UnionPay International Partners with Korean Fintech Firm GLN to Launch UnionPay QR Code Payment Service

On November 11, UnionPay International and South Korean fintech company GLN jointly announced the official launch of UnionPay QR code payment services on GLN’s own app and its partner digital wallets. Larry Wang, CEO of UnionPay International, and Lee Suk, President of GLN, attended the cooperation agreement signing ceremony. This collaboration will further enhance the global service capabilities of major South Korean wallets, delivering a more convenient and secure cross-border mobile payment experience to South Korean citizens.

South Korean users can now make seamless QR code payments at UnionPay’s global QR code network spanning 47 countries and regions, and at Wexin (WeChat) QR code-acquiring merchants in Chinese mainland via the GLN APP as well as its partner digital wallets and mobile banking apps including Toss, Hana Bank, Hana Money, and Hana Card. UnionPay and GLN are rolling out a launch promotion: users will enjoy an instant 10% discount on transactions of RMB 100 or more made through these channels in China, further reducing the cost of cross-border spending.

Larry Wang said that this year marks the 20th anniversary of UnionPay’s operations in South Korea, and this first-time partnership with GLN is a milestone. Leveraging its global network and technological strengths, UnionPay will help GLN expand its cross-border payment reach, ensuring South Korean citizens enjoy the same convenient payment experience overseas as they do domestically. This collaboration also represents a tangible step toward building an efficient and inclusive cross-border payment ecosystem, which will further facilitate people-to-people and economic exchanges between China and South Korea.

Lee Suk, CEO of GLN, stated that as a subsidiary of Hana Bank, GLN is South Korea’s sole global payment and remittance network company, offering comprehensive cross-border financial services such as QR code payments, ATM cash withdrawals, and overseas remittances. He added that GLN is fully prepared to serve South Korean travelers users make safe and seamless payments in China, via the GLN app and partner platforms including Toss, Hana 1Q, and Hana Card—eliminating the need for cash or currency exchange. The launch promotion’s instant discount is designed to ease the burden of cross-border purchases and encourage more users to experience the convenience of mobile payments.

Since China introduced its visa-free policy for South Korean citizens in November 2024, travel demand from South Korea to China has surged. From January to August 2024, nearly 1.99 million South Korean tourists visited China, a year-on-year increase of 40.6%. This collaboration not only signifies a key milestone in UnionPay’s two decades of deep market cultivation in South Korea but also responds positively to the warming China-South Korea exchanges. Currently, all major South Korean banks have issued UnionPay cards, with cumulative issuance exceeding tens of millions, and over 10 South Korean wallets support UnionPay’s cross-border QR code payments. UnionPay is increasingly becoming the preferred payment brand for South Koreans’ cross-border transactions.

https://www.unionpayintl.com/en/mediaCenter/newsCenter/marketUpdate/3016280.shtml