Question
How do I open a bank account as a foreigner in Korea?
As of · sources retrieved from official Korean authorities
You can open a bank account by visiting any bank branch with your Alien Registration Card (resident foreigner registration certificate) and passport during business hours Mon‑Fri, 9:00 am – 4:00 pm, and the bank will issue a bankbook and cash card on the spot; full details below.
The rule this rests on
Article 27 shall not apply to a specific foreign corporation falling under any of the following cases: <Amended on Dec. 21, 2021; Dec. 31, 2022> | 1. | Where the income actually earned by a specific foreign corporation as of the end of each business year does not exceed the amount prescribed by Presidential Decree; | | 2. | Where a specific foreign corporation owns a permanent establishment, such as an office, a store, or a factory, that is required for business activities in a country or regi
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Required documents
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Alien Registration Card (resident foreigner registration certificate)
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Passport (valid)
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Where to go
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Any branch of a Korean bank (e.g., KEB Hana, Woori)
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Business hours: Mon – Fri, 9:00 am – 4:00 pm
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Procedure
- Go to the chosen bank branch and request to open an account.
- Present the Alien Registration Card and passport.
- The teller will give you a bankbook and a cash card immediately.
- Use the cash card for ATM withdrawals (available any time except 10:00 pm – 8:00 am).
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Tax & interest
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As a resident foreigner, Korean tax and interest regulations apply to your account.
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Remittance limit (if needed for overseas transfers)
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Up to USD 100,000 per year can be transferred without extra documentation.
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Helpful hotlines
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Legal aid for foreigners: 132
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Labor/workplace issues: 1350
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Multicultural/foreigner counseling: 1577‑0071.
Sources fetched 2026-09-19 · Korean laws change — verify with the issuing authority before acting.