Jeju, South Korea – Jeju Island is set to launch a new QR code payment system for its local currency, "Tamnaneunjeon," in March, aiming to attract both domestic and international tourists. The initiative, a collaboration between the Jeju government and NICE Information & Telecommunication, the operating agent of Tamnaneunjeon, will integrate with the widely used Zero Pay system.

This new system is designed to enhance the convenience of mobile payments, particularly for the MZ generation and foreign visitors. By consolidating various payment services into a single QR kit, consumers can easily access Tamnaneunjeon payments through its dedicated app, Zero Pay transactions via 28 domestic bank apps, and international payments through 21 apps from 11 countries.

The rollout will begin in March with 13,953 Tamnaneunjeon merchants already affiliated with Zero Pay, and will eventually expand to over 43,577 Tamnaneunjeon merchants.

The Jeju government is actively promoting QR code payments to alleviate the burden of transaction fees for small business owners and to enable consumers to make payments easily with their smartphones. To this end, the government plans to hold briefings through the Jeju Island Merchants Association and to launch special promotions for both domestic and international consumers.

Kim Mi-young, head of Jeju's Economic Vitality Bureau, stated, "The Tamnaneunjeon QR payment system is the first of its kind in the country, where a local currency operating agent and Zero Pay have collaborated to expand mobile payment services. With compatibility across 49 domestic and international mobile payment apps, and with the addition of special promotions, we expect to stimulate local spending and revitalize the regional economy."

This initiative marks a significant step towards a more seamless and accessible payment experience for both residents and visitors of Jeju Island.