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BOK calls for active response to declining cash acceptance

Published: 19 Nov. 2025, 14:49

The Bank of Korea's main branch in Jung District, central Seoul, on Aug. 12 [YONHAP]

The central bank on Wednesday called for measures to ensure the continued circulation of cash amid declining acceptance on public transportation, in stores and by other entities.

The call was made during a meeting of the currency circulation system council, which was attended by the Bank of Korea (BOK) and other relevant organizations.

"An increasing number of buses, stores and even local government-affiliated institutions began restricting cash payments recently. The industry is also experiencing changes, with some cash transportation firms and non-bank ATM operators suspending operations," BOK official Kim Gi-won said.

"Proactive measures are needed to preserve the cash circulation infrastructure," he added.

Participants also discussed how demographic shifts and digital transformation are reshaping the cash-use ecosystem.

They voiced concerns that bank branches and ATMs in noncapital regions could shrink rapidly as the population continues to concentrate in the Seoul metropolitan area.

The BOK vowed to strengthen information sharing and cooperation among related institutions to devise necessary policy measures and to ensure a sustainable cash circulation infrastructure.

Yonhap