year-end tax settlement - WHY KOREANS ARE

Is Korea a Cashless Society? Why Koreans Pay by Card

November 3, 2026 by WHY KOREANS ARE

A hand tapping a transit card on a payment reader at a cafe counter in Korea

Is Korea cashless? Cash was only 15.9% of payments in 2024. See how a 1999 tax policy built cashless Korea and what visitors and expats should carry.

Why Do Koreans Split Their Salary Across Bank Accounts?

October 27, 2026October 27, 2026 by WHY KOREANS ARE

A Korean banking app showing several separate accounts used to divide a monthly salary.

Korean households route each payday into separate accounts by purpose. Free instant transfers, card tax deductions and lump-sum housing goals make it rational.