South Korea Digital Remittance Market Size & Outlook
The digital remittance market in South Korea is expected to reach a projected revenue of US$ 790.6 million by 2030. A compound annual growth rate of 16.7% is expected of South Korea digital remittance market from 2025 to 2030.
Revenue, 2024 (US$M)
$321.9
Forecast, 2030 (US$M)
$790.6
CAGR, 2025 - 2030
16.7%
Report Coverage
South Korea
South Korea Digital Remittance Market, 2018-2030 (US$M)
Global Market
Related Markets
South Korea digital remittance market highlights
- The South Korea digital remittance market generated a revenue of USD 321.9 million in 2024 and is expected to reach USD 790.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.7% from 2025 to 2030.
- In terms of segment, outward digital remittance was the largest revenue generating type in 2024.
- Inward Digital Remittance is the most lucrative type segment registering the fastest growth during the forecast period.
Digital remittance market data book summary
| Market revenue in 2024 | USD 321.9 million |
| Market revenue in 2030 | USD 790.6 million |
| Growth rate | 16.7% (CAGR from 2025 to 2030) |
| Largest segment | Outward digital remittance |
| Fastest growing segment | Inward Digital Remittance |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Inward Digital Remittance, Outward Digital Remittance |
| Key market players worldwide | Sony Group Corp, PayPal Holdings Inc, Wise PLC Class A, The Western Union Co |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global digital remittance market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China digital remittance market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,542.4 million by 2030.
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Publish Date: Jan 30, 2025
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Digital Remittance Market Scope
Digital Remittance Market segmentation & scope
Digital Remittance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sony Group Corp | View profile | 113,000 | 7-1, Konan 1-Chome, Minato-ku, Tokyo, Japan, 108-0075 | www.sony.com |
| PayPal Holdings Inc | View profile | 27,200 | 2211 North First Street, San Jose, CA, United States, 95131 | www.paypal.com |
| Wise PLC Class A | View profile | 5,157 | 56 Shoreditch High Street, 6th Floor, Tea Building, London, United Kingdom, E1 6JJ | www.wise.com |
| The Western Union Co | View profile | 9,000 | 7001 East Belleview Avenue, Denver, CO, United States, 80237 | www.westernunion.com |
| World Remit | View profile | 1001-5000 | London, England, United Kingdom, Europe | worldremit.com |
| MoneyGram International | View profile | 1001-5000 | Dallas, Texas, United States, North America | www.moneygram.com/intl/ |
| Azimo | View profile | 51-100 | London, England, United Kingdom, Europe | azimo.com |
| Digital Wallet Corporation | View profile | 51-100 | Tokyo, Tokyo, Japan, Asia | digitalwallet.global |
| InstaReM | View profile | 251-500 | Singapore, Central Region, Singapore, Asia | www.instarem.com |
| TransferGo | View profile | 251-500 | London, England, United Kingdom, Europe | www.transfergo.com |
South Korea Digital Remittance Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Digital Remittance Market Outlook will help companies and investors design strategic landscapes.
Outward Digital Remittance was the largest segment with a revenue share of 65.08% in 2024.
Horizon Databook has segmented the South Korea digital remittance market based on inward digital remittance, outward digital remittance covering the revenue growth of each sub-segment from 2018 to 2030.
- South Korea Digital Remittance Market Type Outlook (Revenue, USD Million , 2018-2030)
- Inward Digital Remittance
- Outward Digital Remittance
- South Korea Digital Remittance Market Channel Outlook (Revenue, USD Million , 2018-2030)
- Banks
- Money Transfer Operators
- Online Platforms
- Others
- South Korea Digital Remittance Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Migrant Labor Workforce
- Personal
- Small Businesses
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Digital Remittance Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Digital Remittance Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Digital Remittance Market, 2018-2030 (US$M)
South Korea digital remittance market statistics, by type, 2018-2030 (US$M)
