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S. Korea to Adopt New Online Payment System
Source: english.yonhapnews.co.kr
Source Date: Monday, July 28, 2014
Focus: Citizen Engagement
Country: Korea (Republic of)
Created: Aug 05, 2014

The South Korean government said Monday that it will introduce alternative online payment systems to offer foreign shoppers easier, simpler access to local shopping malls as part of its deregulation drive to boost the economy.

The financial authorities removed the authentication system that limited foreign shoppers from making direct purchases and caused inconveniences in May, but many shops and stores are still using the process for payments of more than 300,000 won (US$293), citing security concerns.

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