Mobile payment market share South Korea 2020-2023, by provider type
In 2023, approximately half of the mobile easy payment market in South Korea was dominated by electronic financial business entities. Financial companies and mobile phone manufacturers held a market share of around 26 percent each. The share of fintech companies, such as Naver Pay and Kakao Pay, in the South Korean mobile payment market has increased significantly in recent years. In contrast, the market share of banks and card companies has been steadily declining.
