Bank accounts and Credit Card

Opening a bank account
• Types of Bank Accounts
- Current, ordinary deposit, deposit-at-call, time deposit, and installment deposit
- Both resident and non-resident foreigners can open a bank account.
- A resident foreigner who is eligible to stay in Korea for 6 months or more.
A non-resident foreigner is one who is eligible to stay for less than 6 months.

• Tax and Interest
- For residents, both tax and interest rates are calculated under Korean law.
- For non-residents, the tax rate is based on the laws of their home country, and the interest rate is calculated under Korean law.
• Required Documents
- Passport or alien registration card
- Those wanting to open a bank account are required to visit the bank in person.


Major Korean credit card firms

Kookmin Card
(VISA, Mastarcard)
www.kookmincard.co.kr
1588-1689

Samsung Card
www.samsungcard.co.kr
02-2000-8100

LG Card
www.lgcapital.com
1544-7000

Foreign Exchange Card
www.yescard.co.kr
02-2011-6420

Hyundai Card
www.hyundaicard.com
1577-6000

BC Card
www.bccard.com
1588-4000

Shinhan Card
www.shinhancard.com
1544-8800

Woori Card
www.wooricard.com
1577-9000

Citi Card
www.citibank.com
1566-1000

Hana Card
www.hanabank.com
02-2002-1111

Korean banks

The Bank of Korea
www.bok.or.kr
02-759-4114

Kookmin Bank
www.kbstar.com
02-317-2114

Industrial Bank of Korea
www.ibk.co.kr
02-729-6114

Korea Exchange Bank
www.keb.co.kr
02-729-0114

Export-Import Bank of Korea
www.koreaexim.go.kr
02-3779-6114

Korea Development Bank
www.kdb.co.kr
02-787-7000

Chohung Bank
www.chb.co.kr
02-733-2000

Hana Bank
www.hanabank.co.kr
02-2002-1111

Woori Bank
www.wooribank.com
02-2002-3000

Hanmi Bank
www.goodbank.com
02-3455-2114

Korea First Bank
www.kfb.co.kr
02-3702-3114

National Agricultural

Cooperative Federation
www.nonghyup.com
1588-2100

National Federation of Fisheries Cooperatives
www.suhyup.co.kr
02-2240-2114

Shinhan Bank
www.shinhanbank.co.kr
02-756-0505

Busan Bank
www.pusanbank.co.kr
051-642-3300

Daegu Bank
www.daegubank.co.kr
053-756-2001

Gwangju Bank
www.kibank.com
062-239-5000

Kyongnam Bank
www.kyongnambank.co.kr
055-290-8000

Jeonbuk Bank
www.jbbank.co.kr
063-250-7114

Jeju Bank
www.chejubank.co.kr
064-720-0200


Foreign banks

USA
JP Morgan Chase Bank
02-758-5114

CitiBank, N.A.
02-2004-1760 / 1114

Bank One, N.A.
02-316-9700

American Express Bank
02-399-2980

Bank of America National Association
02-729-4500

Union Bank of California, N.A.
02-721-1720

The Bank of New York
02-399-0001~6

State Street Bank and Trust Company
02-3706-4500

United Kingdom

Standard Chartered Bank
02-750-6114

HSBC (The Hongkong and Shanghai Banking Corp.)
02-2004-0000

Barclays Bank PLC
02-2126-2700

United Overseas Bank
02-739-3916~9

Australia
Nation Australia Bank
02-3705-4600

Australia and New Zealand Banking Group Ltd.
02-730-3151~60

Canada
The Bank of Nova Scotia
02-757-7171

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