Bank of Korea Representative: Georgia Is the First European Country and the First Beyond the Asian Region in Middle Corridor Cooperation

The National Bank of Georgia hosted an expert delegation from the Bank of Korea and the Korea Financial Telecommunications & Clearings Institute (KFTC). The visit aimed to discuss and summarize the outcomes of the project “Development of the Cashless Payment System in Georgia.”

The cooperation agreement between the National Bank of Georgia and the Bank of Korea for the implementation of this project was signed in 2025.

The project seeks to promote the further development of cashless payments in Georgia. It focuses on assessing the existing payment environment, identifying the main barriers to the adoption of cashless payments, and sharing Korea’s best practices and policy experience in promoting digital payments.

Within the framework of the project, practical recommendations for the regulatory framework were developed, aimed at advancing modern payment infrastructure and ensuring the broader dissemination of cashless payments.

“This project enables us not only to assess the current cashless payment infrastructure, but also to acquire concrete and practical tools for its further development. Importantly, this cooperation benefits not only Georgia, but the wider region as well, as it allows us to jointly strengthen financial infrastructure, which is a cornerstone of sustainable economic development,” said Natia Turnava, Governor of the National Bank of Georgia.

She also emphasized the strategic importance of the Georgia–Korea partnership, particularly the opportunities this project creates for strengthening the cashless payment system, introducing financial technologies, and developing coordinated practices across the region.

According to Wonjong Roh, a representative of the Bank of Korea, Georgia and Korea share many similarities, and the exchange of experience is important for both sides.

“Georgia is the first European country and the first country beyond the Asian region with which we cooperate in the context of the Middle Corridor. This cooperation allows us to further expand our partnership in the future,” said Wonjong Roh, Head of Educational Projects at the Bank of Korea.

Over the past two years, the National Bank of Georgia has been actively cooperating with the Bank of Korea and financial sector regulatory authorities.

The meeting was attended by Ekaterine Galdava, Vice Governor of the National Bank of Georgia, along with representatives of various departments.