Indonesia and South Korea Launch Cross-Border QRIS Payments to Boost Trade, Tourism, and Digital Connectivity
Indonesia and South Korea have launched a pioneering cross-border QR payments system aimed at supercharging bilateral trade and tourism.
Indonesian users can now make seamless payments in South Korea using domestic QRIS apps, bypassing currency conversion with settlements in local currencies for greater efficiency.
Strengthening Economic Ties Through Presidential Vision
The rollout follows a Joint Vision Statement signed by Indonesian President Prabowo Subianto and South Korean President Lee Jae Myung on April 1, 2026, during a high-level meeting.
Bank Indonesia Governor Perry Warjiyo stated that this payment connectivity not only eases transactions but also empowers SMEs, enhances tourism, and unlocks sustainable business opportunities.
Bank of Korea Deputy Governor Chang Cheong-soo affirmed commitment to deeper integration of payment systems for robust digital economic links between the nations.
QRIS Expansion and Proven Cross-Border Success
Domestically, QRIS has exploded to 60.77 million users in Indonesia by February 2026, solidifying its role in advancing economic sovereignty through digital payments.
Indonesia's prior QR partnerships with Thailand, Malaysia, Singapore, and Japan have generated millions of transactions totaling trillions of rupiah, demonstrating strong demand.
Impacts on Tourism and Future Growth
In 2025, Indonesia saw 5.89 million inbound tourist transactions compared to 1.68 million outbound, signaling potential for balanced growth via this new corridor.
Both central banks pledge ongoing collaboration to build secure, reliable payment infrastructures supporting financial resilience and inclusive development.
This initiative heralds a new era of interoperable digital payments in Asia, fostering greater trade volumes and people-to-people exchanges.
By streamlining cross-border transactions, the system positions Indonesia and South Korea as leaders in regional fintech innovation.
