Korea, India to launch cross-border QR code-based payment system this year: FSC chief
Published: 22 Apr. 2026, 17:40
![Financial Services Commission Chairman Lee Eog-weon speaks at a meeting between industry and financial sector officials on steel-related industries in Jongno District, central Seoul, on April 17. [YONHAP]](https://koreaseafood.online/data/photo/2026/04/22/de591ee5-fa34-4dc5-9b12-42c7dcbe645b.jpg)
Financial Services Commission Chairman Lee Eog-weon speaks at a meeting between industry and financial sector officials on steel-related industries in Jongno District, central Seoul, on April 17. [YONHAP]
Korea and India plan to launch a QR code-based cross-border payment system this year, Seoul's chief financial regulator said Wednesday.
In a post on social media platform X earlier in the day, Lee Eog-weon, chairman of the Financial Services Commission (FSC), said citizens from both countries will be able to make payments and exchange currencies using the envisioned service.
He is now accompanying President Lee Jae Myung, who is on a trip to Vietnam for summit talks after visiting India earlier this week.
The FSC chief said the QR-code payment system will reduce commission fees sharply.
Earlier this month, Korea and Indonesia launched a separate QR code-based payment system between the countries.
Yonhap
with the Korea JoongAng Daily
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