Emart24 Introduces Digital ATM Supporting Foreign Currency Exchange and City Tax Refunds

Emart24 announced on the 6th that it will introduce digital ATMs that allow foreign tourists to exchange foreign currency, receive in-city tax refunds, and send overseas remittances all in one place to enhance convenience for foreign visitors.

A foreign customer is using the digital ATM installed at Emart24 Samcheong-dong branch.
[Photo by Emart24]

The digital ATMs will first be installed at two locations: Myeongdong Jungang-ro Branch and Samcheong-dong Branch, with plans to expand to other stores frequently visited by foreign tourists.

The currency exchange service is provided with a daily limit of up to 2,000 USD per person (based on US dollars) and handles a total of 16 currencies including US dollars, Japanese yen, European euros, and Chinese yuan. Exchange rates are applied in real-time based on the rate on the day of the transaction. To use the currency exchange service, customers must bring identification such as a resident registration card, passport, or driver’s license.

The in-city tax refund service is the first of its kind in the industry. While foreign tourists previously had to receive tax refunds at the airport after purchasing goods at domestic duty-free shops, they can now receive immediate domestic tax refunds in the city for products purchased at Global Tax Free (GTF) duty-free stores using the digital ATM.

Emart24 expects that as the number of foreign tourists increases, those visiting stores to use the digital ATM will also purchase food products, daily necessities, SIM chips, and more, which will help boost franchise store sales.

Additionally, Emart24 is enhancing convenience for foreigners by introducing a ‘VAT refund service’ in line with the increasing number of foreign tourists visiting Korea. The immediate VAT refund service allows foreign visitors to pay for products at Emart24 stores at a VAT-deducted price by having store staff scan the customer’s passport. The payment amount eligible for this service ranges from 30,000 KRW to less than 500,000 KRW.

Moreover, to further accommodate foreign tourists, Emart24 operates various payment methods including Alipay, Alipay Plus, WeChat Pay, UnionPay, and Apple Pay, and has introduced easy payment services such as Visa, MasterCard, Amex, and JCB, which have received great responses.

Lee Jong-wan, head of the Emart24 Service Platform Team, said, “This digital ATM features two-step identity verification, allowing for future service expansions such as cryptocurrency ATMs and token securities (STO) trading.” He added, “We plan to continue expanding various convenience services for both domestic and foreign customers while developing differentiated services that enhance customer satisfaction and benefits.”