How can I send money home from Korea legally?

Question

Accepted Answer

You can remit up to **USD 100,000** per year without extra paperwork (larger amounts need additional documents), and you may exchange up to **USD 10,000** in a single purchase of foreign currency if you have no prior foreign‑currency sales record; keep the bank slip as proof. Full details below.

**Details**

**Remittance limit** – Up to **USD 100,000** annually can be sent abroad by foreigners without needing extra documentation; amounts above require additional papers such as bank statements or source‑of‑funds proof【1†L1-L2】【3†L31-L36】.

**One‑time foreign‑currency purchase limit** – If you have no record of previously selling foreign currency, you may buy up to **USD 10,000** for travel expenses (or for overseas remittance) by presenting your passport【1†L1-L2】【2†L6-L9】.

**Required documents** – Bring your passport, alien registration (or residence) card, and proof of transaction purpose (e.g., employment contract, receipt) when you go to the bank【1†L3-L4】【2†L13-L15】.

**How to send** – 
1. Visit a bank branch (e.g., KEB Hana Bank 1599‑1111, Woori Bank 1588‑5000).【1†L1-L2】 
2. Fill out the telegraphic transfer form with recipient’s name, address, bank, account number, and amount.【1†L2-L3】 
3. Submit the required ID and purpose documents; keep the issued slip as evidence【1†L3-L4】.

**Tips** – Use internet banking for better exchange rates【1†L4】. If sending over **USD 100,000** in a year, be ready to provide additional documentation such as source‑of‑funds proof【1†L4-L5】.

**Hotlines for help** – **132** Legal Aid, **1350** Labor/Employment (for work‑related remittance questions), and bank‑specific helplines (KEB Hana 1599‑1111, Woori 1588‑5000).