K-CASH is an electronic money

Electronic money

Electronic money is money or scrip that is only exchanged electronically. Typically, this involves the use of computer networks, the internet and digital stored value systems...

 system established by 'Korea Financial Telecommunication and Clearings Institute'.

K-CASH card is easily obtained from issuing bank. Several banks are issuing K-CASH card, including two credit card companies as of 2011. Users can load or unload value from their own account at bank counter, store, ATMs and online. Unlike other market dominant "transport cards", unloading K-CASH value to owner's account is done real-time, as a law only permits real-time transaction to electronic money, not to prepaid card.

South Korean Army

Republic of Korea Army

The Republic of Korea Army is the largest of the military branches of the South Korean armed forces with 520,000 members as of 2010...

, and Kaesong Industrial Zone adopt K-CASH as a major payment system. At first, K-CASH was mainly promoted as electronic fare collection system. Despite its advantage, such as bank guarantees its payment or real-time transaction, market dominant systems like T-money

T-Money

T-money is a rechargeable series of cards and other "smart" devices used for paying transportation fares in and around Seoul and other areas of South Korea. T-money can also be used in lieu of cash or credit cards in some convenience stores and other businesses...

 or Mybi

Mybi

The Mybi card is a kind of contactless smartcard used in South Korea. This system was introduced in 2000 as a new fare collection system for the Busan area.-Areas:Mybi is now used in many areas....

 system drive it out of the market. As of November 2011, following cities and railroad systems are using K-CASH as their public transport fare collecting system.

• Andong
• AREX
  AREX
  AREX, spelled A'REX as a brand name, is a South Korean railway line that links Seoul with Gimpo Airport and Incheon International Airport. The section between the two airports opened on March 23, 2007, the extension to Seoul Station opened December 29, 2010...
  
  
• Chuncheon
• Hoengseong
• Pohang
• Seogwipo
• Wonju

Card issuers

• Citibank Korea
  Citibank Korea
  Citibank Korea is a South Korean subsidiary of Citigroup. It was founded as KorAm Bank in 1983, and Citibank acquired and merged it with its Seoul branch in 2003...
  
  
• Daegu Bank : Andong, Pohang
• Hana Bank : Chuncheon, Wonju
• Industrial Bank of Korea
• Kookmin Card
• KEB
  Korea Exchange Bank
  Korea Exchange Bank is a specialized foreign exchange bank in South Korea. It is headquartered in Seoul, and was established in 1967.Korea Exchange Bank is the fifth largest bank in South Korea measured in assets and the largest foreign exchange bank in South Korea, providing the largest range of...
  
  
• Samsung Card
  Samsung Card
  Samsung Card Co, Ltd. is Korea's biggest credit card company. Headquartered in Seoul, Korea, the Samsung Card merged with Samsung Capital in 2005. The company is owned by Samsung Electronics and Samsung Life Insurance . Samsung Card was established in 1988 as a technical and business company...
  
   (discontinued)
• SC First Bank
  SC First Bank
  SC First Bank is a bank headquartered in Seoul, South Korea. It was created by the acquisition of the former Korea First Bank by Standard Chartered Bank in 2005.-External links:*...
  
   : Chuncheon, Gimhae, Wonju
• Shinhan Bank
  Shinhan Bank
  Shinhan Bank , is a bank, headquartered in Seoul, Korea. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. It is part of the Shinhan Financial Group, along with Jeju Bank...
  
   : all branches
• Shinhan Card
  Shinhan Card
  Shinhan Card Co. Ltd. is Korea's biggest, global top-five credit card company. Headquartered in Seoul, Korea, the company has a partnership with Shinhan Capital, and is an affiliate of Shinhan Financial Group. Shinhan Card was established in 1990 as a technical and business company licenced by...
  
  
• Woori Bank
  Woori Bank
  Woori Bank is a bank headquartered in Seoul, Korea. The bank changed its name in 2002, and includes the former Commercial Bank of Korea, Hanil Bank, and Peace Bank. It was known from 1999 through 2002 as Hanvit Bank...
  
  : all branches, including Kaesong Industrial Zone

External links

• Korean Official homepage
• English KFTC homepage