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South Korea's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

NEW YORK, Aug 20, 2014 /PRNewswire/ --

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South Korea's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

http://www.reportlinker.com/p02029322/South-Korea's-Cards-and-Payments-Industry-Emerging-Opportunities-Trends-Size-Drivers-Strategies-Products-and-Competitive-Landscape .html

Synopsis

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

Summary

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.

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.

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.

Table of Contents
1 Executive Summary
2 Analysis of Industry Environment, Key Trends and Drivers
2.1 Payment Infrastructure and emerging technologies
2.1.1 Automatic Teller Machines (ATMs)
2.1.2 Point of sale (POS) terminals
2.1.3 Internet penetration
2.1.4 Contactless technologies/NFC technology
2.1.5 EMV
2.2 Business Drivers
2.2.1 Growth of online commerce
2.2.2 Retail sales value
2.2.3 M-Payment value
2.3 Economic Drivers
2.3.1 GDP growth
2.3.2 GDP per capita income
2.3.3 Inflation
2.3.4 Low unemployment
3 Cards and Payments Industry Share Analysis
3.1 Industry Overview
3.1.1 Cash

3.1.2 Checks
3.1.3 Direct debits
3.1.4 Credit transfers
3.1.5 Cards
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Foreign direct investment (FDI) regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present
4.2.2 Counterfeit cards
4.2.3 Cards lost or stolen
4.2.4 Card ID theft
5 Emerging Consumer Attitudes and Trends
5.1 Market Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound tourists volume
5.2.2 Outbound tourist spending
5.3 Retail Card Spending
5.3.1 Analysis by product categories

5.3.2 Analysis by retail channels
6 Analysis of Card Payments and Growth Prospects
6.1 Channel Share Analysis by Card Category
6.2 Size and Forecast of the Card Payments Channel
6.2.1 Analysis by volume of cards in circulation
6.2.2 Analysis by transaction value
7 Analysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.1 Analysis by volume of cards in circulation
7.1.2 Analysis by transaction value
7.1.3 Analysis by transaction volume
7.2 Transaction Share Analysis by Channel
7.2.1 Analysis by transaction value
7.2.2 Analysis by transaction volume
7.3 Personal Credit Cards Size and Forecast
7.3.1 Analysis by volume of cards in circulation
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.4 Commercial Credit Cards Size and Forecast
7.4.1 Analysis by number of cards in circulation
7.4.2 Analysis by transaction value
7.4.3 Analysis by transaction volume
7.5 Competitive Landscape
7.5.1 Scheme share analysis
7.5.2 Issuer share analysis
8 Analysis of Debit Card Payments and Growth Prospects
8.1 Overall Category Size and Forecast
8.1.1 Analysis by volume of cards in circulation

8.1.2 Analysis by transaction value
8.1.3 Analysis by transaction volume
8.2 Transaction Share Analysis by Channel
8.2.1 Analysis by transaction value
8.2.2 Analysis by transaction volume
8.3 Competitive Landscape
8.3.1 Scheme share analysis
8.3.2 Issuer share analysis
9 Analysis of Charge Card Payments and Growth Prospects
9.1 Overall Category Size and Forecast
9.1.1 Analysis by volume of cards in circulation
9.1.2 Analysis by transaction value
9.1.3 Analysis by transaction volume
9.2 Transaction Share Analysis by Channel
9.2.1 Analysis by transaction value
9.2.2 Analysis by transaction volume
9.3 Personal Charge Cards Size and Forecast
9.3.1 Analysis by number of cards in circulation
9.3.2 Analysis by transaction value
9.3.3 Analysis by transaction volume

9.4 Commercial Charge Cards Size and Forecast
9.4.1 Analysis by volume of cards in circulation
9.4.2 Analysis by transaction value
9.4.3 Analysis by transaction volume
9.5 Competitive Landscape
9.5.1 Scheme share analysis
9.5.2 Issuer share analysis
10 Analysis of Prepaid Card Payments and Growth Prospects
10.1 Overall Category Size and Forecast
10.1.1 Analysis by volume of cards in circulation
10.1.2 Analysis by transaction value
10.2 Open-Loop Prepaid Cards Segment Size and Forecast
10.2.1 Analysis by number of cards in circulation
10.2.2 Analysis by transaction value
10.3 Closed-Loop Prepaid Cards Segment Size and Forecast
10.3.1 Analysis by volume of cards in circulation
10.3.2 Analysis by transaction value
11 Merchant Acquiring
11.1 Merchant Acquirers in the Country

12 Company Profiles of Card Issuers
12.1 Shinhan Bank
12.1.1 Key financials
12.1.2 Card portfolio
12.1.3 Strategies
12.2 Woori Bank
12.2.1 Key financials
12.2.2 Card portfolio
12.2.3 Strategies
12.3 KEB Card
12.3.1 Key financials
12.3.2 Card portfolio
12.3.3 Strategies
12.4 Samsung Card
12.4.1 Key financials
12.4.2 Card portfolio
12.4.3 Strategies
12.5 Citibank Korea
12.5.1 Key financials
12.5.2 Card portfolio
12.5.3 Strategies
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Definitions

13.6 Disclaimer

List of Tables

Table 1: South Korea ? Payment Channels (KRW Trillion), 2009–2013
Table 2: South Korea ? Revised Loan Loss Reserve Requirements, 2011
Table 3: South Korea ? Market Entry Strategy of Foreign Banks
Table 4: South Korea ? Card Fraud (KRW Billion), 2009–2013
Table 5: South Korea ? Specialized Credit Cards for Women, 2013
Table 6: South Korea ? Cards Targeting Vehicle Owners, 2013
Table 7: South Korea – Cards Targeting Frequent Foreign Travelers, 2013
Table 8: South Korea ? Cards Targeting Retail Shoppers, 2013
Table 9: South Korea ? Cards Offering Benefits on Financial Services, 2013
Table 10: South Korea ? Cards Targeting Business Customers, 2013
Table 11: South Korea ? Consumer Card Spending by Product Category (KRW billion), 2008 and 2012
Table 12: South Korea ? Consumer Spending through Cards by Retail Channel (KRW billion), 2008 and 2012
Table 13: South Korea ? Card Payments Channel by Card Category (Million), 2009–2018
Table 14: South Korea ? Card Payments Channel Size by Volume of Cards (Million), 2009–2018
Table 15: South Korea ? Card Payments Channel Size by Transaction Value (KRW Trillion), 2009–2018
Table 16: South Korea ? Card Payments Channel Size by Transaction Value (US$ Billion), 2009–2018

Table 17: South Korea ? Credit Cards Category Size by Volume of Cards (Million), 2009–2018
Table 18: South Korea ? Credit Cards Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 19: South Korea ? Credit Cards Category Size by Transaction Value (US$ Billion), 2009–2018
Table 20: South Korea ? Credit Card Category Size by Transactions Volume (Billion), 2009–2018
Table 21: South Korea ? Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2009–2018
Table 22: South Korea ? Personal Credit Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 23: South Korea ? Personal Credit Cards Sub-Category Size by Transaction Value (US$ Billion), 2009–2018
Table 24: South Korea ? Personal Credit Cards Sub-Category Size by Transactions Volume (Billion), 2009–2018
Table 25: South Korea ? Commercial Credit Cards Sub-Category Size by Volume of Cards (Million), 2009–2018
Table 26: South Korea ? Commercial Credit Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 27: South Korea ? Commercial Credit Cards Sub-Category Size by Transaction Value (US$ Billion), 2009–2018
Table 28: South Korea ? Commercial Credit Cards Sub-Category Size by Transactions Volume (Million), 2009–2018
Table 29: South Korea ? Debit Cards Category Size by Volume of Cards (Million), 2009–2018
Table 30: South Korea ? Debit Cards Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 31: South Korea ? Debit Cards Category Size by Transaction Value (US$ Billion), 2009–2018

Table 32: South Korea ? Debit Cards Category Size by Transactions Volume (Billion), 2009–2018
Table 33: South Korea ? Charge Cards Category Size by Volume of Cards (Thousand), 2009–2018
Table 34: South Korea ? Charge Cards Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 35: South Korea ? Charge Cards Category Size by Transaction Value (US$ Billion), 2009–2018
Table 36: South Korea ? Charge Cards Category Size by Transactions Volume (Million), 2009–2018
Table 37: South Korea ? Personal Charge Cards Sub-Category Size by Volume of Cards (Thousand), 2009–2018
Table 38: South Korea ? Personal Charge Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009–2018
Table 39: South Korea ? Personal Charge Cards Sub-Category Size by Transaction Value (US$ Billion), 2009–2018
Table 40: South Korea ? Personal Charge Cards Sub-Category Size by Transactions Volume (Million), 2009–2018
Table 41: South Korea ? Commercial Charge Cards Sub-Category Size by Volume of Cards (Thousand), 2009–2018
Table 42: South Korea ? Commercial Charge Cards Sub-Category Size by Transaction Value (KRW Billion), 2009–2018
Table 43: South Korea ? Commercial Charge Cards Sub-Category Size by Transaction Value (US$ Million), 2009–2018
Table 44: South Korea ? Commercial Charge Cards Sub-Category Size by Transactions Volume (Million), 2009–2018
Table 45: South Korea ? Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018
Table 46: South Korea ? Prepaid Cards Category Size by Transaction Value (KRW Billion), 2009–2018

Table 47: South Korea ? Prepaid Cards Category Size by Transaction Value (US$ Million), 2009–2018
Table 48: South Korea ? Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009–2018
Table 49: South Korea ? Open-Loop Prepaid Cards Segment Size by Transaction Value (KRW Billion), 2009–2018
Table 50: South Korea ? Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 51: South Korea ? Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009–2018
Table 52: South Korea ? Closed-Loop Prepaid Cards Segment Size by Transaction Value (KRW Billion), 2009–2018
Table 53: South Korea ? Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 54: Shinhan Financial Group – Key Financial Indicators (KRW Trillion), December 2011 and 2012
Table 55: Shinhan Bank – Card Product Offerings and Key Features
Table 56: Woori Bank – Key Financial Indicators (KRW Trillion), December 2011 and 2012
Table 57: Woori Bank – Card Product Offerings and Key Features
Table 58: KEB – Key Financial Indicators (KRW Trillion), December 2011 and 2012
Table 59: KEB – Card Product Offerings and Key Features
Table 60: Samsung Card – Key Financial Indicators (KRW Billion), December 2011 and 2012
Table 61: Samsung Card – Card Product Offerings and Key Features
Table 62: Citi Group – Key Financial Indicators (US$ Billion), December 2011 and 2012
Table 63: Citibank Korea – Card Product Offerings and Key Features
Table 64: Key Definitions

List of Figures

Figure 1: South Korea Benchmarking Payment Cards Channel Against Other Regional Markets
Figure 2: South Korea - Growth of Various Card Categories (%), 2009-2018
Figure 3: South Korea ATMs Penetration, 2009-2018
Figure 4: South Korea POS Terminals Penetration, 2009-2018
Figure 5: South Korea Internet Penetration (Users Per 100 Inhabitants), 2008-2012
Figure 6: South Korea Retail Sales Value (KRW Trillion), 2009-2018
Figure 7: South Korea M-Payments Value (KRW Billion), 2009-2018
Figure 8: South Korean GDP Growth Rate (%), 2008-2017
Figure 9: South Korea GDP Per Capita Income Growth (US$), 2008-2017
Figure 10: South Korea Inflation Rate (%), 2008-2017
Figure 11: South Korea Unemployment Rate (%), 2008-2017
Figure 12: South Korea Share of Payment Channels (%), 2009 and 2013
Figure 13: South Korea Various Types of Card Fraud (%), 2009 and 2013
Figure 14: South Korea Card-Not-Present Fraud Value (KRW Billion), 2009-2013
Figure 15: South Korea Counterfeit Card Fraud Value (KRW Billion), 2009-2013
Figure 16: South Korea Cards Lost or Stolen Fraud Value in South Korea (KRW Billion), 2009-2013
Figure 17: South Korea Card ID Theft Fraud Value in South Korea (KRW Billion), 2009-2013
Figure 18: South Korea Cards and Payments Industry Segmentation by Card Type, 2013
Figure 19: South Korea Volume of Outbound Departures (Million), 2009-2018
Figure 20: South Korea Outbound Tourists Spending (KRW Trillion), 2009-2018
Figure 21: South Korea Retail Consumer Card Spending by Product Category (%), 2012
Figure 22: South Korea Retail Consumer Card Spending by Retail Channel (%), 2012

Figure 23: South Korea Card Payments Channel by Card Category (%), 2009-2018
Figure 24: South Korea Card Payments Channel Size by Volume of Cards (Million), 2009-2018
Figure 25: South Korea Card Payments Channel Size by Transaction Value (KRW Trillion), 2009-2018
Figure 26: South Korea Credit Cards Volume and Penetration, 2009-2018
Figure 27: South Korea Credit Cards Category Size by Volume of Cards (Million), 2009-2018
Figure 28: South Korea Credit Cards Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 29: South Korea Card Category Size by Transactions Volume (Billion), 2009-2018
Figure 30: South Korea Credit Card Transactions Value by Channel (KRW Trillion), 2009-2018
Figure 31: South Korea Credit Card Transactions Volume by Channel (Million), 2009-2018
Figure 32: South Korea Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2009-2018
Figure 33: South Korea Personal Credit Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 34: South Korea Personal Credit Cards Sub-Category Size by Transactions Volume (Billion), 2009-2018
Figure 35: South Korea Commercial Credit Cards Sub-Category Size by Volume of Cards (Million), 2009-2018
Figure 36: South Korea Commercial Credit Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 37: South Korea Commercial Credit Cards Sub-Category Size by Transactions Volume (Million), 2009-2018
Figure 38: South Korea Credit Cards Category Share by Scheme (%), 2013
Figure 39: South Korea Credit Cards Category Share by Bank (%), 2013
Figure 40: South Korea Debit Cards Category Volume and Penetration, 2009-2018
Figure 41: South Korea Debit Card Category Size by Volume of Cards (Million), 2009-2018
Figure 42: South Korea Debit Cards Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 43: South Korea Debit Cards Category Size by Transactions Volume (Billion), 2009-2018
Figure 44: South Korea Debit Cards Category Transactions Value Share Analysis by Channel (KRW Trillion), 2009-2018
Figure 45: South Korea Debit Card Transactions Volume Share Analysis by Channel (Billion), 2009-2018
Figure 46: South Korea Debit Cards Category Share by Scheme (%), 2013

Figure 47: South Korea Debit Cards Category Share by Bank (%), 2013
Figure 48: South Korea Charge Cards Category Volume and Penetration, 2009-2018
Figure 49: South Korea Charge Card Category Size by Volume of Cards (Thousand), 2009-2018
Figure 50: South Korea Charge Cards Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 51: South Korea Charge Cards Category Size by Transactions Volume (Million), 2009-2018
Figure 52: South Korea Charge Card Transactions Value Share Analysis by Channel (KRW Trillion), 2009-2018
Figure 53: South Korea Charge Card Transactions Volume Share Analysis by Channel (Million), 2009-2018
Figure 54: South Korea Personal Charge Cards Sub-Category Size by Volume of Cards (Thousand), 2009-2018
Figure 55: South Korea Personal Charge Cards Sub-Category Size by Transaction Value (KRW Trillion), 2009-2018
Figure 56: South Korea Personal Charge Cards Sub-Category Size by Transactions Volume (Million), 2009-2018
Figure 57: South Korea Commercial Charge Cards Sub-Category Size by Volume of Cards (Thousand), 2009-2018
Figure 58: South Korea Commercial Charge Cards Sub-Category Size by Transaction Value (KRW Billion), 2009-2018
Figure 59: South Korea Commercial Charge Cards Sub-Category Size by Transaction Volume (Million), 2009-2018

Figure 60: South Korea Charge Cards Category Share by Scheme (%), 2013
Figure 61: South Korea Charge Cards Category Share by Issuer (%), 2013
Figure 62: South Korea Prepaid Cards Category Volume and Penetration, 2009-2018
Figure 63: South Korea Prepaid Cards Category Size by Volume of Cards (Million), 2009-2018
Figure 64: South Korea Prepaid Cards Category Size by Transaction Value (KRW Billion), 2009-2018
Figure 65: South Korea Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009-2018
Figure 66: South Korea Open-Loop Prepaid Cards Segment Size by Transaction Value (KRW Billion), 2009-2018
Figure 67: South Korea Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009-2018
Figure 68: South Korea Closed-Loop Prepaid Cards Segment Size by Transaction Value (KRW Billion), 2009-2018
Figure 69: South Korea Market Shares of Key Acquirers (%), 2012

To order this report: South Korea's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
http://www.reportlinker.com/p02029322/South-Korea's-Cards-and-Payments-Industry-Emerging-Opportunities-Trends-Size-Drivers-Strategies-Products-and-Competitive-Landscape.html 


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