Ahn Dogul Calls for Introduction of Financial Authentication System for Foreign Tourists

Ahn Dogul, a member of the Democratic Party of Korea (representing Gwangju Dongnam-eul), held a forum at 10 a.m. on December 10 at the National Assembly Members’ Office Building titled “Forum on Improving Payment Convenience for Transportation and Online Shopping for Foreign Visitors to Boost Tourism Revenue and Cross-Border E-Commerce.”

Ahn Dogul, Member of the National Assembly. Photo by Ahn Dogul's Office

The forum focused on two main agendas: removing entry barriers for foreigners in e-commerce, and introducing open-loop systems to improve tourism convenience. Professor Seo Jiyong of Sangmyung University and Patrick Storey, President of Visa Korea, delivered keynote presentations.

In his opening remarks, Ahn Dogul stated, “The number of foreign tourists in the first half of this year increased to 8.83 million, but the average spending per tourist actually decreased from 1,255 dollars in 2019 to 1,012 dollars. Despite growing global interest in K-content and K-brands, this has not translated into actual consumption.”

He further noted, “The structural closedness of payment and authentication systems is acting as a constraint,” adding, “To expand tourism revenue and boost cross-border e-commerce, I will do my utmost to provide legal and institutional support for introducing an authentication system suited to Korea’s circumstances.”

Professor Seo Jiyong explained, “Last year, cross-border direct purchases by Korean consumers reached 8 trillion won and continued to grow, but cross-border sales to foreigners amounted to only 1.7 trillion won, just 20% of the direct purchase volume.”

He added, “Barriers such as identity verification, payment approval rejections, and mobile compatibility make it difficult for foreigners to purchase Korean goods. We must lower these barriers by establishing foreigner authentication guidelines and investing in NFC payment infrastructure to promote tourism consumption and small business exports.”

Patrick Storey pointed out, “Foreign tourists visiting Korea face the inconvenience of having to purchase new transportation cards to use public transit. The system should be improved by introducing open-loop solutions so that foreigners can use their existing cards without hassle.”

Today’s forum featured panelists from government agencies, academia, and industry, who discussed a wide range of opinions. The discussion reached a consensus on the need to improve payment and authentication systems to enhance the convenience of spending by foreign tourists in Korea.

This content was produced with the assistance of AI translation services.