The number of smartphone users in South Korea has surpassed 50 million.

According to the Korea Association for ICT Promotion Friday, 50-point-11 million people were registered smartphone users as of July, up 160-thousand from the previous month.

Considering that the country's population was tallied at 51-point-eight million last month, it basically means every person in South Korea carries a smartphone. 

Since Samsung's Omnia 2 and Apple's iPhone 3GS were released in the South Korean market in late 2009, the number of smartphone users sharply increased from 22-point-58 million in 2011 to 40-point-seven million in 2014.

While smartphones are considered to have been a new growth engine that helped the country's financial and retail industries further expand, the number of new smartphone users hit a 19-month low in June, suggesting the market may be saturated.