What Role Does South Korea Play in Airwallex’s Strategy?

Airwallex has announced its acquisition of Paynuri Co. Ltd. which marks a significant strategic entry into the South Korean financial services market.

The acquisition provides the global financial platform with essential local regulatory credentials including Payment Gateway and Prepaid Electronic Payment Instrument licences alongside a Foreign Exchange Business registration.

By securing these licences Airwallex aims to facilitate cross-border expansion for Korean enterprises while assisting international businesses in navigating the domestic economy.

The initial phase of the rollout will focus on global business accounts and payment acquiring with a broader suite of services scheduled for release throughout 2026.

Airwallex's expansion strategy into the Asian market follows a successful Series G funding round that valued the company at US$8bn.

This valuation represents an approximate 30% increase from its previous financing round as the company continues to reinvest capital into licensed infrastructure across key global jurisdictions.

Airwallex recently expanded its operational footprint in the European market through a series of significant capital investments.

Airwallex is also expanding its presence in Europe by investing approximately US$234m in the Netherlands to increase its regional headcount.

The firm is also targeting the expansion of its product line to cover AI-powered spend tools and recurring billing software as part of this regional growth.

Integrating these capabilities allows the company to handle complex FX requirements and local collection methods which are critical for businesses operating in high-growth sectors.

Strategic significance of the Korean market

South Korea represents a vital node in the global digital economy particularly as the demand for Korean entertainment and consumer goods continues to rise.

Projections suggest the market for these exports could reach US$198bn by 2030 driven by the sustained global influence of the 'K-wave'.

Arnold Chan, General Manager, APAC at Airwallex, says: “This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform.

“Korea’s fast-growing ecommerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders.”

Arnold also notes that the creative and entertainment sectors are specifically poised to benefit from more efficient financial tools when operating internationally.

The acquisition adds South Korea to an APAC portfolio that already includes Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam.

In 2025 the company reported an 85% year-on-year increase in revenue within the APAC region while transaction volumes grew by 71% over the same period.

Local collaboration and economic impact

The move has been welcomed by local investment authorities who view the entry of global fintech players as a catalyst for digital transformation.

Lee Jihyung, President & CEO of Invest Seoul, says: “We are excited by this significant investment by Airwallex into the Korean market.

“We believe Airwallex’s entry will strengthen the financial operating environment for both Korean and global companies in the market.

“Invest Seoul will continue to collaborate closely with Airwallex to accelerate the digital transformation journey for Korean businesses, and to support more global companies in entering Seoul and operating their businesses successfully.”

To support this local growth Airwallex intends to scale its domestic operations by hiring across multiple functions throughout 2026.

The firm expects to establish a dedicated team of at least 20 employees in Korea by the end of next year to manage the new licensed entities.

On a global scale the company reached US$1.2bn in annualised revenue and US$260bn in annualised transaction volume in 2025.