The number of bank branches in South Korea fell for the sixth consecutive year in 2024 as more customers opted for mobile and online banking, data from the Bank of Korea showed. As of September, banks operated 5,849 branches domestically and overseas, down 53 from a year earlier. The decline has continued since 2018. Full-year data for 2024 is yet to be released. Banks are closing branches to cut costs amid rising digital transactions. In response, authorities introduced guidelines to manage closures and minimize customer disruption while urging banks to improve service accessibility.