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South Korea Buy Now Pay Later Business and Investment Opportunities Databook 2024-2029: BNPL Payments Forecast to Grow from $12.42 Billion in 2023 to Reach $24.62 Billion by 2029

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DUBLIN, Feb. 15, 2024 /PRNewswire/ — The “South Korea Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.

BNPL payments in South Korea are expected to grow by 17.3% on an annual basis to reach US$14.56 billion in 2024. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 11.1% during 2024-2029. The BNPL gross merchandise value in South Korea will increase from US$12.42 billion in 2023 to reach US$24.62 billion by 2029.

The BNPL payment industry in South Korea has recorded strong growth over the last four quarters, supported by increased e-commerce penetration.

This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.

It breaks down market opportunities by type of business model, sales channels (offline and online), and distribution models. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

Report Scope

This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in South Korea through 55 tables and 71 charts. Below is a summary of key market segments:

South Korea BNPL Market Size and Spending Pattern, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later Revenue Analysis, 2020-2029

Buy Now Pay Later RevenuesBuy Now Pay Later Share by Revenue SegmentsBuy Now Pay Later Revenue by Merchant CommissionBuy Now Pay Later Revenue by Missed Payment Fee RevenueBuy Now Pay Later Revenue by Pay Now & Other Income

South Korea Buy Now Pay Later Operational KPIs & Statistics, 2020-2029

Buy Now Pay Later Active Consumer BaseBuy Now Pay Later Bad Debt

South Korea BNPL by Purpose, 2020-2029

Convenience – Short Term LoansCredit – Long Term Loans

South Korea BNPL by Business Model, 2020-2029

Two-Party (BNPL offered by retailers)Three-Party BNPL Offering

South Korea BNPL by Merchant Ecosystem, 2020-2029

Open Loop SystemClosed Loop System

South Korea BNPL by Distribution Model Analysis, 2020-2029

StandaloneBanks & Payment Service ProvidersMarketplaces

South Korea Buy Now Pay Later Market Share Analysis by Key Players

South Korea BNPL Analysis by Channel, 2020-2029

Online ChannelPOS Channel

South Korea Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later in Others: Market Size and Forecast

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

South Korea Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

Sales Uplift by Product CategoryShare by Age GroupShare by IncomeShare by GenderAdoption RationaleAverage Monthly Expense segments

Key Report Features:

Get a comprehensive understanding of market dynamics for Buy Now Pay Later: Identify market opportunities, major trends, and forecasting (2020-2029). Understand market trends through crucial KPIs like Gross Merchandise Value, Volume, and Average Value per Transaction, to stay ahead of the curve.Insights by end-use sectors: Evaluate new opportunities across multiple end-use sectors, and obtain market dynamics by end-use sectors in order to swiftly catch up with the latest and upcoming developments in BNPL markets.Market-specific strategies: Identify growth segments focused on specific opportunities, and analysing market-specific risks and important trends in the BNPL sector with our exclusive blend of quantitative forecasting and innovative insights.Gain knowledge of consumer attitudes and actions: This report identifies and interprets important Buy Now Pay Later KPIs, such as spend by age, gender, and income level, using data from a proprietary survey.Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of BNPL market spend and major opportunities in South Korea.

For more information about this report visit https://www.researchandmarkets.com/r/cpa532

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets

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Travelport Releases Second Annual State of Modern Retailing Report: ‘Travel’s Tipping Point’

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New proprietary research from Travelport, combined with cross-industry insights, highlights key trends that will transform the travel industry in 2025

LANGLEY, United Kingdom, Jan. 15, 2025 /PRNewswire/ — Travelport, a global technology company that powers travel bookings for hundreds of thousands of travel agencies and suppliers worldwide, today unveiled its 2025 State of Modern Retailing Report. This report, combining new proprietary research and cross-industry insights, outlines critical trends reshaping the travel industry in 2025, including heightened demand for transparency, the emergence of new subscription models, and AI-driven advancements in the travel retail experience.

“Consumers are clear about what they want from the travel industry: simplicity, transparency, and trust,” said Jen Catto, Chief Marketing and Product Officer at Travelport. “Our latest research shows that travel has reached a tipping point. Modern retailers who embrace radical transparency, adopt AI responsibly, and deliver streamlined experiences will thrive in this evolving landscape.”

Five Key Trends to Watch in 2025:

Consumer-washing ends; Radical transparency begins
Travel companies face growing criticism for “consumer washing,” a practice where businesses advertise deceptively low prices, hiding fees or conditions until checkout. Nearly half (44%) of surveyed consumers ranked airlines, hotels, and travel companies as major offenders, second only to credit card companies (45%).

Modern retailing requires honesty at every stage of the customer journey. Brands that eliminate hidden fees and agencies that present clear, comparable options across suppliers will earn customer loyalty. Radical transparency is not just a necessity—it’s a competitive advantage.

Disruptors Delivering Simplicity Will Outpace the Laggards
Fintech disruptors have reshaped banking, with 47% of consumers agreeing they’ve made personal finances easier to manage. However, the travel industry lags behind. Over half of consumers (56%) report that airline offers have become more confusing over the past decade.

To match fintech’s success, travel brands must embrace agile, API-led technology that enables seamless integration of new content, data, and features. Those who simplify the shopping experience will stand out in a crowded market.

Distribution Partnerships Drive Consumer Growth
The overwhelming number of content options across industries has led to choice overload. In streaming services, for example, 56% of consumers feel overwhelmed by the amount of content available on traditional and streaming channels, and 75% would prefer one bundled subscription.

Travel is no different. Forward-thinking companies are forming unconventional partnerships to meet consumers where they shop. For example, low-cost carriers (LCCs) are opening up their content to travel retailers, recognizing that a multi-channel approach simplifies the consumer experience while driving loyalty.

Travel Subscriptions Gain Traction
Travelers are increasingly turning to subscriptions. Online travel agencies (OTAs) like eDreams ODIGEO have demonstrated the potential of this approach, boasting more than 6.5 million Prime subscribers. Its subscription model is currently the company’s largest contributor of revenues and margins.

1 in 3 consumers (35%) surveyed said that they would consider a travel subscription in 2025, highlighting that this business model is primed for growth. Benefits such as convenience, cost savings, and exclusive perks make subscriptions a compelling alternative to traditional loyalty programs.

AI Raises the Bar for Travel Retailing
AI adoption is accelerating, with 58% of people using AI in their personal or professional lives. Travel ranks in top three industries for AI trust, with 42% of consumers trusting travel brands to use AI responsibly. In fact, 80% of frequent travelers already feel comfortable using AI for trip planning.

AI-driven tools will revolutionize travel retailing in 2025, from predicting travel behavior to curating personalized offers. For agencies, AI will simplify managing multi-source content and enable more effective customer service and upselling.

To read the full report or to learn more about Travelport, please visit Travelport.com/Trends-2025.

About Travelport
Travelport is a global technology company that powers bookings for hundreds of thousands of travel suppliers worldwide. Buyers and sellers of travel are connected by the company’s next generation marketplace, Travelport+, which simplifies how brands connect, upgrades how travel is sold, and enables modern digital retailing. Headquartered in the United Kingdom and operating in more than 165 countries around the world, Travelport is focused on driving innovation that simplifies the complex travel ecosystem.

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HONGQI Showcases Flagship Electric Vehicles at the Brussels Motor Show 2025

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BRUSSELS, Jan. 15, 2025 /PRNewswire/ — HONGQI, the benchmark of China’s luxury automotive industry, proudly unveils its flagship electric vehicle lineup at the Brussels Motor Show 2025, held from January 10 to 19 at the Brussels Expo. The event gathers leading automotive brands from around the globe, offering a platform to showcase cutting-edge technologies and sustainable innovation. HONGQI’s E-HS9, EH7, and EHS7 take centre stage, highlighting the brand’s excellence in design, performance, and forward-looking technology.

The E-HS9, a full-size smart electric SUV, embodies spaciousness and refinement. Its dual-motor all-wheel-drive system and high-performance battery deliver exceptional power and stability. The cabin, designed with premium materials, ensures both comfort and elegance, making it a perfect choice for executives and families alike.

The EH7 is designed to meet the expectations of discerning customers in the premium upper mid-sized electric sedan. With a WLTP range of 655 km, it excels in delivering long-distance comfort. Its powerful drivetrain, producing 455 kW and 756 Nm of torque, enables acceleration from 0 to 100 km/h in just 3.5 seconds, offering an exhilarating driving experience while maintaining efficiency. For those who value a combination of high performance and extended range, the EH7 is an irresistible choice.

The EHS7 is a premium upper mid-sized electric SUV that offers powerful driving performance and smooth handling. Its advanced braking system achieves a stopping distance of just 36 meters from 100 km/h, ensuring precise control and safety. As the only vehicle in its class equipped with rear-wheel steering, the EHS7 delivers exceptional agility and handling. Equipped with IPX8 waterproof battery safety features, it guarantees stable performance across various environments. With ultra-fast charging capabilities and outstanding manoeuvrability, the EHS7 is the ideal choice for drivers who prioritise practicality and superior driving dynamics.

In 2024, HONGQI captivated audiences with appearances at the Goodwood Festival of Speed, Automechanika Frankfurt, and the Paris Motor Show. Each event highlighted the unique features of the E-HS9, EH7, and EHS7, demonstrating HONGQI’s global commitment to luxury EV innovation.

The HONGQI booth at the Brussels Motor Show 2025 offers visitors a unique opportunity to experience the flagship models E-HS9, EH7, and EHS7 up close. Attendees can explore these models firsthand, discovering HONGQI’s dedication to luxury design, new energy innovation, and cutting-edge technology. The exhibit highlights the HONGQI’s continuous efforts to advance electric mobility and enhance premium driving experiences on a global scale.

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Start the New Year Right: Corra Group Highlights the Importance of Background Checks as Businesses Start the New Year Strong

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Background Checks Are Essential for Organizations Seeking to Build Trusted Teams and Create Safe Work Environments.

EL SEGUNDO, Calif., Jan. 15, 2025 /PRNewswire/ — The start of the new year is peak season for hiring, and businesses are gearing up to tackle early-year demands for a thriving 2025. Corra Group, a nationwide provider of background checks and drug testing, highlights the critical role of background screening at the start of the new year.

“January and February are typically active months for hiring, as companies bring on new employees to drive business growth and address early-year needs,” said Nick Gustavson, Corra Group Cofounder. “Background checks not only protect a company’s reputation and provide a safe work environment, but also foster a culture of safety, compliance, and reliability for teams and customers.”

According to the U.S. Bureau of Labor, the U.S. economy added over 350,000 jobs last January, significantly surpassing forecasts. Failing to perform comprehensive background checks can lead to increased risk and turnover, costing companies time and resources. Corra Group’s streamlined background check services help companies hire with confidence, starting the year with safe, dependable, and qualified teams.

Background checks are especially important for New Year hiring, particularly after the holiday season. It is easy to move too quickly as the new year ramps up, and the post-holiday season is a great opportunity for employers to utilize background checks to reduce turnover costs, transition temporary holiday hires into permanent roles, and stay safe while expanding.

“January also typically brings the launch of hiring initiatives, restructuring, and expansion,” adds Gustavson. “This results in increased hiring and a need for integrity, professionalism, culture fit, and alignment with company values in new or expanded roles.”

2025 is also seeing many companies implementing stricter full-time Return To Office (RTO) mandates, a trend already underway at major organizations like Amazon, JPMorgan, Disney, Google, Boeing, and Apple. With employees transitioning from remote work to working full-time side by side in physical office spaces, businesses need to prioritize safety, trust, and a secure work environment. Corra Group offers a number of background check services including Criminal Checks, Nationwide Registered Sex Offender Search, Drug Testing & Alcohol ScreeningMotor Vehicle Records, Employment Verification and Social Media Background Screening.

“We hope everyone starts the new year right,” said Gustavson. “Stay safe and compliant, and we wish everyone a Happy New Year!”

About Corra Group:

Corra Group is a full-service background screening company that provides background checks and employment screening to clients throughout the United States and around the world. With over 20 years of experience, Corra Group’s goal is to help clients make informed decisions and provide a first-class candidate experience during the hiring process. It is also one of the few companies that will answer the phone. Corra Group is headquartered in El Segundo, California. To learn more, visit CorraGroup.com

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SOURCE Corra Group

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