Indonesia and South Korea have taken a significant leap forward in digital financial integration. Bank Indonesia and the Bank of Korea officially launched a cross-border QR-based payment system, enabling Indonesian citizens to make transactions in South Korea using QRIS through domestic apps, with payments settled directly in the local currencies of both countries, eliminating the need for currency conversion.
The launch forms part of a Joint Vision Statement signed by Indonesian President Prabowo Subianto and South Korean President Lee Jae Myung on April 1 in South Korea. Bank Indonesia Governor Perry Warjiyo described the initiative as a critical step toward creating an integrated, efficient, and inclusive payment system as the foundation for digital economic connectivity between the two nations.
Bank of Korea Deputy Governor Chang Cheong-soo echoed this view, stating the initiative reflects the growing cooperation between the two countries in strengthening digital finance and economic integration, with both central banks committed to further integrating payment systems and supporting closer digital economic connectivity.
QRIS has already proven to be a powerful driver of digital payment transformation in Indonesia, reaching 60.77 million users as of February 2026. Cross-border QRIS performance with existing partners has also been strong: Malaysia alone recorded 10.66 million transactions worth Rp 2.75 trillion, while Thailand recorded 1.64 million transactions worth Rp 656.27 billion since its launch in 2022.
Governor Warjiyo emphasized that cross-border QR payment connectivity not only facilitates transactions but also strengthens SMEs, boosts tourism, and opens new opportunities for businesses, supporting inclusive and sustainable economic growth. For millions of Indonesian travelers, students, and entrepreneurs engaging with South Korea, paying in the digital era just got a whole lot simpler.
