Can foreigners open a bank account in Korea?
Yes. Show a passport or Alien Registration Card and documents that explain what the account is for; we did not check the rules of individual banks. CHECKED 02 NOV 2026 Yes Source: Real Name Financial Transactions Act Art. 3(1) · Easy Law (Ministry of Government Legislation), guide for international students Open the official source ↗ Checked Nov 2, 2026 Re-check due Jan 31, 2027 Sources: Easy Law, Ministry of Government Legislation What the rule says To open an account you must show an ID such as a passport or an Alien Registration Card, and documents that prove the purpose of the financial transaction. Our summary of Easy Law's guide for international students. It cites Article 3(1) of the Real Name Financial Transactions Act and Article 5-2(1)(1) of the Act on Reporting and Using Specified Financial Transaction Information. The steps at the bank Go to a bank and take a number. When it is your turn, ask the teller to open an account or passbook. Fill in the application. It asks...