S. Korea, Indonesia launch cross-border QR code-based payment system | Yonhap News Agency

## Summary
OK SEOUL, April 1 (Yonhap) -- Travelers between South Korea and Indonesia can now make payments without exchanging currencies using a QR code-based payment system, Seoul's central bank said Wednesday. The cross-border QR payment service became available at stores in both countries from the day, as the Bank of Korea (BOK) and Bank Indonesia established a local currency transaction (LCT) framework after signing a memorandum of understanding (MOU) in July 2024, according to the BOK. "The system is expected to reduce foreign exchange and transaction fee burdens, thereby facilitating bilateral exchanges and cooperation across a wide range of sectors, including trade, tourism and consumption," the BOK said in a statement. Korea-Indonesia partnership for KF-21 fighter jets as 'model' defense cooperation Non-physical card payments rise over 7 pct in 2025: BOK Keywords #QR payment Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S. Korea, Indonesia launch cross-border QR code-based payment system Next S.

## Article Content
Facebook
X
More
Pinterest
Linked in
Tumblr
Reddit
Facebook Messenger
Copy URL
URL is copied.
OK
SEOUL, April 1 (Yonhap) -- Travelers between South Korea and Indonesia can now make payments without exchanging currencies using a QR code-based payment system, Seoul's central bank said Wednesday.
The cross-border QR payment service became available at stores in both countries from the day, as the Bank of Korea (BOK) and Bank Indonesia established a local currency transaction (LCT) framework after signing a memorandum of understanding (MOU) in July 2024, according to the BOK.
"The system is expected to reduce foreign exchange and transaction fee burdens, thereby facilitating bilateral exchanges and cooperation across a wide range of sectors, including trade, tourism and consumption," the BOK said in a statement.
The central bank plans to expand the service to online payment platforms in the future and aims to extend the QR-based payment system to other members of the Association of Southeast Asian Nations.
Bank of Korea (BOK) Gov. Rhee Chang-yong (R) and his Indonesian counterpart, Perry Warjiyo, pose for a photo during a signing ceremony for the renewal of the South Korea-Indonesia currency swap arrangement in Seoul on Feb. 5, 2026, in this photo provided by the BOK. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)
Related Articles
(LEAD) Lee, Indonesia's Prabowo hold summit talks with eye on defense cooperation
Lee hails S. Korea-Indonesia partnership for KF-21 fighter jets as 'model' defense cooperation
Non-physical card payments rise over 7 pct in 2025: BOK
Keywords
#QR payment
Articles with issue keywords
Most Liked
(2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma
Paik Kun-woo, at 80, says 'Music chose me'
(Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot
(News Focus) Han Kang's NBCC win again spotlights art of translation
(LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang'
Most Saved
(2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma
(News Focus) Han Kang's NBCC win again spotlights art of translation
Paik Kun-woo, at 80, says 'Music chose me'
(Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot
Liberal ex-prime minister to declare mayoral bid in conservative stronghold
Most Viewed
All Categories
(LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.
Korean Air to enter emergency management mode over soaring fuel costs
S. Korea to remove 'China (Taiwan)' label from e-arrival system after Taiwan's protest
(LEAD) Lee urges bold measures to cope with concerns about energy situation, including emergency economic decree if needed
(News Focus) With 'Arirang,' BTS proves endurance beyond long break
Most Viewed More
Most Viewed Photos
Tass news agency's delegation in Pyongyang
Indonesian president visits S. Korea
Tass news agency's delegation in Pyongyang
Tass news agency's delegation in Pyongyang
prev
S. Korea, Indonesia launch cross-border QR code-based payment system
Next
S. Korea, Indonesia launch cross-border QR code-based payment system

---

## Expert Analysis

### Merits
N/A

### Areas for Consideration
- Korea-Indonesia partnership for KF-21 fighter jets as 'model' defense cooperation Non-physical card payments rise over 7 pct in 2025: BOK Keywords #QR payment Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.

### Implications
- The central bank plans to expand the service to online payment platforms in the future and aims to extend the QR-based payment system to other members of the Association of Southeast Asian Nations.
- Rhee Chang-yong (R) and his Indonesian counterpart, Perry Warjiyo, pose for a photo during a signing ceremony for the renewal of the South Korea-Indonesia currency swap arrangement in Seoul on Feb. 5, 2026, in this photo provided by the BOK. (PHOTO NOT FOR SALE) (Yonhap) graceoh@yna.co.kr (END) Related Articles (LEAD) Lee, Indonesia's Prabowo hold summit talks with eye on defense cooperation Lee hails S.
- Korea-Indonesia partnership for KF-21 fighter jets as 'model' defense cooperation Non-physical card payments rise over 7 pct in 2025: BOK Keywords #QR payment Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.
- Korea to remove 'China (Taiwan)' label from e-arrival system after Taiwan's protest (LEAD) Lee urges bold measures to cope with concerns about energy situation, including emergency economic decree if needed (News Focus) With 'Arirang,' BTS proves endurance beyond long break Most Viewed More Most Viewed Photos Tass news agency's delegation in Pyongyang Indonesian president visits S.

### Expert Commentary
This article covers korea, indonesia, payment topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 495.