Hana Bank unit GLN expands payment network to 1 5 million merchants
Hana Bank subsidiary GLN expanded its Korean merchant acceptance network to 1 5 million locations after integrating with the Seoul Pay network
SEOUL, South Korea - Hana Bank's GLN unit has expanded its QR payment acceptance network in Korea from roughly 1 million to 1.5 million merchants by integrating with the Seoul Pay network, according to a press release dated August 10, 2026. This partnership with Coocon allows GLN to access approximately 500,000 Merchant Presented Mode (MPM) QR merchants, complementing the 1 million Customer Presented Mode (CPM) QR merchants already in place.
The expanded network enables international visitors to make QR payments using their home country's banking or fintech apps, eliminating the need for currency exchange or carrying physical payment cards. Transaction data from GLN indicates a significant increase in QR payment usage by inbound international travelers, with transaction volume and value growing by approximately 1,000% during the first half of 2026 compared to the second half of 2025.
The company began expanding its nationwide QR payment network in late 2025 by launching Hana Card QR merchants and integrating with payment terminals from Toss and Naver Pay, adding another 1 million QR payment merchants. This expansion has accelerated QR payment adoption among international visitors, especially in emerging commercial areas such as Seongsu, not limited to traditional shopping districts like Myeong-dong.
Popular retail brands and merchants visited by international travelers, including Shinsegae Duty Free and convenience stores, have seen increased QR payment usage. GLN's services are not confined to Seoul, with significant growth in spending among international visitors in major tourism destinations like Busan and Jeju, driven by the growth in beauty and medical tourism.
Looking ahead, GLN plans to expand QR payment services to over 10 countries by 2027, including the United States, Canada, Singapore, Vietnam, Mongolia, Japan, and Indonesia, while continuing to grow its QR payment merchant network in key tourist destinations. GLN CEO Lee Suk emphasized the company's commitment to providing international travelers with a seamless payment experience and supporting the growth of local businesses and Korea's tourism industry.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
