T-money is a rechargeable series of cards and other "smart" devices used for paying transportation fares in and around Seoul and other areas of South Korea. T-money can also be used in lieu of cash or credit cards in some convenience stores and other businesses. The T-money System has been implemented and is being operated by Korea Smart Card Co., Ltd which is 34.4% owned by Seoul Metropolitan City Government, 31.85% owned by LG CNS, and 15.73% owned by Credit Card Union.

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T-money - History
... government announced the name of new transit card called T-money ... June 2004 T-money terminals installed at stations ... October 15, 2005 Incheon public transit system started to accept T-money ...