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Fintech Airwallex Buys South Korea’s Paynuri in Asia Expansion

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Australia-founded fintech Airwallex has acquired South Korea’s Paynuri, securing key local licences that will allow it to operate directly in the country as it accelerates expansion across Asia.

Airwallex said the deal grants it Paynuri’s Payment Gateway and Prepaid Electronic Payment Instrument licences, along with a Foreign Exchange Business registration. Financial terms were not disclosed. Co-founder and president Lucy Liu said the acquisition removes reliance on third-party intermediaries and enables direct operations in South Korea.

The company plans to launch global business accounts and payment acquiring services in South Korea in 2026, followed later by spend-management products. Airwallex also aims to build a local team of about 20 staff by the end of 2026 across sales, compliance, and product support.

The move follows a December funding round that valued Airwallex at $8 billion, around 30% higher than its previous valuation. General manager for Asia-Pacific Arnold Chan said South Korea’s fast-growing ecommerce and entertainment sectors offer strong opportunities for Korean businesses expanding overseas.

Airwallex reported $1.2 billion in annualised revenue and $266 billion in annualised transaction volume in December, underscoring its rapid global growth.

South Korea Postpones Decision on Google’s Map Data Export Request

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South Korea has once again delayed its decision on Google’s request to export detailed map data, saying it will wait until the company provides additional documentation required for review, the Ministry of Land, Infrastructure and Transport announced on Tuesday.

The ministry’s National Geographic Information Institute (NGII) has given Google 60 business days — until February 5, 2026 — to submit the necessary materials before a final ruling is made.

The request involves Google’s plan to transfer 1:5,000-scale map data — equivalent to 50 meters per centimeter — to servers outside the country. Google says this level of detail is necessary for accurate navigation services, comparable to those offered by domestic firms Kakao Corp and Naver.

South Korea previously rejected similar requests from Google in 2007 and 2016, citing national security concerns about storing sensitive geographical data overseas.

In September, Google said it would comply with South Korea’s security requirements, including ensuring that coordinate data for locations within the country are not displayed to users inside or outside South Korea and agreeing to blur images of security-sensitive facilities.

However, the ministry stated that Google has not yet submitted an updated application reflecting these commitments. The inconsistencies between the company’s previous statements and its formal submissions have complicated the review process.

The dispute comes as Seoul and Washington continue talks on trade and security agreements, adding geopolitical weight to the outcome of Google’s mapping request.

Samsung Electronics Appoints New Head of Key Business Support Office

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Samsung Electronics has appointed HK Park as the new head of its Business Support Office, the company’s central decision-making body that serves as a key coordination hub for chairman Jay Y. Lee and Samsung Group’s vast network of affiliates.

The unit, recently upgraded from a task force into a full-fledged office, functions as a strategic control tower across South Korea’s largest conglomerate, whose businesses span semiconductors, smartphones, shipbuilding, and pharmaceuticals.

Park, a former chief financial officer (CFO) at Samsung Electronics, joined the Business Support Task Force a year ago before being promoted to lead it. His appointment marks the first major leadership reshuffle since the office’s formation, following Samsung’s 2017 decision to dissolve its previous corporate nerve center after it became embroiled in a high-profile graft scandal.

Park replaces Chung Hyun-ho, who will now serve as an advisor to Chairman Jay Y. Lee. According to Samsung, Vice Chairman Chung, 65, “expressed his intention to step down from management to focus on nurturing future leaders, as Samsung’s business has been back on track.”

The company also said it has no plans to expand personnel at the Business Support Office at this time.

The leadership change underscores Samsung’s efforts to streamline its internal governance while maintaining close coordination across its many divisions — from memory chips and displays to consumer electronics — at a time of intense global competition and rapid AI-driven transformation.