Is South Korea Allowing Foreigners to Use Credit Cards for Public Transit?
Synopsis
Key Takeaways
Seoul, Dec 14 (NationPress) The South Korean government has initiated a review of a new system aimed at enabling foreign travelers to utilize public buses and subways using credit cards issued outside the country, officials announced on Sunday.
The Ministry of Land, Infrastructure, and Transport has recently embarked on a plan to commission a study focused on the implementation of an open-loop payment system for public transit. This initiative is set to commence this month and will continue until the end of next year, as reported by the Yonhap news agency.
The primary goal of the study is to facilitate foreign visitors in directly paying for public transport fares using their international credit cards. At present, tourists are required to buy and recharge transportation cards with cash or obtain prepaid cards specifically designed for foreigners, often leading to inconvenience.
Through this study, the ministry will estimate the financial resources necessary for launching the new system and identify who will be responsible for the associated costs.
With the influx of foreign visitors increasing by 15.2% year-on-year to reach 15.82 million from January to October, there is a growing demand for such improvements.
Many major global cities, such as New York and London, have already embraced systems enabling passengers to use their own credit cards for public transportation.
“Rolling out the system nationwide within a short timeframe would be challenging. Hence, the government is likely to pursue a gradual implementation in partnership with local authorities and public transportation providers,” an official remarked.
If the study results in a decision to move forward, the actual implementation could potentially begin as early as 2027.
Meanwhile, the number of foreigners and ethnic Koreans holding foreign citizenship residing in South Korea has reached a record high of 2.73 million, with one-third of this demographic being Chinese, according to government statistics.
As of the end of June, the count of registered foreigners in the nation stood at 1.56 million, while Koreans with foreign citizenship residing here amounted to 552,419, based on immigration data from the Ministry of Justice.
The number of foreigners on short-term visits, including tourists, was reported at 620,403.