According to Xu Luode, the CEO of China UnionPay (CUP), the CUP cards have become a convenient channel for trade and people exchange between China and Korea. At present, more than 10,000 companies accept CUP business; and more than 11,000 ATMs are located in Korea. From January to July this year, the sum of Chinese tourists dealing business with CUP cards reached 0.14 billion RMB, equal to that of all 2007.
In addition, in order to make it easier for those Koreans who are working, studying and living in China, Korea issued official UnionPay standard cards. This February, CUP, the Korean BC Card Co. and its 11 branches issued the UnionPay standard cards. By the end of August 18, more than 15,000 cards had been issued. From February to January this year, Koreans had spent 0.13 billion RMB with UnionPay cards in Korea, and 20 million RMB in China.
By People's Daily Online
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