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GS25 to install currency exchange kiosks amid rising foreign tourism

Published: 05 Mar. 2025, 14:19 Updated: 05 Mar. 2025, 17:06

WOO JI-WON
[email protected]

A customer uses GS25's currency exchange kiosk. [GS25]

GS25 will install currency exchange kiosks to accommodate the rising number of foreign visitors to Korea, its parent company GS Retail said Wednesday.

The machines, available 24 hours a day, will provide money exchange services for 15 currencies, including the dollar, yen, euro and the Chinese currency, the renminbi.

The machines can be installed both inside and outside GS25 stores, enhancing customer convenience and accessibility, GS Retail said.

Users can also obtain and charge a prepaid card through the machine, with the deposited amount automatically converted into won.

With the number of foreign visitors rising in recent years — reaching 16.47 million last year, a 48.4 percent increase from the previous year, according to the Korea Tourism Organization — GS Retail said the use of GS25’s financial services by foreign customers has also grown significantly.

The number of customers using GS25’s foreign exchange service increased 18 times last year compared to 2023, while usage of its tax refund service surged 935 percent over the same period.

Purchases made using foreign payment methods such as Alipay and WeChat Pay rose 126.7 percent last year compared to 2023, with the GS25 New Anyoung Insadong branch recording the highest sales through foreign payment methods.

BY WOO JI-WON [[email protected]]