China`s leading mobile payment service along with Alipay,, Wechat, has been exploited as an illegal foreign exchange transaction, a so-called `short-term` means. If China`s "euker" is getting more trouble in the midst of a recent Cold War between China and Southeast Asia, it is likely that the wicked crime through We chat pay will become more prominent.

The Seoul Metropolitan Police Agency reported that illegal foreign exchange transactions using Chinese payment settlement cards are expanding, mainly by Chinese students on November 8.

A police representative said, "The number of cases in which Chinese people use Wichetpei as a purgatory is increasing recently," he said. "As the number of Chinese tourists increase, crime is likely to increase."

We Chat Pay is a simple payment service based on `We Chat`, a mobile messenger used by more than 500 million Chinese people. It can be freely used in both on-line and off-line spaces that are affiliated with merchants in China as well as in China.

They have illegally shunned the game by purchasing expensive game items in Wechat and then returning them to the yuan as the payment amount. Particularly, it is revealed that if Chinese people buy a yuan through a broker, they will use the method of transferring Chinese won into a foreign currency account again. In other words, if you deposit the yuan in China, you can transfer it to the account in China.

In general, exchanges of currencies are carried out at banks and foreign exchange banks that have been registered with the foreign exchange business, and the currency exchange through Wechat is an illegal foreign exchange transaction between the Yuan and the won. The broker is in the middle of it and connects the other party and receives a lower commission than the bank or currency exchange.

Recently, these illegal foreign exchange transactions are rapidly spreading among Chinese students, and it is pointed out that if Chinese tourists who were stopped by the THAAD conflict are resumed in South Korea, the crime of cheating will be further increased. In particular, the number of franchisees that can pay through We Chat in Korea is continuously increasing, which also increases the possibility that We Chat will be abused as a refuge.

Meanwhile, We Chat Pay is expanding the number of franchisees available in Korea by cooperating with domestic financial companies, Hana Card and Woori Bank. Hana Card currently has about 300 offline merchants such as Shilla Duty-free shops and hotels, and Woori Bank is helping to use We Chat Pay at over 12,000 online and offline merchants including Lotte Duty Free.


By Cho Eun Guk ceg4204@


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