KB Kookmin Bank and National Bank of Cambodia Establish QR-Based Payment System

On the 16th, at the Korea Chamber of Commerce and Industry located in Jung-gu, Seoul, Chia Serei, Governor of the National Bank of Cambodia (front row, left), and Lee Jae-geun, President of KB Kookmin Bank (front row, right), are taking a commemorative photo at the "Business Agreement Ceremony for the Establishment and Operation of an Intercountry QR Code-Based Payment System."

KB Kookmin Bank announced on the 17th that it has signed a business agreement with the National Bank of Cambodia to establish and operate an inter-country QR code-based payment system.

This business agreement was arranged as one of the main events of the Korea-Cambodia Economic Cooperation Forum held to commemorate the visit of Cambodian Prime Minister Hun Manet to Korea. The signing ceremony, held the previous day at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, was attended by Cambodian Prime Minister Hun Manet, Minister of Trade, Industry and Energy An Deok-geun, Governor of the National Bank of Cambodia Chea Serey, and KB Kookmin Bank President Lee Jae-geun, among others.

Going forward, KB Kookmin Bank plans to strengthen mutual cooperation with the National Bank of Cambodia in the financial sector and contribute to the expansion of the payment markets in both countries through the establishment of a QR code-based payment system.

A KB Kookmin Bank official stated, "With the establishment of a QR code-based payment system between the two countries, payments using each country's mobile banking platform will be possible without separate currency exchange, greatly enhancing convenience for tourists and workers visiting both countries," adding, "KB Prasac Bank, a Cambodian subsidiary, will play a key role in this."