South Korea’s BC Card, KT Corporation’s subsidiary, has signed an agreement with Uzbekistan’s National Interbank Processing Center (NIPC) to connect the card payment networks of the two countries. The deal, finalized on August 23 in Tashkent, is designed to streamline financial transactions for Uzbek nationals living in South Korea.
Under the agreement, Uzbek citizens will be able to withdraw cash from ATMs in South Korea using NIPC-branded cards without the need for currency exchange or remittance services. This is expected to significantly ease financial management for Uzbek workers and students in South Korea.
In addition to benefiting Uzbek nationals, BC Card customers in South Korea will gain the ability to make payments at merchants across Uzbekistan using their domestic-only cards. NIPC, which operates the HUMO card brand and processes payments for 32 banks in Uzbekistan, will play a key role in developing the necessary infrastructure for this cross-border collaboration.
This partnership marks a step forward in enhancing financial connectivity between South Korea and Uzbekistan, offering more convenience to users of both payment networks.
