South Korea's banks plan to close 170 branches by March due to growing mobile banking use.

South Korea's four major banks plan to close 170 more physical branches by March, reducing their total to 3,160, due to increased demand for mobile banking. The trend towards fewer offline branches is unlikely to reverse as internet-only banks become more popular. Despite a rise in interest income, critics worry that the reduction may inconvenience elderly customers who prefer in-person banking.

2 months ago
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