How to Open a Foreign Bank Account

Guide to Opening a Bank Account in Korea for Foreigners. Required Documents: Alien Registration Card (mandatory), passport, proof of residence address (required by some banks). If you are staying short-term within 90 days of entry, account opening may be rejected. Recommended Banks: Kakao Bank – app-based, relatively easy for foreigners to open. English support. Shinhan Bank – operates a dedicated foreign customer counter, English and Chinese consultation available. Industrial Bank of Korea (IBK) – actively helps foreign workers open accounts. Account Opening Procedure: Visit a bank branch directly during business hours (reservation recommended). Account issuance on the same day after document submission. You can also apply for a debit card at the same time. Alternatives to Using an Account: Wise Card – international