BOK, Indonesia to cooperate on cross-border payments

The Bank of Korea (BoK) announced on Monday that it signed a memorandum of understanding (MOU) with Bank Indonesia (BI) for the bilateral cooperation of cross-border payments.

Rhee Chang Yong, the governor of the BoK, and Perry Warjiyo, the governor of BI signed this MOU. 

The MOU aims to accelerate closer cooperation on the interoperability of cross-border
payments.

BOK and BI also seek to establish a framework to facilitate cross-border
payment connectivity between the two countries.

BOK explained that this cooperation will enhance the economies of both countries, particularly in the tourism sector.

By Jin-gyu Kang

josep@hankyung.cm