Foreign travelers walk through the arrival terminal at Incheon International Airport, May 1. Yonhap
Woori Bank said Wednesday that it has begun issuing a prepaid card tailored for foreign tourists at Incheon International Airport, as the bank looks to expand services for Korea’s growing inbound tourism market.
The NOL World Card, launched in partnership with travel platform Nol Universe and fintech firm Kona I, is designed to allow foreign visitors to exchange currency, make payments and withdraw cash immediately upon arrival in Korea.
The rollout at Incheon airport marks the first on-site distribution of the card since the three companies signed a business agreement in March to develop financial services targeting foreign travelers, Woori said.
The prepaid card, which offers preferential exchange rates for tourists, also allows them to reload or withdraw funds through multiple channels, including the bank’s branches, ATMs, unmanned exchange machines and kiosks operated by partner companies nationwide.
The bank said the card service was aimed at improving financial accessibility for short-term foreign visitors, who often face high exchange fees or payment limitations when using overseas cards here.
The card also offers promotional benefits tied to major Korean retail and lifestyle brands popular among foreign tourists, including Olive Young, fashion platform Musinsa and convenience store chain GS25.
As part of a launch promotion, customers who exchange more than 300,000 won ($200) through the service will receive a welcome kit from Musinsa.
“The launch of the NOL World Card is part of our broader effort to expand financial services for foreign visitors,” said Kim Ko-woon, deputy general manager at Woori Bank’s foreign exchange business division.
“We will continue to expand partnerships and upgrade functions to improve financial convenience for foreign customers and enhance their overall travel experience in Korea.”
Korean banks have increasingly expanded services for foreign tourists in recent years amid a sharp rebound in inbound tourism. According to government data, the number of foreign visitors to the country reached 4.76 million in the January-March period, up 23 percent from a year earlier.