In Korea, people spend an average of 324,000 won in cash per month. Compared with four years ago, cash expenditure fell 36% as simple payments such as mobile pay spread. The scale of cash use by corporations shrank even more, dropping to about one-ninth over four years.
According to the Bank of Korea's "Comprehensive survey on currency use by economic agents in 2025" released on the 26th, the average monthly cash expenditure by adults aged 19 and older was 324,000 won, down 182,000 won (36%) from 2021 (506,000 won). The share of cash in total expenditure also fell from 21.6% to 17.4% over the same period.
The decline in cash use by corporations was larger. The average monthly cash expenditure by corporations was 1,127,000 won, down 7,990,000 won from 2021 (9,117,000 won). The share of cash in total expenditure was only 1.9%. By industry, cash use fell sharply in manufacturing, and by number of employees, it fell mainly among corporations with 10 to fewer than 50 employees.
By contrast, cash holdings increased sharply for both individuals and corporations. The average cash held per person was 644,000 won, up 208,000 won (47.7%) from 2021 (436,000 won). Of this, cash for transaction purposes was 103,000 won and precautionary cash was 541,000 won. In particular, precautionary cash holdings rose 52.8% over the same period, indicating a stronger tendency to prepare for uncertainty.
Corporations also showed a clear tendency to stockpile cash. The average cash held by corporations was 9,778,000 won, up 5,083,000 won (108.3%) from 2021 (4,695,000 won). The share of corporations with cash holdings of 10 million won or more nearly doubled from 6.4% to 12.8% over the same period. In a related survey, 36.3% of corporations cited "to prepare for increased uncertainty in the business environment" as the reason for increased cash holdings.
Regarding a "cashless society," negative views predominated among both individuals and corporations. Among individual respondents, 45.8% opposed a cashless society, and among corporations, opposition (29.0%) exceeded support (16.3%). Main reasons for opposition included transaction inconvenience for financially vulnerable people and difficulty engaging in economic activity in emergencies.
Meanwhile, the survey covered 2,000 adults aged 19 or older, 1,210 general businesses with five or more employees, 930 major cash-handling companies, and 100 financial institutions. The survey was conducted through one-on-one interviews using tablet PCs, and the period was from Apr. 10 to Aug. 11.