Opening a Korean Bank Account as a Foreigner

• ARC. Alien Registration Card (most banks require it)
• Passport
• Korean phone number. Often required for mobile banking OTP
• Proof of address. Sometimes requested for certain account types
• University ID or employment proof. For student or work visa holders at some branches

Shinhan, KB (Kookmin), Woori, and Hana have branches nationwide. Some locations near universities have English-speaking staff. KakaoBank and TOSS are app-first, eligibility for foreigners varies; branch banks remain the most reliable for new ARC holders.

1. Visit a branch with documents (call ahead to confirm foreigner account hours)
2. Complete application forms, name must match passport and ARC exactly
3. Set up internet banking and receive debit card (often same day or mailed)
4. Register mobile OTP app for transfers and payments

• Open an account soon after receiving your ARC, delays complicate employment and housing
• Bring a Korean-speaking friend for smoother communication at smaller branches
• Ask about international transfer limits and fees if you send money home regularly