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Opening a bank Account

A resident foreigner can open a bank account by simply visiting the bank in question, whether he/she resides in Korea or not.

(A resident foreigner refers to an individual who has been in Korea for more than 6 months, while a non-resident foreigner refers to a person who has been in Korea for less than 6 months.)

Opening a bank Account
Required Documents
  • You should be at a branch of the bank chosen by you and ask to open an account.
  • You should present your resident foreigner registration certificate and passport.
  • The branch will give you your bankbook and cash card on the spot.

※ You may use the cash card to withdraw money from an ATM (Automated Teller Machine)

Tax & Interest Rates
  • For a resident foreigner: Korean regulations are applied to the foreigner’s tax and interest rates.
  • For a non-resident foreigner: the tax rates are affected by the regulations of the foreigner’s country, whereas interest rates are affected by Korean regulations.
Business hours
  • Business hours: Mon ~ Fri, 9:00am~4:00pm
  • Bank’s ATMs: You can use them at any time outside the following time slot: 10:00 PM ~ 8:00 AM.


You can transfer money overseas from a bank. You may send up to $50,000 (including an exchange fee) out of the country. All your money transfer transactions should be made at a bank selected by you. If you can present a document showing how you have acquired the money, you may send a sum not exceeding the amount of income acquired in Korea out of the country. Different banks have different fees and restrictions on transfers.

Required Documents
  • Passport, employment contract, foreign registration card, receipts.
  • Sending money by telegraphic transfer is fast and convenient. For a transfer, you need to write down the name of the recipient, address, account number, name of bank, and other pertinent information.

Exchange of Money

If you have a passport or foreign registration card, you can easily exchange foreign money or traveler’s checks for Korean won at local banks. Be sure to keep the slip that the bank issues as evidence of a foreign exchange transaction. The slip will help you sell your Korean won for a foreign currency more easily on your departure from Korea.

Required Documents
  • Passport, employment contract, foreign registration card, receipts.
  • Sending money by telegraphic transfer is fast and convenient. For a transfer, you need to write down the name of the recipient, address, account number, name of bank, and other pertinent information.

Credit card

Credit card companies issue credit cards to those who meet their specific requirements for issuance. So if you don’t have a good credit record, your request for a credit card might be rejected.

Credit card
Required Documents
  • Application form (including photo)
  • Foreign registration card, plus a document ascertaining your income (e.g. employment certificate, tax invoice, etc) if requested

※ Different banks or credit card companies may require different documents.

Annual membership fee The annual membership fee is a fee charged for the issuance of a credit card and the various services offered by a credit card company. The annual membership fee is charged every year, starting in the month of issuance.
Business hours
  • Business hours: Mon. ~ Fri., 9:00am~4:00pm
  • Bank ATMs: You can use them at any time outside the following time slot: 10:00 PM ~ 8:00 AM.

For Further Information, please refer to following website


Postal Services

You should go to the post office when using nonstandard envelopes or postcards. The Express Mail Service is provided by Korea Post under special agreements with the postal authorities of other countries.

The service will deliver your urgent letters, documents and parcels to another country by the safest available method.

  • Please attach a sheet containing the following information on the wrap of the mail: the names, addresses, and phone numbers of the sender and the recipient; a description of the contents, their value and quantity.
  • Postage charges vary, depending on the type and weight of the contents. Please consult the Korea Post home page or a post office in your neighborhood for more details.
  • Concerning the status of delivery of your international postal express mail (EMS) and registered mail, please check it with the Korea Post Call Center.


Besides post offices, other shipping firms like DHL, Federal Express, UPS, Hanjin Shipping Company, and EMS also provide overseas mailing services

Post Office
DML Korea
FedEx Express
Hanjin Shipping Company


The high-speed Internet has spread rapidly throughout Korea, one of the world’s most internet savvy countries. Most households now have access to high-speed internet services.

Internet Major companies, Use of service
Major companies
Use of service
  • Wired internet service : You need wired equipment.
  • Wireless internet service: You need wired and wireless equipment.

Internet Café (PC Bang)

Demand for the Internet has led to proliferation of the so-called PC Bangs or Internet Cafés, which are readily available in almost every major city or town nationwide. At any of these commercial establishments you can send e-mails, surf the Web, draw up and print documents, all for a very reasonable price.

User fees range from 1,000 won to 1,500 won an hour.

Sometimes they can be cheaper during the evenings or with a membership card.

Mobile phones

The cell phone has become an essential device for most Koreans. Mobile telecom businesses vie with each other, offering diverse services, including the transmission of moving visual images and short messages. Nowadays, smart phones are rapidly becoming an essential feature of everyday life in Korea.

Mobile phones Major companies, Required Documents
Major companies
Required Documents
  • Passport or foreign registration card
  • You (or your agent) need(s) to pay a visit to a store representing one of the above-said telecom business and present your ID.


To install a phone at your home or office, please buy a phone and call 100. You will need to present your passport and a copy of your alien registration certificate. The installation charge comes to about 60,000 won, while the basic monthly fee is 5,200 won.

International Calls

Four telecom businesses offer international call services with different call charges. You need to consult their home pages to view the details of their call charges.
They offer discounts (30-50%) on call charges in the following time slots: early morning (before 8:00am); late night (after 9:00pm), and on public holidays.

International Calls
SK Telecom 00700 International Call Service www.sktelink.co.kr
KT 001 International Call Service www.kt001.co.kr
Onse 00365 International Call Service www.00365.net
LG U+ 002 International Call Service www.002v.com

Cable TV

Subscription to cable TV gives you access to more than 50 channels.

Cable TV Channel Genre, Required Documents
Channel Genre
  • Movies, dramas, sports, games, news, information, entertainment, local information, home shopping, children, music, hobbies, everyday life, documentaries, women/household matters, education, religion
  • Local TV broadcast programs and satellite TV programs of the United States, China, Japan, and Europe
Required Documents
  • Alien registration certificate and bankbook (and a copy of your passport for GIRO-based monthly payment of fees)

*  For further details, please contact your local cable TV station


Korea Cable Television & Telecommunications Association Website
HCN hcn.co.kr 070-8100-0300
T-broad www.tbroad.com 070-8177-0009
CJ HelloVision www.cjhellovision.com +82-51-1544-1003

Satellite TV

Satellite broadcasting refers to the transmission of TV and PCM programs via a broadcasting satellite (BS). BS viewers can watch channels from all over the world that are not available on Korean terrestrial channels. You can view the programs at your convenience after recording them.

  • Satellite broadcast available in Korea: SkyLife
Satellite TV
SKYLIFE http://www.skylife.co.kr/eng 82-1588-3002
  • Good picture and sound quality based on digital technology; hundreds of channels; even quality regardless of the location.
  • Data broadcast service via interactive communication; professional audio channel service.
  • Monthly rates vary depending on the satellite TV providers, products selected and terms of contract.
  • In addition to the monthly rates, you will need to pay for the receiver, antenna and installation.