South Korea sees digital wallet growth and record Seoul tourism

South Korea is experiencing significant shifts in both its digital payment landscape and its tourism sector. Digital wallets are projected to capture 46% of the e-commerce market share by 2030, overtaking credit cards, which are expected to decline to 40% during the same period. In 2025, credit cards led e-commerce transactions at 49%, while digital wallets held 35%. The e-commerce payments market in South Korea is forecast to grow from $180 billion in 2025 to $236 billion by 2030.

Simultaneously, Seoul reported record-breaking tourism figures for July, welcoming 1.61 million foreign visitors. This represents a 20.8% increase compared to the previous year. Foreign visitor spending has exceeded 1 trillion won for four consecutive months, reaching 1.07 trillion won in July. While shopping remains the primary expenditure at 46.4%, there is significant growth in medical, wellness, and dining services. Chinese tourists represent the largest visitor group at 37.1%, followed by visitors from Japan and Taiwan.