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MarketResearchReports.com: South Korea's Cards and Payments Industry, New Report Launched

Market Research Reports, Inc. has announced the addition of “South Korea's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” research report to their offering.

 

Lewes, DE -- (ReleaseWire) -- 02/20/2014 -- The South Korean card payments channel registered growth during the review period (2009–2013) posting a compound annual growth rate (CAGR) of 4.22% to reach 294.4 million cards in circulation by the end of 2013. The card payments channel valued KRW986.0 trillion (US$899.5 billion) in 2013. Changing lifestyle demographics, the increased popularity of online shopping and higher disposable income per capita supported the growth of the volume of cards in circulation. The debit card category occupied the largest share and grew at a review-period CAGR of 4.19%. Over the forecast period (2014?2018) the debit card category is expected to post a CAGR of 1.84%. The credit card category occupied the second-largest share at a review-period CAGR of 2.82%. The credit card category is expected to register a forecast-period CAGR of 1.80%. An increase in household debt burden has prompted the South Korean government to introduce measures to discourage credit card spending.

The government reduced tax deductions on credit card transactions and increased tax deductions for debit and prepaid cards. During the first three quarters of 2011, merchandize credit valued KRW1.6 trillion (US$1.44 billion), whereas during the first three quarters of 2012, that value was reduced to KRW0.1 trillion (US$90 million). Spin-off credit card units are expected to increase competition over the forecast period. Many banks and non-bank firms opt for spin-off credit card firms in association with existing competitors such as telecom operators.

Inquiry for more information visit: http://www.marketresearchreports.com/timetric/south-koreas-cards-and-payments-industry-emerging-opportunities-trends-size-drivers

The report provides top-level 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 and prepaid 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 debit, credit and prepaid cards used by banks and other institutions in the market
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of South Korea's cards and payments industry

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 2013, and forecast figures for the period up to 2018.
- It details the different economic, infrastructural 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 banks and other institutions.
- It profiles the major banks in South Korea's cards and payments industry.

Browser reports related to South Korea at : http://www.marketresearchreports.com/countries/south-korea

Reasons To Buy
- Make strategic business decisions using top-level 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 in to the marketing strategies used for selling various card types in South Korea.
- Gain insights into key regulations governing South Korea's cards and payments industry.

Key Highlights
- The South Korean card payments channel registered growth during the review period (2009–2013) posting a compound annual growth rate (CAGR) of 4.22% to reach 294.4 million cards in circulation by the end of 2013. The card payments channel valued KRW986.0 trillion (US$899.5 billion) in 2013.
- The debit card category occupied the largest share and grew at a review-period CAGR of 4.19%. Over the forecast period (2014?2018) the debit card category is expected to post a CAGR of 1.84%. The credit card category occupied the second-largest share at a review-period CAGR of 2.82%. The credit card category is expected to register a forecast-period CAGR of 1.80%.
- NFC-based platforms for smartphones increased the volume of mobile commerce (m-commerce) transactions in South Korea. SK Telecom and KT jointly sold 250,000 NFC-enabled Samsung Galaxy Notes in December 2011 alone.
- An increase in household debt burden has prompted the South Korean government to introduce measures to discourage credit card spending. The government reduced tax deductions on credit card transactions and increased tax deductions for debit and prepaid cards. During the first three quarters of 2011, merchandize credit valued KRW1.6 trillion (US$1.44 billion), whereas during the first three quarters of 2012, that value was reduced to KRW0.1 trillion (US$90 million). - Spin-off credit card units are expected to increase competition over the forecast period. Many banks and non-bank firms opt for spin-off credit card firms in association with existing competitors such as telecom operators. In 2010, Hana Financial established a joint venture with SK Telecom, South Korea's leading mobile operator. Similarly, Woori bank span-off its credit card division in March, 2013, while Kookmin bank, part of the KB Financial Group span-off its credit card unit in 2011.

Spanning over 104 pages, 64 tables and 69 figures “South Korea's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” report covering The Analysis of Industry Environment, Key Trends and Drivers, Cards and Payments Industry Share Analysis, Regulatory Framework and Card Fraud Statistics, Emerging Consumer Attitudes and Trends, Analysis of Card Payments and Growth Prospects, Analysis of Credit Card Payments and Growth Prospects, Analysis of Debit Card Payments and Growth Prospects, Analysis of Charge Card Payments and Growth Prospects, Analysis of Prepaid Card Payments and Growth Prospects, Merchant Acquiring, Company Profiles of Card Issuers, Appendix. The report covered 9 companies- Shinhan Bank, Woori Bank, Korea Exchange Bank Nonghyup Bank, Samsung Card Hyundai Card KB Kookmin Card, Citibank Korea, MasterCard, Visa, American Express, Diners Club.

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