SEOUL, Sept. 24 (Korea Bizwire) — Close to 900 automated teller machines (ATMs) were removed from service in Seoul alone last year. While ATMs are disappear across the country, the rate of decrease differed by region.
Rep. Youn Kwan-suk of the ruling Democratic Party said that, according to reports he received from the Bank of Korea, there were a total of 117,623 ATMs in the country last year, down by 1,769 since 2019 (119,392).
Seoul showed the highest rate of decrease with 896 machines removed, followed by Busan (417 machines), and Gyeonggi Province (179 machines).
While the overall number of ATMs has dropped, certain types of ATMs run by value added network (VAN) companies which manages credit card readers and store slips have increased.
In Gyeonggi Province, the number of VAN-run ATMs increased by 136 last year, followed by Daegu (41) and South Gyeongsang Province (28).
If VAN companies continue to operate ATMs without proper coordination with financial institutions, a problem of oversupply or undersupply may occur in certain regions, Youn said.
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