Along with growing economic and business relationships between China and South Korea, China UnionPay’s business in Korea is developing rapidly. Recently, China UnionPay announced that the UnionPay card-accepting merchants and ATMs in Korea have exceeded 10,000 and reached 11,000 respectively. Chinese tourists, businessmen and overseas students in South Korea will enjoy more convenient payment services.
 

On January 10, 2005, China UnionPay officially opened UnionPay cards’ acceptance business in Korea. More than 3 years’ development had lead to a rocketing China UnionPay card-based transaction volume. The data show that, from January to July this year, the transaction amount via China UnionPay cards totaled 140 million Yuan in South Korea, more than twice the amount for the same period last year. Moreover, the average daily transaction amount in July exceeded 100 million Korean won (about 770,000 Yuan).
 

Currently China UnionPay card acceptance network in Korea has covered most areas frequented by Chinese people such as duty-free stores and tourist group purchase stores. There is also a "China UnionPay card barrier-free zone" in Seoul's Incheon International Airport and Jeju Island Road Central Trade Circle. UnionPay cards are much welcomed in duty-free stores and wholesale stores, and applying for accepting UnionPay cards has become a must for newly opening stores. In addition, Korea's well-known shopping malls, such as the New World Department Store, Doosan Tower, SK Telecom mobile phone rental services also accept UnionPay cards.
 

The amount of UnionPay card accepting outlets are increasing significantly, meanwhile, many South Korean merchants also launch various types of promotion activities to attract more Chinese tourists using UnionPay cards. Now, duty-free shops like Seoul Walker Hill, SK Telecom mobile phone rental services, ETUDE HOUSE cosmetics store all have UnionPay card discount and gift send-out programs, moreover, China UnionPay card payment in Jeju Island can also get gifts, discounts and opportunities of lucky draw, etc.
 

An officer of China UnionPay stated that this year China UnionPay plans to further expand the acceptance scope of China UnionPay cards in Korea. In addition to Seoul, Incheon, Jeju, Busan, Gyeongju and other cities frequented by Chinese will have their major merchants signing to accept UnionPay cards in large scale. In the future, it will be more convenient for Chinese tourists to use UnionPay cards in South Korea.
 
Alongside the rapid POS business development in South Korea, ATM acceptance business is also making its presence across the whole South Korea with its proportion as high as 80% among all foreign card-accepting ATMs. Currently in South Korea's major airports, subway stations, convenience stores, most ATM machines accept UnionPay cards, and this is the case even in some remote rural areas. It is known that for the convenience of Chinese tourists, UnionPay card accepting ATM machines all have the UnionPay logo posted, and have a Chinese interface installed. From January to July this year, the transaction amount via China UnionPay cards in South Korea ATMs reached almost 70 million Yuan.  

Statistics show that more and more Chinese are visiting South Korea; in 2007 the total number of Chinese tourists to Korea exceeded 1 million. China UnionPay official said that China UnionPay card acceptance in South Korea on the one hand conforms to the trend of close exchanges between both countries; on the other hand it strengthens the friendship between both countries as well. China UnionPay card holders may feel the considerateness and convenience; moreover they may also save about 1% to 2% currency conversion fees compared to other channels.

Card using tips in South Korea:

l        All "China UnionPay" logo- bearing merchants accept UnionPay cards; however some merchants may not have posted the logo, cardholders are encouraged to show the cards and inquire whether they can be accepted. 

l        No handling fee when paying abroad. With UnionPay network, currency conversion is done automatically: RMB is deducted from your account, and you may pay with RMB later; no currency fluctuation risk; and 1% to 2% currency conversion fee can be saved compared to other bank card networks.

l        All ATMs with "China UnionPay" logos accept UnionPay cards, besides Citigroup (Citi Bank) ATMs also accept UnionPay cards. You may withdraw cash by inserting or swiping cards, select China UnionPay cards (abbr. CUP) on the screen, which will bring you into Chinese language interface (no Chinese language interface installed in Citibank ATMs so far);

l        A single UnionPay debit card has a daily withdrawal limit of 10,000 Yuan equivalent; an individual UnionPay credit card has a daily cumulative cash withdrawal limit of 5,000 Yuan equivalent. As credit card cash withdrawal incurs overdraft interest, UnionPay debit cards are recommended for overseas withdrawals;

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l        In 2008, China UnionPay card holders can enjoy discounts when booking rooms in the Westin Chosun Hotel in Seoul. Reserve by phone 800-810-3688 in China;

l        In consideration of the mobile communication of Chinese tourist in South Korea, China UnionPay and South Korea SK Telecom jointly launch mobile phone rental service in Seoul Incheon International Airport, Gimpo Airport in Busan, and Cheju airport, targeting Chinese tourists. The mobile phones have Chinese interface and receive calls for free; Before September 30, mobile phone rental fees can be avoided if with both UnionPay card deposit and the coupon. Coupons can be obtained by calling UnionPay hotline 95516;
  

If you need help regarding UnionPay card use in South Korea, call UnionPay service hotline 95516 in China, or call hotline 0079-814-800-7159 in South Korea.