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Emerging Opportunities in South Koreas Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Timetric
Published Date » 2013-01-08
No. Of Pages » 94

Synopsis

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

Key Highlights

  • NFC-enabled devices issued by telecom companies to increase scope of mobile payments
  • Government efforts and customer deleveraging to decrease scope of credit cards
  • Tax reforms to positively impact the debit card category
  • Banks enhance marketing strategies
  • Spin-off credit card units increase competition in the credit card category
  • Growth of online retail sales an important driver of the cards and payments industry
Table of Content

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 Koreas Cards and Payments Industry by Type of Card (Thousands), 20082017
Table 8: South Koreas Cards and Payments Industry Size by Volume (Thousands), 20082017
Table 9: South Koreas Cards and Payments Industry Size by Transaction Value (KRW Million)
Table 10: South Koreas Cards and Payments Industry Size by Transaction Value (US$ Million)
Table 11: South Koreas Cards and Payments Industry Size by Transaction Volume (Million)
Table 13: South Korea The Debit Card Category Size (KRW Million), 20082017
Table 14: South Korea The Debit Card Category Size (US$ Million), 20082017
Table 15: South Korea The Debit Card Category Size by Transaction Volume (Million), 20082017
Table 16: South Korea The debit card category Size by Frequency of Use
Table 17: South Korea Prepaid Card Category Size (Thousands), 20082017
Table 18: South Korea Open-Loop Prepaid Cards Segment Size (Thousands), 20082017
Table 19: South Korea Closed-Loop Prepaid Cards Segment Size (Thousands), 20082017
Table 20: South Korea Prepaid Cards Category Size (KRW Million), 20082017
Table 21: South Korea Prepaid Cards Category Size (US$ Million), 20082017
Table 22: South Korea Charge Card Category Size (Thousands), 20082017
Table 23: South Korea Charge Card Category Size (KRW Million), 20082017
Table 24: South Korea Charge Card Category Size (US$ Million), 20082017
Table 25: South Korea Charge Card Category Size by Transaction Volume (Million), 20082017
Table 26: South Korea Charge Card Category Size by Frequency of Use, 20082017
Table 27: South Korea Credit Card Category Size by Volume (Thousands), 20082017
Table 28: South Korea Credit Card Category Size by Transaction Value (KRW Million), 20082017
Table 29: South Korea Credit Card Category Size by Transaction Value (US$ Million), 20082017
Table 30: South Korea Credit Card Category Size by Transaction Volume (Million), 20082017
Table 31: South Korea Credit Card Category Size by Frequency of Use, 20082017
Table 32: South Korea Credit Card Category Size by Average Transaction Value (KRW), 20082017
Table 33: South Korea Credit Card Category Size by Average Transaction Value (US$), 20082017
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), 20082017
Figure 13: Virtual Stores at Subway Stations in South Korea
Figure 14: Value of Retail Sales in South Korea (US$, Million), 20082012
Figure 15: Country Card Fraud Statistics (KRW Million), 20082012
Figure 16: South Korea Cards and Payments Market Segmentation by Card Type
Figure 17: Cards Targeting Female Customers
Figure 18: Cards Targeting Vehicle Owners
Figure 19: Cards Targeting Frequent Foreign Travelers
Figure 20: Consumer Preferences on Various Types of Cards
Figure 21: Online Buying Behaviour in South Korea, 2008-2012
Figure 22: Internet Users by Age in South Korea, 2011
Figure 23: Share of Online Retail Sales in Total Retail Sales, 2010 and 2017
Figure 24: Share of Different Online Payment Options in South Korea (%), 2011
Figure 25: Share of Different Payment Channels in South Korea (%), 2012
Figure 26: South Korea Value and Growth of Credit Transfer (KRW Million), 20082012
Figure 27: South Korea Value and Growth of Direct Debit (KRW Million), 20082012
Figure 28: South Korea Value and Growth of Card Payments (KRW Million), 20082012
Figure 29: South Korea Value and Growth of Check Payments (KRW Million), 20082012
Figure 30: South Korea The Debit Card Category Share by Bank (%), 2011
Figure 31: South Korea Debit Card Shares by Scheme (%), 2011
Figure 32: South Korea Credit Card Shares by Bank (%), 2011
Figure 33: South Korea Credit Card Shares by Scheme (%), 2011
Figure 34: South Korea Charge Card Shares by Card Type (%), 2011
Figure 35: Leading Non-Bank Issuers In Credit Card Category By Number Of Cards (Thousands)
Figure 36: Card Marketing Strategies of South Korean Banks
Figure 37: South Koreas Cards and Payments Industry by Type of Card (%), 20082017
Figure 38: South Koreas Cards and Payments Industry Size by Volume (Thousands), 20082017
Figure 39: South Koreas Cards and Payments Industry Size by Transaction Value (KRW Million)
Figure 40: South Koreas Cards and Payments Industry Size by Transaction Volume (Million), 20082017
Figure 41: South Korea The Debit Card Category Size (Thousands), 20082017
Figure 42: South Korea The Debit Card Category Size (KRW Million), 20082017
Figure 43: South Korea The Debit Card Category Size by Transaction Volume (Million), 20082017
Figure 44: South Korea The debit card category Size by Frequency of Use, 20082017
Figure 45: Debit Card Usage ATMs and POS Terminals (Thousands), 20082017
Figure 46: South Korea Prepaid Card Category Size (Thousands), 20082017
Figure 47: South Korea Open-Loop Prepaid Cards Segment Size (Thousands), 20082017
Figure 48: South Korea Closed-Loop Prepaid Cards Segment Size (Thousands), 20082017
Figure 49: South Korea Prepaid Cards Category Size (KRW Million), 20082017
Figure 50: South Korea Charge Card Category Size (Thousands), 20082017
Figure 51: South Korea Charge Card Category Size (KRW Million), 20082017
Figure 52: South Korea Charge Card Category Size by Transaction Volume (Million), 20082017
Figure 53: South Korea Charge Card Category Size by Frequency of Use, 20082017
Figure 54: South Korea Credit Card Category Size by Volume (Thousands), 20082017
Figure 55: South Korea Credit Card Category Size by Transaction Value (KRW Million), 20082017
Figure 56: South Korea Credit Card Category Size by Transaction Volume (Million), 20082017
Figure 57: South Korea Credit Card Category Size by Frequency of Use, 20082017
Figure 58: South Korea Credit Card Category Size by Average Transaction Value (KRW), 20082017
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

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