Formal & Mobile Money Borrowing Statistics in South Korea (2026)
According to World Bank Global Findex data, 68.6% of adults in South Korea borrowed from a formal financial institution or using a mobile money account in 2021. Up from 63.2% in 2017 to 68.6% in 2021 (+5.5 percentage points). South Korea ranks #2 of 16 economies in East Asia & Pacific on this measure, and #5 of 142 globally.
Key Statistics
- Latest value (2021)
- 68.6% (2021)
- Formal & Mobile Money Borrowing in South Korea as of 2021, the most recent observation in World Bank Global Findex data.
- Change since 2017
- +5.5 pp (2021)
- Up from 63.2% in 2017 to 68.6% in 2021 (+5.5 percentage points).
- Earliest value in this dataset (2014)
- 56.9% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 56.9% in 2014 to 68.6% in 2021.
- Record high (2021)
- 68.6% (2021)
- The 2021 value is the highest in the available World Bank Global Findex series for South Korea.
- Rank in East Asia & Pacific
- #2 of 16 (2021)
- South Korea ranks 2 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #5 of 142 (2021)
- South Korea ranks 5 of 142 countries with data globally.
- East Asia & Pacific average
- 34.1% (2021)
- South Korea (68.6%) is above the average of 34.1% across the 16 countries in East Asia & Pacific with data.
- Borrowed from a formal bank or similar financial institution (% age 15+) (2021)
- 68.6% (2021)
- Related indicator from World Bank Global Findex.
- Internet use in South Korea (2024)
- 97.9% (2024)
- 97.9% of the population in South Korea used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 51.8 million (2024)
- South Korea had a population of 51.8 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2021
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2021 | 68.6% | +5.5 pp |
| 2017 | 63.2% | +6.3 pp |
| 2014 | 56.9% | — |
Frequently asked questions
What share of adults in South Korea borrowed from a formal financial institution or using a mobile money account?
68.6% of adults in South Korea borrowed from a formal financial institution or using a mobile money account in 2021, according to World Bank Global Findex data.
How has formal & mobile money borrowing in South Korea changed over time?
World Bank Global Findex data show a rise from 56.9% in 2014 to 68.6% in 2021.
How does South Korea compare with other countries in East Asia & Pacific?
South Korea ranks 2 of 16 countries in East Asia & Pacific with data, with 68.6% versus a regional average of 34.1% (latest values per country).
Where does South Korea rank globally on formal & mobile money borrowing?
South Korea ranks 5 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
How recent is the formal & mobile money borrowing data for South Korea?
The most recent observation is from 2021. World Bank Global Findex data is reported with a lag, so 2021 is the latest available year for South Korea.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a.22a1.22g.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .