{"content_id":"d1cgtue34d","slug":"ai-agent-payments-korea-2026-goat-square-tech-mou","locale":"en","schema_type":"Article","category":"ai_data","category_name":"AI Data","title":"AI Agent Payments in Korea: 2026 Commercial Use Criteria","summary":"The GOAT Network and Squaretech partnership is at the stage of exploring the use of AI agent payments in Korea. This examines differences in announcement dates alongside Korean law and explains the approvals, spending limits, and proof of merchants receiving payments needed for actual use.","sponsorship_disclosure":null,"affiliate_disclosure":null,"commerce_disclosure":null,"author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["The October 14, 2026 company name change disclosure confirms that RN2 Technologies changed its name to Squaretech.","The partnership was reported on October 20, but GOAT Network's original post currently displays October 22 as its date.","An MOU and an event demonstration alone cannot confirm that commercial payments are available at regular merchants.","Registering an agent's identity, obtaining user approval for payments, and enforcing spending limits are separate functions.","Whether the service can be used in practice should be judged by the supported assets and chains and the conditions for merchants to receive payments and issue refunds."],"content_markdown":"The stablecoin payment partnership between GOAT Network and Square Tech is at the stage of reviewing its application. Public announcements alone do not confirm that commercial payments are available at merchants in South Korea. Payment authorization by an AI agent must also be distinguished from the actual receipt of funds.\n\nThe dates and figures below are based on disclosures and announcements from October 2026.\n\n## Announcement Dates and the Company Name Change Disclosure\n\nThe October 14 company name change and the payment agreement announcement are separate events. The DART disclosure confirms the change in the company's name. It is not a disclosure announcing the launch of a payment service.\n\n| Item | What is confirmed | Limits on interpretation |\n| --- | --- | --- |\n| October 14, 2026 DART notice of company name change | Name changed from RN2 Technologies Co., Ltd. to Square Tech Co., Ltd. | Not evidence of a service launch or regulatory approval |\n| Extraordinary general meeting of shareholders on the same day | Approval of partial amendments to the articles of incorporation | Separate from the date corporate registration was completed or the stock name was updated on the exchange |\n| October 20, 2026 TokenPost report | Introduction of the MOU with GOAT Network and the proposed tourist payment program | This is the news report date, which differs from the date currently displayed on the company's original post |\n| Current GOAT Network original post | Displays October 22, 2026 as the publication date | Difficult to independently establish the initial publication date or revision history |\n| October 23, 2026 Byline Network article | The current article text reports that the agreement was signed on October 22 | A final cross-check of the signing date requires the original signed agreement |\n\nThe new English name in the [DART notice of company name change](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261014900497) is Square Tech Co., Ltd. The stock code is KOSDAQ 148250. The disclosure states that the reasons for the change are entry into new businesses and enhancement of corporate value.\n\nThe [October 20 report](https://www.tokenpost.kr/amp/news/cryptocurrency/424644) does exist. However, the date currently displayed on the [GOAT Network original post](https://www.goat.network/news/goat-network-partners-with-square-tech-on-ai-agent-payments-in-south-korea) is **October 22, 2026**. October 20 therefore cannot readily be used as the confirmed publication date of the company's original post.\n\n## Agreement Parties and the Mobile Passport Proposal\n\nGOAT Network and Square Tech are the central parties in this partnership. DAC Labs is described as a participant providing technical support. Lordsystem is identified separately as a co-developer of the tourist program.\n\n| Entity | Role described in public announcements | Points to distinguish |\n| --- | --- | --- |\n| Square Tech | Domestic business development, merchant partnerships, regulatory compliance | A company name change alone does not confer eligibility to operate a payment business |\n| GOAT Network | Provision of AI agent payment technology and a network | Plans to provide technology are separate from operating a service in South Korea |\n| DAC Labs | Technical integration, security reviews, and network operations support | Public descriptions alone make it difficult to establish each signing entity's contractual responsibilities |\n| Lordsystem | Joint development of a tourist program using mobile passports | Insufficient grounds to conclude that it is a direct signatory to this MOU |\n\nThe proposal involves paying with dollar stablecoins after mobile passport authentication. The parties are considering how to connect AI agent functions to this process. These roles and development stages are also described in the [report on the agreement](https://byline.network/2026/10/1023-10/).\n\nThe [Lordsystem company profile](https://www.lordsystem.co.kr/company.html) describes its history in the mobile passport business. That history does not prove that this payment program has launched. The scope of the existing identity verification service must be distinguished from that of the new payment functions.\n\n## How Do an MOU, a Demonstration, and Commercialization Differ?\n\nAn MOU is an agreement to cooperate, while the actual availability of payments is assessed through evidence of operation. The legal enforceability of an agreement depends on its individual provisions. Its title alone is not grounds to conclude that it creates no obligations.\n\n| Stage | Meaning | What is confirmed for this partnership | Evidence needed next |\n| --- | --- | --- | --- |\n| MOU and application review | Stage of defining the direction of cooperation and each party's role | Announcement of a review of application in South Korea | Specific service scope and responsible entities |\n| Demonstration and pilot testing | Stage of testing operation in a limited environment | According to GOAT's own announcement, 310 purchases over two days at its KBW 2026 booth | Test conditions, whether real funds were used, and receipt and refund records |\n| Commercial service launch | Stage at which specified users use the service under its terms | No launch date or terms of service could be confirmed in the announcements reviewed | Launch notice, operating terms, and customer support channels |\n| Actual merchant payments | A state in which order payments are processed normally at specific stores | No store-level evidence of acceptance or settlement could be confirmed for this program | Merchant list, order receipts, and receipt and settlement records |\n\nThe number of purchases at the event is a figure announced by the company. It is not independently verified commercial transaction volume in South Korea. Conversely, a lack of public evidence does not mean that no development activity has taken place.\n\n| Items not yet confirmed | Why they are needed for actual use |\n| --- | --- |\n| Launch date and tourist eligibility requirements | To determine whether registration and use are actually available |\n| Supported stablecoins and token addresses | To distinguish them from other assets with similar names |\n| Payment chain and operating environment | To distinguish test networks from networks where real funds move |\n| Participating merchants and compatible payment terminals | To confirm acceptance at a specific store |\n| Settlement structure in Korean won or coins | To confirm what merchants receive |\n| Fees, exchange rates, and refund conditions | To assess total costs and the amount returned upon cancellation |\n| Licensed or registered operators and their scope of work | To confirm who handles funds and under what authorization |\n\n“Not confirmed” in this table refers to the scope of the public documents reviewed. It is not a judgment on all stablecoin businesses in South Korea. Availability at a specific store must be checked with the relevant service operator.\n\n## How Do Prior Authorization and Spending Limits Work?\n\nIdentity verification is different from permission to make a payment. An agent's identification number cannot replace user authorization either. Moving real funds requires a defined scope of authorization and a mechanism to enforce it.\n\nThe [ERC-8004 technical document](https://eips.ethereum.org/EIPS/eip-8004) covers agent identity, reputation, and validation. The document reviewed has Draft status. It explicitly states that payments are outside the scope of the standard.\n\n### Example of a Tourist Ordering a Meal\n\nEven when an agent is asked to order a meal, payment conditions must be set separately. The following is a hypothetical scenario explaining the principle. It does not mean that these features have already been implemented in this program.\n\n1. Confirm the food to be ordered and the seller.\n2. Specify the asset and payment network to use.\n3. Check the order amount and any separate fees.\n4. Set the authorization validity period and permitted spending scope.\n5. The payment system checks the authorization conditions.\n6. After payment, cross-check the order receipt against the fund transfer record.\n\nThe [ERC-3009 technical document](https://eips.ethereum.org/EIPS/eip-3009) describes signed transfer authorizations. Authorization information includes the recipient address and amount. It also includes a validity period and a value that prevents reuse.\n\nA daily cumulative limit is separate from an individual transfer authorization. A mechanism is needed to add up spending across multiple orders. If you have only told the AI a limit in conversation, check whether that limit is actually enforced.\n\n| Situation | Required control |\n| --- | --- |\n| The price of an authorized order changes | Reauthorization of the changed amount |\n| The same order is submitted more than once | Duplicate prevention using the order number and authorization value |\n| Individual orders are small, but cumulative spending grows | Checks against cumulative limits for each period |\n| The authorization period ends | Blocking execution of expired permissions |\n| Delegation is revoked | Revocation of permissions before use and confirmation that it has taken effect |\n\nRevoking authorization is also separate from refunding a completed payment. Revocation stops permissions from being used in the future. Refunds for completed orders follow the seller's and payment operator's refund procedures.\n\n## USDC, Chains, and Evidence of Merchant Receipt\n\nThe phrase “dollar stablecoin” alone does not confirm support for USDC. USDC is one type of asset designed to track the value of the dollar. It is used here as an example to explain how payments work.\n\n[Circle's USDC address documentation](https://developers.circle.com/stablecoins/usdc-contract-addresses) lists asset addresses by chain. Assets with the same display name may differ in issuance type and network. The documentation explains that testnet USDC is not backed by real dollars.\n\n| Item to check | Plain meaning | What to verify |\n| --- | --- | --- |\n| Asset type | What is being sent | Issuer and exact token address |\n| Chain | Which payment network is used | A network supported by both the seller and the wallet |\n| Issuance type | Whether it is a directly issued asset or a representation used for transfers | The difference between native USDC and bridged assets |\n| Recipient address | Who receives the funds | The address designated by the seller or settlement provider |\n| Transaction identifier | Which transfer it is | Success status, asset, amount, and recipient address |\n| Proof of order | What was purchased | Order number, store name, and payment authorization receipt |\n| Proof of settlement | What the merchant received | Records of coin receipt or Korean won deposits |\n\n[Coinbase's x402 documentation](https://docs.cdp.coinbase.com/x402/how-it-works) distinguishes authorization verification from actual settlement. This documentation serves as a reference for understanding payment structures. It does not prove the specific implementation adopted by this program in South Korea.\n\nFor example, a tourist may send coins to a settlement provider. The provider may then pay Korean won to the merchant. In that case, the coin transfer record alone cannot prove that settlement in Korean won has been completed.\n\nAlternatively, a merchant may receive coins directly. In that case, receipts at the designated address must be linked to the order. A successful blockchain transfer does not automatically prove that goods were delivered.\n\n## What to Check Under South Korean Law\n\nRelevant laws must each be reviewed against the actual business structure. A compliance plan in an MOU is not a government approval document. The laws below are summarized based on the official government texts in force on the date checked.\n\n| Law or regulation | Version checked | Relevant scope of review |\n| --- | --- | --- |\n| Electronic Financial Transactions Act | Version effective October 2, 2026 | Electronic financial business activities subject to licensing or registration, and exceptions |\n| Act on the Protection of Virtual Asset Users | Version effective October 2, 2026 | Protection of user assets and regulation of unfair trading |\n| Act on Reporting and Using Specified Financial Transaction Information | Version effective October 2, 2026 | Reporting requirements when an entity qualifies as a virtual asset service provider |\n| Foreign Exchange Transactions Act | Version effective January 2, 2026 | Cross-border transactions and methods of payment and receipt |\n| Foreign Exchange Transactions Regulations | Version effective September 16, 2026 | Reporting requirements and exceptions by payment method |\n\n### What Does Electronic Financial Business Registration Mean?\n\nLicensing and registration requirements for electronic financial businesses vary depending on the work performed. Electronic payment gateway services are among the activities subject to registration. The law also provides exceptions for financial companies and certain activities.\n\n[Article 28(2) of the Electronic Financial Transactions Act](https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1025295259) states:\n\n\u003e ② A person who intends to conduct any of the following activities shall register with the Financial Services Commission.\n\nThis is part of the main text of Article 28(2). When applying it to a particular business, the proviso and registration exceptions must also be checked. Whether an existing registration covers the entire new payment structure is a separate question.\n\n### Does the Virtual Asset User Protection Act Approve Payments?\n\nThe Virtual Asset User Protection Act is not an approval document for a specific payment service. [Article 7](https://www.law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1024558713) sets out requirements including the separate custody of user assets. It should not be read as a guarantee of a particular coin's price or a system's security.\n\nReporting requirements for service providers are addressed under a separate law. [Article 7 of the Act on Reporting and Using Specified Financial Transaction Information](https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1013169347) provides the legal basis. Its application must be assessed based on the actual activities, such as custody, trading, and transfers.\n\n### Do Foreign Exchange Regulations Apply to Tourist Payments?\n\nForeign exchange regulations must be reviewed based on the flow of funds and the parties to the transaction. [Article 16 of the Foreign Exchange Transactions Act](https://law.go.kr/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1021219621) provides reporting requirements for certain methods of payment and receipt. The law also provides for reporting after the fact and exceptions to reporting requirements.\n\nThe [Foreign Exchange Transactions Regulations](https://www.law.go.kr/LSW/admRulLsInfoR.do?admRulId=22029\u0026admRulSeq=2100000285140\u0026chrClsCd=010202\u0026joTpYn=Y\u0026languageType=KO) set out the details. Article 5-10 covers third-party payments and related matters. Article 5-11 covers payments made without going through a foreign exchange bank and related matters.\n\nIt therefore cannot be concluded that every coin payment by a tourist requires reporting. Conversely, an asset's dollar peg does not mean that reporting is exempt. This is a matter to check with the relevant authorities or a foreign exchange bank once the settlement structure has been defined.\n\n## Comparing Mobile Passports, Cards, and USDC\n\nA mobile passport serves an identity verification function, so its role differs from that of a payment method. It can be used alongside card or coin payments. Even if they are in the same app, distinguish the terms of use for each function.\n\n| Item | Mobile passport | Fiat-based card | USDC payment |\n| --- | --- | --- | --- |\n| Basic role | Identity verification based on passport information | Payment through a card network | Asset transfer on a supported chain |\n| Potential convenience | Mobile authentication at participating partners | Use of an existing card at supported stores | Use of assets already held if the recipient supports them |\n| Conditions for use | A passport that can be authenticated and a participating partner | Card issuer approval and store acceptance | Matching asset, chain, and recipient address |\n| Main costs | Check the terms of use for each service | Exchange rates, foreign transaction fees, and currency conversion costs | Costs related to acquisition, transfer, currency exchange, and settlement |\n| Cancellations and disputes | Issues involving authentication data handling and withdrawal of consent | Store and card issuer cancellation and dispute procedures | Check the seller's and operator's refund procedures |\n| Remaining limitations | Cannot be assumed to replace a physical passport everywhere | Foreign cards may be declined | Transfers to the wrong address, network mismatches, and redemption conditions |\n\nThe [LORDPASS terms](https://www.lordsystem.co.kr/termsLordpassService.html) describe passport-based authentication. They also set out the conditions for providing authentication information to partners. These terms cannot substitute for the terms of a new stablecoin payment service.\n\nCard costs may also vary depending on the displayed currency. [Visa's DCC guidance](https://www.visa.com/en-us/personal/travel/dynamic-currency-conversion) explains the disclosure of exchange rates and additional costs. At stores in South Korea, compare the conditions for paying in Korean won with those for paying in your home currency.\n\nUSDC does not eliminate currency exchange or refund costs either. The [Circle terms](https://www.circle.com/legal/usdc-terms) impose conditions on direct redemption, including account eligibility. They also state that USDC transactions cannot be reversed once transferred.\n\n## Common Misconceptions and Verification Limits\n\nTechnical feasibility and service availability to users must be verified through different evidence. The counterpoints below are assessment criteria drawn from public documents. They do not mean that illegal conduct or an incident at a specific company has been confirmed.\n\n| Common interpretation | Counterpoints and limitations to check |\n| --- | --- |\n| It has been demonstrated, so it can be used to pay in stores immediately | Evidence of actual store acceptance and proper settlement is needed |\n| It uses ERC-8004, so payments are secure | The standard does not directly cover payments and provides no guarantee against malicious behavior |\n| Its mobile passport business history means payment approval is complete | The scope of the existing identity verification business differs from that of the new fund-handling activities |\n| It is dollar-pegged, so its Korean won price is fixed too | The converted Korean won amount and applicable fees are separate matters |\n| Transaction records are public, so personal information is safe too | The scope of public records and the possibility of linking them to individuals require separate review |\n| An agreement means returns on stocks or tokens | Separate business results are needed to verify revenue, costs, and profit |\n\nAgent identification may help trace responsibility. However, it does not automatically prevent incorrect orders or misuse of permissions. The [security discussion in ERC-8004](https://eips.ethereum.org/EIPS/eip-8004) also does not guarantee that registered functions will operate correctly.\n\nA security review plan must also be distinguished from a completed review report. When reading a report, check the version reviewed and the scope of the assessment. A description of network security alone is not enough to assess the entire wallet, app, and settlement system.\n\n## Checklist Before Actual Use\n\nCheck availability for the specific service and store you intend to use. The payment screen alone makes it difficult to understand the settlement structure. You can ask about the following items before making any actual transfer.\n\n1. Check the operating legal entity and official launch notice.\n2. Check the eligible nationalities, passports, and phone number requirements.\n3. Check whether the store you intend to use accepts that payment method.\n4. Check that the asset name, chain, and token address match.\n5. Check the scope of user authorization and cumulative spending limits.\n6. Check the fees and applicable exchange rate.\n7. Check what asset the merchant receives and the criteria for completed settlement.\n8. Check the contact point for payment failures, duplicate charges, and refunds.\n9. Check the scope of passport information collection, storage, and sharing.\n10. Check whether you can keep the order number linked to the transaction identifier.\n\n## Verification Dates and Document Scope\n\nThe source documents were checked on October 23, 2026. The information cutoff date for this article is October 24, 2026. Subsequent changes to launches, terms, or regulatory approvals must be checked again.\n\n- Corporate disclosure: The body of the company name change notice under DART receipt number 20261014900497 was reviewed.\n- Corporate announcements: GOAT Network's current post and Lordsystem's company profile and terms were reviewed.\n- Date cross-check: The October 20 report was distinguished from the current text of the October 23 article.\n- Technical documents: ERC-8004, ERC-3009, Coinbase x402, and Circle documents were consulted.\n- Laws: The relevant versions in force and provisions available through the National Law Information Center were reviewed.\n- Verification limits: The full signed MOU and actual merchant settlement records could not be reviewed.\n- Scope of actual use: This article does not present findings from making payments directly or conducting a security audit.","content_html":"\u003cp\u003eThe stablecoin payment partnership between GOAT Network and Square Tech is at the stage of reviewing its application. Public announcements alone do not confirm that commercial payments are available at merchants in South Korea. Payment authorization by an AI agent must also be distinguished from the actual receipt of funds.\u003c/p\u003e\n\u003cp\u003eThe dates and figures below are based on disclosures and announcements from October 2026.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#announcement-dates-and-the-company-name-change-disclosure\" class=\"anchor\" id=\"announcement-dates-and-the-company-name-change-disclosure\"\u003e\u003c/a\u003eAnnouncement Dates and the Company Name Change Disclosure\u003c/h2\u003e\n\u003cp\u003eThe October 14 company name change and the payment agreement announcement are separate events. The DART disclosure confirms the change in the company's name. It is not a disclosure announcing the launch of a payment service.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eItem\u003c/th\u003e\n\u003cth\u003eWhat is confirmed\u003c/th\u003e\n\u003cth\u003eLimits on interpretation\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eOctober 14, 2026 DART notice of company name change\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed\"\u003eName changed from RN2 Technologies Co., Ltd. to Square Tech Co., Ltd.\u003c/td\u003e\n\u003ctd data-label=\"Limits on interpretation\"\u003eNot evidence of a service launch or regulatory approval\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eExtraordinary general meeting of shareholders on the same day\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed\"\u003eApproval of partial amendments to the articles of incorporation\u003c/td\u003e\n\u003ctd data-label=\"Limits on interpretation\"\u003eSeparate from the date corporate registration was completed or the stock name was updated on the exchange\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eOctober 20, 2026 TokenPost report\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed\"\u003eIntroduction of the MOU with GOAT Network and the proposed tourist payment program\u003c/td\u003e\n\u003ctd data-label=\"Limits on interpretation\"\u003eThis is the news report date, which differs from the date currently displayed on the company's original post\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eCurrent GOAT Network original post\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed\"\u003eDisplays October 22, 2026 as the publication date\u003c/td\u003e\n\u003ctd data-label=\"Limits on interpretation\"\u003eDifficult to independently establish the initial publication date or revision history\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eOctober 23, 2026 Byline Network article\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed\"\u003eThe current article text reports that the agreement was signed on October 22\u003c/td\u003e\n\u003ctd data-label=\"Limits on interpretation\"\u003eA final cross-check of the signing date requires the original signed agreement\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe new English name in the \u003ca href=\"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261014900497\"\u003eDART notice of company name change\u003c/a\u003e is Square Tech Co., Ltd. The stock code is KOSDAQ 148250. The disclosure states that the reasons for the change are entry into new businesses and enhancement of corporate value.\u003c/p\u003e\n\u003cp\u003eThe \u003ca href=\"https://www.tokenpost.kr/amp/news/cryptocurrency/424644\"\u003eOctober 20 report\u003c/a\u003e does exist. However, the date currently displayed on the \u003ca href=\"https://www.goat.network/news/goat-network-partners-with-square-tech-on-ai-agent-payments-in-south-korea\"\u003eGOAT Network original post\u003c/a\u003e is \u003cstrong\u003eOctober 22, 2026\u003c/strong\u003e. October 20 therefore cannot readily be used as the confirmed publication date of the company's original post.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#agreement-parties-and-the-mobile-passport-proposal\" class=\"anchor\" id=\"agreement-parties-and-the-mobile-passport-proposal\"\u003e\u003c/a\u003eAgreement Parties and the Mobile Passport Proposal\u003c/h2\u003e\n\u003cp\u003eGOAT Network and Square Tech are the central parties in this partnership. DAC Labs is described as a participant providing technical support. Lordsystem is identified separately as a co-developer of the tourist program.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eEntity\u003c/th\u003e\n\u003cth\u003eRole described in public announcements\u003c/th\u003e\n\u003cth\u003ePoints to distinguish\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Entity\"\u003eSquare Tech\u003c/td\u003e\n\u003ctd data-label=\"Role described in public announcements\"\u003eDomestic business development, merchant partnerships, regulatory compliance\u003c/td\u003e\n\u003ctd data-label=\"Points to distinguish\"\u003eA company name change alone does not confer eligibility to operate a payment business\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Entity\"\u003eGOAT Network\u003c/td\u003e\n\u003ctd data-label=\"Role described in public announcements\"\u003eProvision of AI agent payment technology and a network\u003c/td\u003e\n\u003ctd data-label=\"Points to distinguish\"\u003ePlans to provide technology are separate from operating a service in South Korea\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Entity\"\u003eDAC Labs\u003c/td\u003e\n\u003ctd data-label=\"Role described in public announcements\"\u003eTechnical integration, security reviews, and network operations support\u003c/td\u003e\n\u003ctd data-label=\"Points to distinguish\"\u003ePublic descriptions alone make it difficult to establish each signing entity's contractual responsibilities\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Entity\"\u003eLordsystem\u003c/td\u003e\n\u003ctd data-label=\"Role described in public announcements\"\u003eJoint development of a tourist program using mobile passports\u003c/td\u003e\n\u003ctd data-label=\"Points to distinguish\"\u003eInsufficient grounds to conclude that it is a direct signatory to this MOU\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe proposal involves paying with dollar stablecoins after mobile passport authentication. The parties are considering how to connect AI agent functions to this process. These roles and development stages are also described in the \u003ca href=\"https://byline.network/2026/10/1023-10/\"\u003ereport on the agreement\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eThe \u003ca href=\"https://www.lordsystem.co.kr/company.html\"\u003eLordsystem company profile\u003c/a\u003e describes its history in the mobile passport business. That history does not prove that this payment program has launched. The scope of the existing identity verification service must be distinguished from that of the new payment functions.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-do-an-mou-a-demonstration-and-commercialization-differ\" class=\"anchor\" id=\"how-do-an-mou-a-demonstration-and-commercialization-differ\"\u003e\u003c/a\u003eHow Do an MOU, a Demonstration, and Commercialization Differ?\u003c/h2\u003e\n\u003cp\u003eAn MOU is an agreement to cooperate, while the actual availability of payments is assessed through evidence of operation. The legal enforceability of an agreement depends on its individual provisions. Its title alone is not grounds to conclude that it creates no obligations.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eStage\u003c/th\u003e\n\u003cth\u003eMeaning\u003c/th\u003e\n\u003cth\u003eWhat is confirmed for this partnership\u003c/th\u003e\n\u003cth\u003eEvidence needed next\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Stage\"\u003eMOU and application review\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eStage of defining the direction of cooperation and each party's role\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed for this partnership\"\u003eAnnouncement of a review of application in South Korea\u003c/td\u003e\n\u003ctd data-label=\"Evidence needed next\"\u003eSpecific service scope and responsible entities\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Stage\"\u003eDemonstration and pilot testing\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eStage of testing operation in a limited environment\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed for this partnership\"\u003eAccording to GOAT's own announcement, 310 purchases over two days at its KBW 2026 booth\u003c/td\u003e\n\u003ctd data-label=\"Evidence needed next\"\u003eTest conditions, whether real funds were used, and receipt and refund records\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Stage\"\u003eCommercial service launch\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eStage at which specified users use the service under its terms\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed for this partnership\"\u003eNo launch date or terms of service could be confirmed in the announcements reviewed\u003c/td\u003e\n\u003ctd data-label=\"Evidence needed next\"\u003eLaunch notice, operating terms, and customer support channels\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Stage\"\u003eActual merchant payments\u003c/td\u003e\n\u003ctd data-label=\"Meaning\"\u003eA state in which order payments are processed normally at specific stores\u003c/td\u003e\n\u003ctd data-label=\"What is confirmed for this partnership\"\u003eNo store-level evidence of acceptance or settlement could be confirmed for this program\u003c/td\u003e\n\u003ctd data-label=\"Evidence needed next\"\u003eMerchant list, order receipts, and receipt and settlement records\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe number of purchases at the event is a figure announced by the company. It is not independently verified commercial transaction volume in South Korea. Conversely, a lack of public evidence does not mean that no development activity has taken place.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eItems not yet confirmed\u003c/th\u003e\n\u003cth\u003eWhy they are needed for actual use\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eLaunch date and tourist eligibility requirements\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo determine whether registration and use are actually available\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eSupported stablecoins and token addresses\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo distinguish them from other assets with similar names\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003ePayment chain and operating environment\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo distinguish test networks from networks where real funds move\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eParticipating merchants and compatible payment terminals\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo confirm acceptance at a specific store\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eSettlement structure in Korean won or coins\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo confirm what merchants receive\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eFees, exchange rates, and refund conditions\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo assess total costs and the amount returned upon cancellation\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Items not yet confirmed\"\u003eLicensed or registered operators and their scope of work\u003c/td\u003e\n\u003ctd data-label=\"Why they are needed for actual use\"\u003eTo confirm who handles funds and under what authorization\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003e“Not confirmed” in this table refers to the scope of the public documents reviewed. It is not a judgment on all stablecoin businesses in South Korea. Availability at a specific store must be checked with the relevant service operator.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-do-prior-authorization-and-spending-limits-work\" class=\"anchor\" id=\"how-do-prior-authorization-and-spending-limits-work\"\u003e\u003c/a\u003eHow Do Prior Authorization and Spending Limits Work?\u003c/h2\u003e\n\u003cp\u003eIdentity verification is different from permission to make a payment. An agent's identification number cannot replace user authorization either. Moving real funds requires a defined scope of authorization and a mechanism to enforce it.\u003c/p\u003e\n\u003cp\u003eThe \u003ca href=\"https://eips.ethereum.org/EIPS/eip-8004\"\u003eERC-8004 technical document\u003c/a\u003e covers agent identity, reputation, and validation. The document reviewed has Draft status. It explicitly states that payments are outside the scope of the standard.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#example-of-a-tourist-ordering-a-meal\" class=\"anchor\" id=\"example-of-a-tourist-ordering-a-meal\"\u003e\u003c/a\u003eExample of a Tourist Ordering a Meal\u003c/h3\u003e\n\u003cp\u003eEven when an agent is asked to order a meal, payment conditions must be set separately. The following is a hypothetical scenario explaining the principle. It does not mean that these features have already been implemented in this program.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eConfirm the food to be ordered and the seller.\u003c/li\u003e\n\u003cli\u003eSpecify the asset and payment network to use.\u003c/li\u003e\n\u003cli\u003eCheck the order amount and any separate fees.\u003c/li\u003e\n\u003cli\u003eSet the authorization validity period and permitted spending scope.\u003c/li\u003e\n\u003cli\u003eThe payment system checks the authorization conditions.\u003c/li\u003e\n\u003cli\u003eAfter payment, cross-check the order receipt against the fund transfer record.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eThe \u003ca href=\"https://eips.ethereum.org/EIPS/eip-3009\"\u003eERC-3009 technical document\u003c/a\u003e describes signed transfer authorizations. Authorization information includes the recipient address and amount. It also includes a validity period and a value that prevents reuse.\u003c/p\u003e\n\u003cp\u003eA daily cumulative limit is separate from an individual transfer authorization. A mechanism is needed to add up spending across multiple orders. If you have only told the AI a limit in conversation, check whether that limit is actually enforced.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eSituation\u003c/th\u003e\n\u003cth\u003eRequired control\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Situation\"\u003eThe price of an authorized order changes\u003c/td\u003e\n\u003ctd data-label=\"Required control\"\u003eReauthorization of the changed amount\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Situation\"\u003eThe same order is submitted more than once\u003c/td\u003e\n\u003ctd data-label=\"Required control\"\u003eDuplicate prevention using the order number and authorization value\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Situation\"\u003eIndividual orders are small, but cumulative spending grows\u003c/td\u003e\n\u003ctd data-label=\"Required control\"\u003eChecks against cumulative limits for each period\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Situation\"\u003eThe authorization period ends\u003c/td\u003e\n\u003ctd data-label=\"Required control\"\u003eBlocking execution of expired permissions\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Situation\"\u003eDelegation is revoked\u003c/td\u003e\n\u003ctd data-label=\"Required control\"\u003eRevocation of permissions before use and confirmation that it has taken effect\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eRevoking authorization is also separate from refunding a completed payment. Revocation stops permissions from being used in the future. Refunds for completed orders follow the seller's and payment operator's refund procedures.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#usdc-chains-and-evidence-of-merchant-receipt\" class=\"anchor\" id=\"usdc-chains-and-evidence-of-merchant-receipt\"\u003e\u003c/a\u003eUSDC, Chains, and Evidence of Merchant Receipt\u003c/h2\u003e\n\u003cp\u003eThe phrase “dollar stablecoin” alone does not confirm support for USDC. USDC is one type of asset designed to track the value of the dollar. It is used here as an example to explain how payments work.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://developers.circle.com/stablecoins/usdc-contract-addresses\"\u003eCircle's USDC address documentation\u003c/a\u003e lists asset addresses by chain. Assets with the same display name may differ in issuance type and network. The documentation explains that testnet USDC is not backed by real dollars.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eItem to check\u003c/th\u003e\n\u003cth\u003ePlain meaning\u003c/th\u003e\n\u003cth\u003eWhat to verify\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eAsset type\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhat is being sent\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eIssuer and exact token address\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eChain\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhich payment network is used\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eA network supported by both the seller and the wallet\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eIssuance type\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhether it is a directly issued asset or a representation used for transfers\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eThe difference between native USDC and bridged assets\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eRecipient address\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWho receives the funds\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eThe address designated by the seller or settlement provider\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eTransaction identifier\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhich transfer it is\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eSuccess status, asset, amount, and recipient address\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eProof of order\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhat was purchased\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eOrder number, store name, and payment authorization receipt\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item to check\"\u003eProof of settlement\u003c/td\u003e\n\u003ctd data-label=\"Plain meaning\"\u003eWhat the merchant received\u003c/td\u003e\n\u003ctd data-label=\"What to verify\"\u003eRecords of coin receipt or Korean won deposits\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003e\u003ca href=\"https://docs.cdp.coinbase.com/x402/how-it-works\"\u003eCoinbase's x402 documentation\u003c/a\u003e distinguishes authorization verification from actual settlement. This documentation serves as a reference for understanding payment structures. It does not prove the specific implementation adopted by this program in South Korea.\u003c/p\u003e\n\u003cp\u003eFor example, a tourist may send coins to a settlement provider. The provider may then pay Korean won to the merchant. In that case, the coin transfer record alone cannot prove that settlement in Korean won has been completed.\u003c/p\u003e\n\u003cp\u003eAlternatively, a merchant may receive coins directly. In that case, receipts at the designated address must be linked to the order. A successful blockchain transfer does not automatically prove that goods were delivered.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#what-to-check-under-south-korean-law\" class=\"anchor\" id=\"what-to-check-under-south-korean-law\"\u003e\u003c/a\u003eWhat to Check Under South Korean Law\u003c/h2\u003e\n\u003cp\u003eRelevant laws must each be reviewed against the actual business structure. A compliance plan in an MOU is not a government approval document. The laws below are summarized based on the official government texts in force on the date checked.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eLaw or regulation\u003c/th\u003e\n\u003cth\u003eVersion checked\u003c/th\u003e\n\u003cth\u003eRelevant scope of review\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Law or regulation\"\u003eElectronic Financial Transactions Act\u003c/td\u003e\n\u003ctd data-label=\"Version checked\"\u003eVersion effective October 2, 2026\u003c/td\u003e\n\u003ctd data-label=\"Relevant scope of review\"\u003eElectronic financial business activities subject to licensing or registration, and exceptions\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Law or regulation\"\u003eAct on the Protection of Virtual Asset Users\u003c/td\u003e\n\u003ctd data-label=\"Version checked\"\u003eVersion effective October 2, 2026\u003c/td\u003e\n\u003ctd data-label=\"Relevant scope of review\"\u003eProtection of user assets and regulation of unfair trading\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Law or regulation\"\u003eAct on Reporting and Using Specified Financial Transaction Information\u003c/td\u003e\n\u003ctd data-label=\"Version checked\"\u003eVersion effective October 2, 2026\u003c/td\u003e\n\u003ctd data-label=\"Relevant scope of review\"\u003eReporting requirements when an entity qualifies as a virtual asset service provider\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Law or regulation\"\u003eForeign Exchange Transactions Act\u003c/td\u003e\n\u003ctd data-label=\"Version checked\"\u003eVersion effective January 2, 2026\u003c/td\u003e\n\u003ctd data-label=\"Relevant scope of review\"\u003eCross-border transactions and methods of payment and receipt\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Law or regulation\"\u003eForeign Exchange Transactions Regulations\u003c/td\u003e\n\u003ctd data-label=\"Version checked\"\u003eVersion effective September 16, 2026\u003c/td\u003e\n\u003ctd data-label=\"Relevant scope of review\"\u003eReporting requirements and exceptions by payment method\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch3\u003e\n\u003ca href=\"#what-does-electronic-financial-business-registration-mean\" class=\"anchor\" id=\"what-does-electronic-financial-business-registration-mean\"\u003e\u003c/a\u003eWhat Does Electronic Financial Business Registration Mean?\u003c/h3\u003e\n\u003cp\u003eLicensing and registration requirements for electronic financial businesses vary depending on the work performed. Electronic payment gateway services are among the activities subject to registration. The law also provides exceptions for financial companies and certain activities.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026amp;lsJoLnkSeq=1025295259\"\u003eArticle 28(2) of the Electronic Financial Transactions Act\u003c/a\u003e states:\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003e② A person who intends to conduct any of the following activities shall register with the Financial Services Commission.\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003cp\u003eThis is part of the main text of Article 28(2). When applying it to a particular business, the proviso and registration exceptions must also be checked. Whether an existing registration covers the entire new payment structure is a separate question.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#does-the-virtual-asset-user-protection-act-approve-payments\" class=\"anchor\" id=\"does-the-virtual-asset-user-protection-act-approve-payments\"\u003e\u003c/a\u003eDoes the Virtual Asset User Protection Act Approve Payments?\u003c/h3\u003e\n\u003cp\u003eThe Virtual Asset User Protection Act is not an approval document for a specific payment service. \u003ca href=\"https://www.law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026amp;lsJoLnkSeq=1024558713\"\u003eArticle 7\u003c/a\u003e sets out requirements including the separate custody of user assets. It should not be read as a guarantee of a particular coin's price or a system's security.\u003c/p\u003e\n\u003cp\u003eReporting requirements for service providers are addressed under a separate law. \u003ca href=\"https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026amp;lsJoLnkSeq=1013169347\"\u003eArticle 7 of the Act on Reporting and Using Specified Financial Transaction Information\u003c/a\u003e provides the legal basis. Its application must be assessed based on the actual activities, such as custody, trading, and transfers.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#do-foreign-exchange-regulations-apply-to-tourist-payments\" class=\"anchor\" id=\"do-foreign-exchange-regulations-apply-to-tourist-payments\"\u003e\u003c/a\u003eDo Foreign Exchange Regulations Apply to Tourist Payments?\u003c/h3\u003e\n\u003cp\u003eForeign exchange regulations must be reviewed based on the flow of funds and the parties to the transaction. \u003ca href=\"https://law.go.kr/lsLinkCommonInfo.do?chrClsCd=010202\u0026amp;lsJoLnkSeq=1021219621\"\u003eArticle 16 of the Foreign Exchange Transactions Act\u003c/a\u003e provides reporting requirements for certain methods of payment and receipt. The law also provides for reporting after the fact and exceptions to reporting requirements.\u003c/p\u003e\n\u003cp\u003eThe \u003ca href=\"https://www.law.go.kr/LSW/admRulLsInfoR.do?admRulId=22029\u0026amp;admRulSeq=2100000285140\u0026amp;chrClsCd=010202\u0026amp;joTpYn=Y\u0026amp;languageType=KO\"\u003eForeign Exchange Transactions Regulations\u003c/a\u003e set out the details. Article 5-10 covers third-party payments and related matters. Article 5-11 covers payments made without going through a foreign exchange bank and related matters.\u003c/p\u003e\n\u003cp\u003eIt therefore cannot be concluded that every coin payment by a tourist requires reporting. Conversely, an asset's dollar peg does not mean that reporting is exempt. This is a matter to check with the relevant authorities or a foreign exchange bank once the settlement structure has been defined.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparing-mobile-passports-cards-and-usdc\" class=\"anchor\" id=\"comparing-mobile-passports-cards-and-usdc\"\u003e\u003c/a\u003eComparing Mobile Passports, Cards, and USDC\u003c/h2\u003e\n\u003cp\u003eA mobile passport serves an identity verification function, so its role differs from that of a payment method. It can be used alongside card or coin payments. Even if they are in the same app, distinguish the terms of use for each function.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eItem\u003c/th\u003e\n\u003cth\u003eMobile passport\u003c/th\u003e\n\u003cth\u003eFiat-based card\u003c/th\u003e\n\u003cth\u003eUSDC payment\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eBasic role\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eIdentity verification based on passport information\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003ePayment through a card network\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eAsset transfer on a supported chain\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003ePotential convenience\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eMobile authentication at participating partners\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003eUse of an existing card at supported stores\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eUse of assets already held if the recipient supports them\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eConditions for use\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eA passport that can be authenticated and a participating partner\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003eCard issuer approval and store acceptance\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eMatching asset, chain, and recipient address\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eMain costs\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eCheck the terms of use for each service\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003eExchange rates, foreign transaction fees, and currency conversion costs\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eCosts related to acquisition, transfer, currency exchange, and settlement\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eCancellations and disputes\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eIssues involving authentication data handling and withdrawal of consent\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003eStore and card issuer cancellation and dispute procedures\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eCheck the seller's and operator's refund procedures\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Item\"\u003eRemaining limitations\u003c/td\u003e\n\u003ctd data-label=\"Mobile passport\"\u003eCannot be assumed to replace a physical passport everywhere\u003c/td\u003e\n\u003ctd data-label=\"Fiat-based card\"\u003eForeign cards may be declined\u003c/td\u003e\n\u003ctd data-label=\"USDC payment\"\u003eTransfers to the wrong address, network mismatches, and redemption conditions\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe \u003ca href=\"https://www.lordsystem.co.kr/termsLordpassService.html\"\u003eLORDPASS terms\u003c/a\u003e describe passport-based authentication. They also set out the conditions for providing authentication information to partners. These terms cannot substitute for the terms of a new stablecoin payment service.\u003c/p\u003e\n\u003cp\u003eCard costs may also vary depending on the displayed currency. \u003ca href=\"https://www.visa.com/en-us/personal/travel/dynamic-currency-conversion\"\u003eVisa's DCC guidance\u003c/a\u003e explains the disclosure of exchange rates and additional costs. At stores in South Korea, compare the conditions for paying in Korean won with those for paying in your home currency.\u003c/p\u003e\n\u003cp\u003eUSDC does not eliminate currency exchange or refund costs either. The \u003ca href=\"https://www.circle.com/legal/usdc-terms\"\u003eCircle terms\u003c/a\u003e impose conditions on direct redemption, including account eligibility. They also state that USDC transactions cannot be reversed once transferred.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#common-misconceptions-and-verification-limits\" class=\"anchor\" id=\"common-misconceptions-and-verification-limits\"\u003e\u003c/a\u003eCommon Misconceptions and Verification Limits\u003c/h2\u003e\n\u003cp\u003eTechnical feasibility and service availability to users must be verified through different evidence. The counterpoints below are assessment criteria drawn from public documents. They do not mean that illegal conduct or an incident at a specific company has been confirmed.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCommon interpretation\u003c/th\u003e\n\u003cth\u003eCounterpoints and limitations to check\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eIt has been demonstrated, so it can be used to pay in stores immediately\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eEvidence of actual store acceptance and proper settlement is needed\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eIt uses ERC-8004, so payments are secure\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eThe standard does not directly cover payments and provides no guarantee against malicious behavior\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eIts mobile passport business history means payment approval is complete\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eThe scope of the existing identity verification business differs from that of the new fund-handling activities\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eIt is dollar-pegged, so its Korean won price is fixed too\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eThe converted Korean won amount and applicable fees are separate matters\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eTransaction records are public, so personal information is safe too\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eThe scope of public records and the possibility of linking them to individuals require separate review\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Common interpretation\"\u003eAn agreement means returns on stocks or tokens\u003c/td\u003e\n\u003ctd data-label=\"Counterpoints and limitations to check\"\u003eSeparate business results are needed to verify revenue, costs, and profit\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eAgent identification may help trace responsibility. However, it does not automatically prevent incorrect orders or misuse of permissions. The \u003ca href=\"https://eips.ethereum.org/EIPS/eip-8004\"\u003esecurity discussion in ERC-8004\u003c/a\u003e also does not guarantee that registered functions will operate correctly.\u003c/p\u003e\n\u003cp\u003eA security review plan must also be distinguished from a completed review report. When reading a report, check the version reviewed and the scope of the assessment. A description of network security alone is not enough to assess the entire wallet, app, and settlement system.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#checklist-before-actual-use\" class=\"anchor\" id=\"checklist-before-actual-use\"\u003e\u003c/a\u003eChecklist Before Actual Use\u003c/h2\u003e\n\u003cp\u003eCheck availability for the specific service and store you intend to use. The payment screen alone makes it difficult to understand the settlement structure. You can ask about the following items before making any actual transfer.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eCheck the operating legal entity and official launch notice.\u003c/li\u003e\n\u003cli\u003eCheck the eligible nationalities, passports, and phone number requirements.\u003c/li\u003e\n\u003cli\u003eCheck whether the store you intend to use accepts that payment method.\u003c/li\u003e\n\u003cli\u003eCheck that the asset name, chain, and token address match.\u003c/li\u003e\n\u003cli\u003eCheck the scope of user authorization and cumulative spending limits.\u003c/li\u003e\n\u003cli\u003eCheck the fees and applicable exchange rate.\u003c/li\u003e\n\u003cli\u003eCheck what asset the merchant receives and the criteria for completed settlement.\u003c/li\u003e\n\u003cli\u003eCheck the contact point for payment failures, duplicate charges, and refunds.\u003c/li\u003e\n\u003cli\u003eCheck the scope of passport information collection, storage, and sharing.\u003c/li\u003e\n\u003cli\u003eCheck whether you can keep the order number linked to the transaction identifier.\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch2\u003e\n\u003ca href=\"#verification-dates-and-document-scope\" class=\"anchor\" id=\"verification-dates-and-document-scope\"\u003e\u003c/a\u003eVerification Dates and Document Scope\u003c/h2\u003e\n\u003cp\u003eThe source documents were checked on October 23, 2026. The information cutoff date for this article is October 24, 2026. Subsequent changes to launches, terms, or regulatory approvals must be checked again.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eCorporate disclosure: The body of the company name change notice under DART receipt number 20261014900497 was reviewed.\u003c/li\u003e\n\u003cli\u003eCorporate announcements: GOAT Network's current post and Lordsystem's company profile and terms were reviewed.\u003c/li\u003e\n\u003cli\u003eDate cross-check: The October 20 report was distinguished from the current text of the October 23 article.\u003c/li\u003e\n\u003cli\u003eTechnical documents: ERC-8004, ERC-3009, Coinbase x402, and Circle documents were consulted.\u003c/li\u003e\n\u003cli\u003eLaws: The relevant versions in force and provisions available through the National Law Information Center were reviewed.\u003c/li\u003e\n\u003cli\u003eVerification limits: The full signed MOU and actual merchant settlement records could not be reviewed.\u003c/li\u003e\n\u003cli\u003eScope of actual use: This article does not present findings from making payments directly or conducting a security audit.\u003c/li\u003e\n\u003c/ul\u003e\n","tags":["Personal data protection","Everyday Finance","Stablecoin","AI Agents"],"faqs":[{"question":"Can I use GOAT Network and Squaretech payments in stores now?","answer":"This cannot be confirmed from the public announcements reviewed. You need to check the official launch announcement and whether the store accepts these payments."},{"question":"Was the agreement announced on October 20, 2026?","answer":"There are media reports dated October 20. The original GOAT Network post currently shows October 22. The media reporting date, the company's posting date, and the date the agreement was signed must be distinguished."},{"question":"Is Squaretech the same company as RN2 Technologies?","answer":"You can check the names before and after the change in the October 14 company name change notice on DART. The new Korean corporate name is Squaretech Co., Ltd."},{"question":"Is Lordsystem also a direct party to this MOU?","answer":"Public descriptions identify it as a co-developer of the tourist payment program. The full text of the signed agreement has not been reviewed, so it cannot be definitively identified as a direct signatory."},{"question":"Does an MOU have no legal effect at all?","answer":"You cannot judge by the title alone. Individual provisions, such as confidentiality clauses, may be binding. However, signing an MOU does not itself mean that a consumer service has launched."},{"question":"If I verify my identity with a mobile passport, can AI make payments?","answer":"Identity verification and payment authorization are separate. You need to check the scope of authorization, including the assets to be used, the recipient, the amount, and the validity period."},{"question":"Does ERC-8004 automatically enforce spending limits as well?","answer":"ERC-8004 is a standard covering agent identification, reputation, and validation. Payments and cumulative spending limits require separate implementation."},{"question":"Does this program support USDC?","answer":"The announcements reviewed describe a plan involving dollar stablecoins. Specific support for USDC, as well as the chain and token address, has not been confirmed."},{"question":"If a blockchain transaction succeeds, does that mean the merchant has received the money?","answer":"It depends on the receiving address and the settlement structure. If the settlement provider receives coins and then pays out Korean won, the merchant's deposit records must be checked separately."},{"question":"Does the Virtual Asset User Protection Act guarantee payment safety?","answer":"It cannot be interpreted that way. Obligations to protect users' assets and the security of a particular payment system are separate matters."},{"question":"Do foreign tourists have to report every coin payment as a foreign exchange transaction?","answer":"There is no single answer that applies to all cases. The applicable rules and exceptions vary depending on the parties to the transaction and the payment method. You need to check based on the specific settlement structure."},{"question":"If I have a mobile passport, do I no longer need a physical passport?","answer":"You cannot assume it replaces a physical passport everywhere. Check the extent to which the institutions and stores you plan to use accept it."},{"question":"Is USDC always cheaper than a card?","answer":"You cannot make a judgment without total cost data. You need to compare asset acquisition, transfer, currency conversion, and settlement costs with the card's exchange rates and fees."},{"question":"If I cancel the payment authorization, will the USDC I already sent be returned too?","answer":"Canceling an authorization is different from refunding a completed transfer. For orders that have already been processed, you need to check the merchant's and operator's refund procedures."},{"question":"Can I expect returns from companies participating in the agreement or from related tokens?","answer":"You cannot assess investment returns based on the agreement alone. Separate data is needed to verify service performance, costs, and profits. Holding USDC itself does not generate interest either."}],"sources":[{"url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20261014900497","title":"DART, RN2 Technologies Notice of Company Name Change, October 14, 2026","type":"source"},{"url":"https://www.goat.network/news/goat-network-partners-with-square-tech-on-ai-agent-payments-in-south-korea","title":"GOAT Network Partners with Square Tech on AI Agent Payments in South Korea, currently displayed date: October 22, 2026","type":"source"},{"url":"https://www.tokenpost.kr/amp/news/cryptocurrency/424644","title":"TokenPost, KOSDAQ-Listed Square Tech Signs MOU on AI Agent Payments, October 20, 2026","type":"source"},{"url":"https://byline.network/2026/10/1023-10/","title":"Byline Network, Square Tech and GOAT Network Sign MOU on AI Agent Stablecoin Payments in South Korea, October 23, 2026","type":"source"},{"url":"https://www.lordsystem.co.kr/company.html","title":"Lordsystem Company Overview and Business History","type":"source"},{"url":"https://www.lordsystem.co.kr/termsLordpassService.html","title":"LORDPASS Terms of Service","type":"source"},{"url":"https://eips.ethereum.org/EIPS/eip-8004","title":"Ethereum Improvement Proposals, ERC-8004: Trustless Agents","type":"source"},{"url":"https://eips.ethereum.org/EIPS/eip-3009","title":"Ethereum Improvement Proposals, ERC-3009: Transfer With Authorization","type":"source"},{"url":"https://docs.cdp.coinbase.com/x402/how-it-works","title":"Coinbase Developer Documentation, How x402 works","type":"source"},{"url":"https://developers.circle.com/stablecoins/usdc-contract-addresses","title":"Circle Developer Documentation, USDC Contract Addresses","type":"source"},{"url":"https://www.circle.com/legal/usdc-terms","title":"Circle, USDC Terms","type":"source"},{"url":"https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1025295259","title":"National Law Information Center, Electronic Financial Transactions Act, Article 28, version effective October 2, 2026","type":"source"},{"url":"https://www.law.go.kr/lsInfoP.do?lsId=014474","title":"National Law Information Center, Act on the Protection of Virtual Asset Users, Etc., version effective October 2, 2026","type":"source"},{"url":"https://www.law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1024558713","title":"National Law Information Center, Virtual Asset User Protection Act, Article 7, Custody of Virtual Assets","type":"source"},{"url":"https://law.go.kr/LSW/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1013169347","title":"National Law Information Center, Act on Reporting and Using Specified Financial Transaction Information, Article 7, Reporting, version effective October 2, 2026","type":"source"},{"url":"https://law.go.kr/lsLinkCommonInfo.do?chrClsCd=010202\u0026lsJoLnkSeq=1021219621","title":"National Law Information Center, Foreign Exchange Transactions Act, Article 16, version effective January 2, 2026","type":"source"},{"url":"https://www.law.go.kr/LSW/admRulLsInfoR.do?admRulId=22029\u0026admRulSeq=2100000285140\u0026chrClsCd=010202\u0026joTpYn=Y\u0026languageType=KO","title":"National Law Information Center, Foreign Exchange Transactions Regulations, version effective September 16, 2026","type":"source"},{"url":"https://www.visa.com/en-us/personal/travel/dynamic-currency-conversion","title":"Visa, What you should know about Dynamic Currency Conversion","type":"source"}],"images":[{"id":2100,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MzIyOTIsInB1ciI6ImJsb2JfaWQifX0=--90c46ee395a827895978e8b579f1f40186f996e7/ai-36097622.webp","is_representative":true,"generation_method":"ai_photo","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"파란 앞치마를 입은 식당 주인이 태블릿과 결제 단말기가 놓인 식탁에서 다른 남성과 대화하고 있다.","caption":"AI 에이전트 결제의 실사용을 판단하려면 사용자 승인과 지출 한도, 가맹점 수령 증빙을 확인해야 합니다.","description":null},"en":{"alt":"A restaurant owner in a blue apron talks with a man at a table with a tablet and payment terminal.","caption":"Assessing real-world AI agent payments requires checking user authorization, spending limits and proof of merchant receipt.","description":null},"ja":{"alt":"青いエプロン姿の飲食店主が、タブレットと決済端末の置かれたテーブルで男性と話している。","caption":"AIエージェント決済の実用性を判断するには、利用者の承認、支出上限、加盟店の代金受領の証拠を確認する必要があります。","description":null},"es":{"alt":"Un dueño de restaurante con delantal azul habla con un hombre ante una tableta y un terminal de pago.","caption":"Evaluar el uso real de pagos por agentes de IA exige verificar la autorización, los límites de gasto y la recepción del pago por el comercio.","description":null},"id":{"alt":"Pemilik restoran bercelemek biru berbincang dengan pria di meja yang dilengkapi tablet dan terminal pembayaran.","caption":"Penggunaan nyata pembayaran oleh agen AI perlu dinilai melalui persetujuan pengguna, batas belanja dan bukti penerimaan dana oleh pedagang.","description":null},"pt":{"alt":"Dono de restaurante de avental azul conversa com um homem à mesa, com um tablet e um terminal de pagamento.","caption":"Avaliar o uso real de pagamentos por agentes de IA exige verificar a autorização, os limites de gastos e o recebimento pelo estabelecimento.","description":null},"zh-hant":{"alt":"穿藍色圍裙的餐廳老闆與另一名男子交談，桌上放著平板電腦和支付終端機。","caption":"判斷 AI 代理支付是否實際可用，須確認使用者授權、支出限額及商家收款證明。","description":null},"de":{"alt":"Ein Restaurantbesitzer mit blauer Schürze spricht mit einem Mann am Tisch mit Tablet und Zahlungsterminal.","caption":"Für den realen Einsatz von KI-Agentenzahlungen sind Nutzerfreigabe, Ausgabenlimits und Nachweise des Zahlungseingangs beim Händler zu prüfen.","description":null}}},{"id":2101,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6MzIyOTksInB1ciI6ImJsb2JfaWQifX0=--ec31c9585b5f11447ca6035b5b940e7bf4fbbcdc/ai-00ec3a5d.webp","is_representative":false,"generation_method":"ai_semi","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"전시장 카운터에서 자주색 카디건을 입은 여성이 태블릿 옆에 영수증을 놓고 확인하는 모습","caption":"행사 시연만으로 일반 가맹점에서의 상용 결제를 확인할 수는 없습니다.","description":null},"en":{"alt":"A woman in a plum cardigan checks a receipt beside a tablet on an exhibition counter.","caption":"An event demonstration alone does not establish that commercial payments are available at ordinary merchants.","description":null},"ja":{"alt":"展示会のカウンターで、赤紫色のカーディガンを着た女性がタブレットの横にレシートを置いて確認している","caption":"イベントでの実演だけでは、一般加盟店での商用決済が可能になったとは確認できません。","description":null},"es":{"alt":"Una mujer con un cárdigan ciruela revisa un recibo junto a una tableta en el mostrador de una exposición.","caption":"Una demostración en un evento no basta para confirmar que los pagos comerciales estén disponibles en comercios habituales.","description":null},"id":{"alt":"Seorang perempuan berkardigan ungu tua memeriksa struk di samping tablet di meja pameran.","caption":"Demonstrasi di sebuah acara saja belum membuktikan bahwa pembayaran komersial tersedia di merchant umum.","description":null},"pt":{"alt":"Uma mulher de cardigã ameixa confere um recibo ao lado de um tablet no balcão de uma exposição.","caption":"Uma demonstração em um evento não basta para confirmar a disponibilidade de pagamentos comerciais em estabelecimentos comuns.","description":null},"zh-hant":{"alt":"一名穿著紫紅色針織外套的女子，在展場櫃檯將收據放在平板電腦旁核對","caption":"僅憑活動示範，無法確認一般特約商店已能提供商用支付服務。","description":null},"de":{"alt":"Eine Frau in einer pflaumenfarbenen Strickjacke prüft einen Beleg neben einem Tablet am Messestand.","caption":"Eine Vorführung allein belegt nicht, dass kommerzielle Zahlungen bei regulären Händlern verfügbar sind.","description":null}}}],"published_at":"2026-10-24T07:33:51+09:00","updated_at":"2026-10-24T07:33:51+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/ai-agent-payments-korea-2026-goat-square-tech-mou"}