The National Bank of Georgia hosted a delegation from the Bank of Korea and the Korea Financial Telecommunications & Clearings Institute to discuss and summarise the outcomes of the project “Development of the Cashless Payment System in Georgia”, implemented under a cooperation agreement signed in 2025. The work produced practical recommendations for Georgia’s regulatory framework intended to support modern payment infrastructure and broader adoption of cashless payments. The project assessed the existing payment environment, identified key barriers to cashless uptake, and drew on Korea’s best practices and policy experience in promoting digital payments. Bank of Korea representatives noted that Georgia is the first European country and the first outside the Asian region to cooperate with the Bank of Korea in the context of the Middle Corridor, with the meeting attended by the National Bank of Georgia’s vice governor and relevant departments. The Bank of Korea indicated the cooperation provides a basis for expanding the partnership in future.
National Bank of Georgia 2026-01-28
National Bank of Georgia reviews cashless payments development project with Bank of Korea and sets out regulatory recommendations
The National Bank of Georgia and the Bank of Korea, along with the Korea Financial Telecommunications & Clearings Institute, concluded a project on developing Georgia's cashless payment system, offering recommendations to enhance its regulatory framework and payment infrastructure. This collaboration marks Georgia as the first European nation to partner with the Bank of Korea in the Middle Corridor initiative.