#South Korea #Seoul #QR Payment #GLN #Seoul Pay

Enhancing Payment Accessibility for Travelers in Korea

GLN International, a subsidiary of Hana Bank, has recently announced an expansion of its QR code payment network in South Korea, catering specifically to international travelers. This significant initiative comes on the heels of a partnership with Coocon, which has added approximately 500,000 merchants to its existing network, bringing the total count to a staggering 1.5 million. This development not only enhances the convenience of payments for tourists but also represents a substantial growth in GLN's capabilities within the South Korean market.

The QR code payment system, designed to facilitate quick and efficient transactions, has seen an unprecedented increase in usage among foreign tourists. Recent data indicates a remarkable surge in both volume and value of QR transactions, soaring by nearly 1000% in the first half of 2026 compared to the previous six months. This rising trend is reflective of the growing acceptance and adoption of mobile technologies in the retail sector across various locales beyond the well-trodden areas such as Myeong-dong.

Expanding Beyond Myeong-dong

The expansion of GLN's payment network underscores the shifting dynamics of consumer behavior in Seoul's commercial landscape. Areas that were once less frequented by tourists, such as Seongsu, are now witnessing an increased flow of international customers. The integration of QR payment solutions in diverse retail environments—ranging from popular fashion retailers like Musinsa to unique spots like Daelim Warehouse—illustrates a significant transformation in how tourists are choosing to spend their money while visiting South Korea.

To facilitate this seamless spending, GLN has aligned its services to accommodate visitors from multiple countries including the USA, Canada, Singapore, Vietnam, and Mongolia, all set to access convenient payment solutions later this year. This strategic move aims to not just target specific demographics but to also enhance the overall tourist experience in the vibrant market of South Korea.

A Unified Payment Experience

The Seoul Pay service, as part of GLN’s initiative, is fundamentally a unified payment platform aimed at lowering transaction costs for small businesses. By allowing various national and international payment services to operate via a single standardized QR code, it creates a congenial environment for both merchants and consumers. This not only simplifies the payment process but also provides tourists with the opportunity to utilize their home banking applications, enriching their travel experience without the hassle of currency conversion or physical payment cards.

As the network grows, the impact on local businesses and the tourism industry in South Korea becomes more pronounced. As noted by CEO Lee Suk, the expansion of the QR code payment network serves dual purposes: facilitating easier payment methods for international visitors while simultaneously fostering growth in local enterprises. The enhanced accessibility to making purchases is expected to drive up sales for retailers in key tourist hotspots—not just in Seoul, but also in popular tourist destinations like Busan and Jeju, where demand for medical and aesthetic tourism has surged.

Future Aspirations

Looking ahead, GLN has ambitious plans to continue extending its QR payment services across more than ten countries by 2027, further amplifying its merchant network within key tourist areas. GLN is committed to refining its offerings to ensure that every international traveler has access to convenient, hassle-free payment options throughout South Korea.

In summary, GLN’s substantial expansion of its QR code payment network represents a crucial step in enhancing the retail experience for international tourists, while simultaneously offering essential support for local businesses. As GLN aims to be a leader in QR code payment solutions in Asia, their efforts are poised to bring significant benefits to both consumers and merchants alike, making South Korea an even more attractive destination for travelers worldwide.