Koreans Carry Less Cash

  • Arirang News

    April 17, 2019 08:24

    Koreans carry less cash these days as mobile transactions and payments are gaining in populariy.

    According to a survey by the Bank of Korea released on Tuesday, the average amount of cash people carried in 2018 was W78,000, down 33 percent from W116,000 in 2015 (US$1=W1,137). The BOK attributed the decline to the increased use of credit cards and mobile payment services.

    Some 19 percent of people hoarded less cash at home last year than the previous year, while 4.5 percent had more.

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