PayPal launches Xoom in South Korea

From now on Xoom customers in North America and 32 European markets can directly send money to South Korean bank accounts.

The news comes as PayPal’s international money transfer system is now opening in the Asian country. By using the service, sending the money means they will be available on Kookmin Bank, Woori Bank, and Shinhan Bank accounts within minutes.

“At Xoom, we are constantly innovating to provide the best possible money transfer service to families spread across the globe,” said Julian King, vice president and general manager at Xoom. “We are delighted to offer South Korean foreign residents all the benefits of our service – speed, convenience and competitive rates. When they use Xoom, they no longer have to wait in line, fill out forms or pay higher fees to send money back home.”

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