The State Bank of Vietnam published a readout of Governor Pham Duc An’s meeting with Korea's Financial Services Commission (FSC) Chairman Eog-Weon Lee, where the two authorities agreed to coordinate the implementation of a project to connect retail payments via QR codes between the two countries. The project is aimed at supporting retail payments for areas such as tourism and facilitating the use of local currencies in cross-border retail transactions. The discussions also covered broader supervisory and market cooperation. The State Bank of Vietnam encouraged Korean banks to continue channeling funding not only to Korean enterprises but also to Vietnamese businesses, noting a need for longer-term capital, and indicated interest in expanding cooperation through workshops, delegation exchanges and training. The FSC side expressed willingness to share Korea’s experience in areas including debt handling, risk management and payment-system development.
State Bank of Vietnam 2026-04-24
State Bank of Vietnam and Korea's Financial Services Commission agree to advance QR code retail payment linkage
The State Bank of Vietnam and Korea’s Financial Services Commission agreed to coordinate a project to connect cross-border retail payments via QR codes, aimed at supporting tourism and facilitating the use of local currencies in transactions. They also discussed broader supervisory and market cooperation, with Vietnam encouraging Korean banks to provide more long-term funding to Vietnamese businesses and both sides expressing interest in expanded knowledge sharing on debt handling, risk management and payment systems.