Amount of cash carried by Koreans down 33% in last three years: Survey
Arirang News
2019-04-16
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가벼워진 지갑…3년새 보유 현금 1/3 감소
The average amount of cash Koreans carry with them is falling rapidly.
The Bank of Korea did a survey last year on 11-hundred heads of household, and over 98 percent of them said they do carry cash.
But the average amount was around 69 U.S. dollars, down 33 percent from 2015.
The BOK attributed the decline to the more widespread use of fintech like mobile payment services.
The number of households who decreased the amount of cash they carry in the last 12 month was up 19 percent, while only 4-and-a-half percent had more cash.
The average amount of cash Koreans carry with them is falling rapidly.
The Bank of Korea did a survey last year on 11-hundred heads of household, and over 98 percent of them said they do carry cash.
But the average amount was around 69 U.S. dollars, down 33 percent from 2015.
The BOK attributed the decline to the more widespread use of fintech like mobile payment services.
The number of households who decreased the amount of cash they carry in the last 12 month was up 19 percent, while only 4-and-a-half percent had more cash.
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