KB Kookmin Bank, Cambodian Central Bank to build payment system

South Korea's KB Kookmin Bank announced on Friday that it signed a memorandum of understanding (MOU) with the National Bank of Cambodia to establish inter-country QR code-based payment system. 

This MOU was one of the key events of the South Korea-Cambodia Economic Cooperation Forum. This event was held at the Korean Chamber of Commerce and Industry in Jung-gu, Seoul, the previous day.

The signing ceremony was attended by Prime Minister Hun Manet, Korean Minister of Trade, Industry and Energy Ahn Duk-geun, Governor of the National Bank of Cambodia Chea Serey and President of KB Kookmin Bank Lee Jae-keun.

Under the agreement, KB Kookmin Bank plans to collaborate with the National Bank of Cambodia in the financial sector and contribute to the payment markets in both countries by establishing a QR code-based payment system.

Write to Bo-Hyung Kim at kph21c@hankyung.com