April 19, 2024

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[THE INVESTOR] A growing number of Koreans are using internet banking services as the number of daily transactions and total value reached record highs in the first quarter, central bank data showed on June 21.

The total registered number of internet and mobile banking service users came to a record of 138.1 million as of end-March, up 2.3 percent from a year earlier, according to the data from the Bank of Korea.

The number included 67.8 million users that have used the service at least once over the past year, up 3 percent from a year ago. Out of them, 62.7 million users, or 92.4 percent, did their banking on the mobile platform.

The average number of daily transactions processed via computers, mobile and smartphones came to a record 108.5 million in the January-March period, up 14 percent from a year earlier, while the average amount of money processed through such means jumped 15.7 percent to 53.7 trillion won (US$43.20 billion).

The number of daily transactions carried out on smartphones vaulted 14.6 percent on-year to 67.4 million in the first quarter, with the amount of daily transactions surging 20 percent to 5.4 trillion won over the cited period, according to the BOK.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)