry Strategies
6.1.1. Market entry strategies of non-bank card issuers
6.2. Marketing / Product Strategy
6.2.1. Debit cards
6.2.2. Credit cards
6.2.3. Prepaid cards
6.3. Pricing Strategies
7. Market Size and Growth Potential of Payment Card Industry
7.1. Market Share Analysis by Type of Card
7.2. Total Size and Forecast of Card Industry
7.2.1. Analysis by number of cards
7.2.2. Analysis by transaction value
7.2.3. Analysis by transaction volume
7.3. The Debit Card Category Size and Forecast
7.3.1. Analysis by number of cards
7.3.2. Analysis by transaction value
7.3.3. Analysis by transaction volume
7.3.4. Other key performance indicators
7.4. Prepaid Card Category Size and Forecast
7.4.1. Number of cards by segment
7.4.2. Analysis by transaction value
7.5. Charge Card Category Size and Forecast
7.5.1. Analysis by number of cards
7.5.2. Analysis by transaction value
7.5.3. Analysis by transaction volume
7.5.4. Other key performance indicators
7.6. Credit Card Category Size and Forecast
7.6.1. Analysis by number of cards
7.6.2. Analysis by transaction value
7.6.3. Analysis by transaction volume
7.6.4. Other key performance indicators
8. Company Profiles, Product and Marketing Strategies
8.1. Citibank, Korea
8.1.1. Strategies
8.1.2. Debit Cards offered
8.1.3. Credit Cards offered
8.2. Woori Bank
8.2.1. Strategies
8.2.2. Debit Cards offered
8.2.3. Credit Cards offered
8.3. Daegu Bank (DGB Bank)
8.3.1. Strategies
8.3.2. Debit Cards offered
8.3.3. Credit Cards offered
9. Appendix
9.1. Methodology
9.1. Contact Us
9.2. About Timetric
9.3. Disclaimer
9.4. Definitions
9.5. Services
9.6. Disclaimer
List of Tables
Table 1: Interest Rate Changes of Central Bank of South Korea (%), 2008 - 2012
Table 2: Revised Loan Loss Reserve Requirements
Table 3: South Korea Payment Channels (KRW Million), 2008 and 2012
Table 4: Total Assets and Net Profits Of Foreign Banks In Korea By Ownership
Table 5: Daegu Bank Card Fees
Table 6: Citibank Card Fees
Table 7: South Korea's Cards and Payments Industry by Type of Card (Thousands), 2008-2017
Table 8: South Korea's Cards and Payments Industry Size by Volume (Thousands), 2008-2017
Table 9: South Korea's Cards and Payments Industry Size by Transaction Value (KRW Million)
Table 10: South Korea's Cards and Payments Industry Size by Transaction Value (US$ Million)
Table 11: South Korea's Cards and Payments Industry Size by Transaction Volume (Million)
Table 13: South Korea - The Debit Card Category Size (KRW Million), 2008-2017
Table 14: South Korea - The Debit Card Category Size (US$ Million), 2008-2017
Table 15: South Korea - The Debit Card Category Size by Transaction Volume (Million), 2008-2017
Table 16: South Korea - The debit card category Size by Frequency of Use
Table 17: South Korea - Prepaid Card Category Size (Thousands), 2008-2017
Table 18: South Korea - Open-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Table 19: South Korea - Closed-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Table 20: South Korea - Prepaid Cards Category Size (KRW Million), 2008-2017
Table 21: South Korea - Prepaid Cards Category Size (US$ Million), 2008-2017
Table 22: South Korea - Charge Card Category Size (Thousands), 2008-2017
Table 23: South Korea - Charge Card Category Size (KRW Million), 2008-2017
Table 24: South Korea - Charge Card Category Size (US$ Million), 2008-2017
Table 25: South Korea - Charge Card Category Size by Transaction Volume (Million), 2008-2017
Table 26: South Korea - Charge Card Category Size by Frequency of Use, 2008-2017
Table 27: South Korea - Credit Card Category Size by Volume (Thousands), 2008-2017
Table 28: South Korea - Credit Card Category Size by Transaction Value (KRW Million), 2008-2017
Table 29: South Korea - Credit Card Category Size by Transaction Value (US$ Million), 2008-2017
Table 30: South Korea - Credit Card Category Size by Transaction Volume (Million), 2008-2017
Table 31: South Korea - Credit Card Category Size by Frequency of Use, 2008-2017
Table 32: South Korea - Credit Card Category Size by Average Transaction Value (KRW), 2008-2017
Table 33: South Korea - Credit Card Category Size by Average Transaction Value (US$), 2008-2017
Table 34: Cards and Payments Key Definitions
List of Figures
Figure 1: Current and Future Prospects of Various Cards in South Korea
Figure 2: Growth Potential of the South Korea Cards and Payments Industry by Area of Usage
Figure 3: South Korea Cards and Payments Industry Drivers
Figure 4: Inflation Rate in South Korea (% change of average consumer prices), 2008 - 2017
Figure 5: Unemployment Rate in South Korea (% of Labour Force), 2008-2017
Figure 6: Annual Disposable Income of Population in South Korea (KRW Million), 2008-2017
Figure 7: Economically Active Population in South Korea (Million), 2008-2017
Figure 8: Urban Population in South Korea (Million), 2008-2017
Figure 9: Mobile Internet Penetration in South Korea (%), 2008-2012
Figure 10: Internet Penetration In South Korea (%), 2008-2012
Figure 11: Number of POS Terminals in South Korea (Thousands), 2008-2017
Figure 12: Value of Online Retail Sales in South Korea (KRW, Million), 2008-2017
Figure 13: Virtual Stores at Subway Stations in South Korea
Figure 14: Value of Retail Sales in South Korea (US$, Million), 2008-2012
Figure 15: Country Card Fraud Statistics (KRW Million), 2008-2012
Figure 16: South Korea Cards and Payments Market Segmentation by Card Type
Figure 46: South Korea - Prepaid Card Category Size (Thousands), 2008-2017
Figure 47: South Korea - Open-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Figure 48: South Korea - Closed-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Figure 49: South Korea - Prepaid Cards Category Size (KRW Million), 2008-2017
Figure 50: South Korea - Charge Card Category Size (Thousands), 2008-2017
Figure 51: South Korea - Charge Card Category Size (KRW Million), 2008-2017
Figure 52: South Korea - Charge Card Category Size by Transaction Volume (Million), 2008-2017
Figure 53: South Korea - Charge Card Category Size by Frequency of Use, 2008-2017
Figure 54: South Korea - Credit Card Category Size by Volume (Thousands), 2008-2017
Figure 55: South Korea - Credit Card Category Size by Transaction Value (KRW Million), 2008-2017
Figure 56: South Korea - Credit Card Category Size by Transaction Volume (Million), 2008-2017
Figure 57: South Korea - Credit Card Category Size by Frequency of Use, 2008-2017
Figure 58: South Korea - Credit Card Category Size by Average Transaction Value (KRW), 2008-2017
Figure 59: Citibank Korea, Market Segmentation of Cards Offered
Figure 60: Woori Bank Market Segmentation of Cards Offered
Figure 61: Daegu Bank Market Segmentation of Cards Offered
Emerging Opportunities in South Korea's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape published by Timetric in January 8, 2013. This report consists of Pages: 94 and the price starts from US $ 4495.
Press Release
Emerging Opportunities in South Korea's Cards and Payments Industry
January 17th, 2013
Global Information Inc. would like to present a new market research report, "Emerging Opportunities in South Korea's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape" by Timetric.
The South Korean cards and payments industry grew at a CAGR of 6.39% during the review period (2008 - 2012). The debit card category accounted for a CAGR of 5.21%. Over the forecast period (2013 - 2017) the debit card category is expected to grow at a CAGR of 4.02%. The credit card category occupied the second-largest share during the review period and grew at a CAGR of 7.29% and is expected to grow at a CAGR of 2.24% over the forecast period. The growth of credit card category will be facilitated by the emergence of non-bank card issuers. The prepaid card category grew at a CAGR of 7.97% during the review period and is expected to grow at a CAGR of 4% over the forecast period. The charge card category posted a CAGR of -4.95% in volume terms in 2011 owing to a declining demand from the corporate segment and is anticipated to decline at a CAGR of -2.22% over the forecast period.
NFC-enabled devices issued by telecom companies to increase scope of mobile payments
Mobile commerce transactions are expected to record positive growth as telecom operators introduce NFC-based platforms for mobile devices. SK Telecom and KT jointly sold 250,000 NFC-enabled Samsung Galaxy Notes in December 2011 alone. Mobile operator KT rolled out NFC-enabled SIM cards in 2010 and South Koreas third-largest mobile operator LG U+ also rolled out NFC phones such as the LG Optimus. KT has estimated that the cumulative sales of NFC-enabled phones sold by all operators will reach 20 million by the end of 2012. Telecom companies are also replacing traditional SIM cards with NFC-enabled SIM cards which is expected to increase scope of card-based payments.
Government efforts and customer deleveraging to decrease scope of credit cards
An increase in household debt has prompted the South Korean government to introduce measures to discourage credit card spending. The government reduced the amount of tax deducted from credit card transactions and increased the level of tax deducted from debit and prepaid card expenditure. During the first three-quarters of 2011, merchandize credit valued KRW1.6 trillion (US$1.4 billion). Comparatively, the merchandize credit offered by credit card companies during the first three-quarters of 2012 reduced to KRW100 billion (US$90 million).
Key highlights of this title
Government efforts and customer deleveraging to decrease scope of credit cards; Tax reforms to positively impact the debit card category; Spin-off credit card units increase competition in the credit card category; NFC-enabled devices issued by telecom companies to increase scope of mobile payments
