Singapore-based fintech Airwallex has acquired South Korea’s payment processor Paynuri, giving the company a strong entry into the South Korean market.
With this deal, Airwallex gains a payment gateway, prepaid electronic payment licences, and a foreign exchange business registration in South Korea.
These licences let Airwallex operate in South Korea directly, without using third-party intermediaries. The company plans to launch global business accounts and payment services for South Korean businesses in 2026.
“Following this initial roll-out, we plan to release successive products, including our AI-powered spend management tools in Korea,” said Arnold Chan, general manager, Asia-Pacific, Airwallex.
Airwallex aims to serve the growing demand for Korean entertainment and consumer goods, a market expected to reach US$198 billion by 2030.
Airwallex plans to use its global payment infrastructure to stand out from local competitors that focus only on domestic customers. This move also allows the company’s existing international customers to access South Korea more easily.
“This will help such businesses gain customers in Korea while also unlocking their cross-border growth across Asia-Pacific. As an example, Asean markets form South Korea’s second-largest trading partner collectively,” said Chan.
Airwallex plans to hire 20 employees in South Korea by the end of 2026.
This expansion comes after a Series G funding round that valued the company at US$8 billion. Airwallex now operates in over 200 countries and regions and serves more than 200,000 customers.
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