Korea Simple Payment Network Signs ZeroPay Business Agreement with Busan Tourism Organization and Busan Economic Promotion Agency

Payments at Tourist Attractions and Neighborhood Shopping Districts
Available via 71 Apps from 21 Countries through ZeroPay

The Korea Simple Payment Network announced on May 19 that it has signed a business agreement with the Busan Tourism Organization and the Busan Economic Promotion Agency to enhance payment convenience for foreign tourists visiting Busan.

Officials from the Korea Simple Payment Promotion Agency, Busan Tourism Organization, and Busan Economic Promotion Agency signed a business agreement to enhance payment convenience for tourists at the Busan Tourism Organization on the 19th and took a commemorative photo. From the left, Song Bokcheol, President of Busan Economic Promotion Agency; Kwon Daesu, Chairman of Korea Simple Payment Promotion Agency; Lee Jungshil, President of Busan Tourism Organization. Photo by Hangyeolwon

The agreement aims to create a global payment environment that allows foreign tourists visiting Busan to make payments more conveniently, and to increase tourism revenue for small business owners and neighborhood commercial districts.

Last year, the number of foreign tourists visiting Busan reached 3.64 million, setting an all-time record. This year, demand for Busan tourism is surging, with over 1 million visitors in just the first quarter.

Recently, foreign visitors to Korea are coming to Busan for individual travel, road shops, and experience-based activities. This indicates that there is growing demand for global payment infrastructure not only at tourist attractions, but also in local neighborhood commercial districts.

According to the Korea Simple Payment Network, ZeroPay is linked with 71 payment applications across 21 countries, including China, Japan, and Taiwan. It enables foreigners to conveniently make payments at domestic merchants using the same apps they use in their home countries.

Of the 18.94 million tourists who visited Korea last year, 77% (15.43 million) were from countries where ZeroPay is integrated.

The Korea Simple Payment Network explained that since 97% of all affiliated merchants are small business owners, consumption by foreign tourists through ZeroPay can establish a virtuous cycle that increases revenue for traditional markets and neighborhood shopping districts.

Going forward, the three organizations plan to jointly expand the ZeroPay infrastructure, particularly in Busan’s major tourist destinations and neighborhood commercial areas, and to carry out promotional activities to boost the use of overseas payment solutions.

Daesu Kwon, Chairman of the Korea Simple Payment Network, stated, "We will enhance payment convenience for foreign visitors to Busan and contribute to raising Busan’s status as a global tourism city. In particular, we will strive to ensure that no small business owner in Busan is left out and that all can benefit from tourism revenue."

The Korea Simple Payment Network is a non-profit foundation exclusively operating the ZeroPay business, established in September 2019. ZeroPay is a mobile simple payment service introduced through cooperation among the government, local governments, and financial institutions to reduce payment processing fees for small business owners by leveraging fintech technology.

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