S. Korea, India to launch cross-border QR code-based payment system this year: FSC chief

▲ Lee Eog-weon (4th from L, front row), chairman of the Financial Services Commission (FSC), poses for a photo during a forum in New Delhi, India, on April 20, 2026, in this photo captured from Lee's X social media post. (PHOTO NOT FOR SALE) (Yonhap)

S Korea-India-QR payment

S. Korea, India to launch cross-border QR code-based payment system this year: FSC chief

SEOUL, April 22 (Yonhap) -- South 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 with exchanging currencies by 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, South Korea and Indonesia launched a separate QR code-based payment system between the countries.

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