The Buy Now Pay Later (BNPL) market in South Korea is on a trajectory of rapid growth, projected to reach a value of USD 4.30 billion in 2025, with an annual growth rate of 13.8%. Between 2021 and 2024, the market has already seen a compound annual growth rate (CAGR) of 23.6%, and it is expected to continue expanding at a CAGR of 10.1% through 2030. This growth is primarily fueled by the rise of e-commerce and consumer demand for flexible payment solutions. Major players like Naver Financial and Coupang are integrating BNPL services into their platforms, enhancing accessibility for consumers. However, as the market matures, increased competition and regulatory scrutiny are anticipated, necessitating a balance between innovation and compliance. Strategic partnerships between BNPL providers and retailers are expected to further enhance market penetration, while regulatory changes aim to ensure responsible lending practices and consumer protection.
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