A recent survey by the Bank of Korea found that only 15.9% of payments in South Korea last year were made with cash. So, just one to two out of every 10 people still use it regularly. That’s a sharp drop from over 40% a decade ago. Most Koreans now use credit or check cards, and many young adults prefer mobile payments. Older generations still rely more on cash, but its use is quickly declining across the country.
J.K. Park Staff Reporter kids/1749001339/1613368150
1. What percent of people in Korea used cash last year?
2. What kind of payments do most young adults prefer?
3. Who still uses cash more ? young people or older people?
A recent survey by the Bank of Korea found that only 15.9% of payments in South Korea last year were made with cash. So, just one to two out of every 10 people still use it regularly. That’s a sharp drop from over 40% a decade ago. Most Koreans now use credit or check cards, and many young adults prefer mobile payments. Older generations still rely more on cash, but its use is quickly declining across the country.
