Questions & Answers
Category:Banking
Is it difficult to open a bank account in Korea?
In most banks, if you can find an English-speaking employee, they will take you through the process and fill in the forms for you. They will want some basic information, including your address and telephone number and will take a copy of your passport and alien registration card (if you have one). Make sure you keep a copy of these even if you replace them with new versions later as the bank will ask for them each time you make any changes regarding your account, if you need a new ATM card, etc. It’s a good idea, to go to the bank with your news passport and a copy of the old one so that they can update your file right away.
For more details, click on the Daily Life tab and then on Banking, Money Matters.
October 2007 update: An alien registration is now required and you may not be allowed to open the account until you have had your visa for at least 3 months. You may also be required to wait another 3 months before you are issued an ATM card.
2010 Update: While the 3-month wait period is still the case in some banks with some foreign nationals, it does not apply to everyone all the time in all banks.
K4E Editor's Note: Korea4Expats.com wants to provide you with as complete and accurate information as possible, so should you find any errors or omissions in the contents above please let us know at info@korea4expats.com.
- Is it difficult to open a bank account in Korea?
- Do I need to have an alien registration card to open a bank account in Korea?
- Do I have access to my Korean bank account when I am outside the country?
- Can I cash a foreign check in Korea?
- How do Korean checks work?
- Are bank checks exactly like cash?
- Why does Korean money stop at 50,000 KW?
- I don't speak Korean. How can I use the ATM?
- Can I access my home country account from a Korean ATM?
- Is there a difference in the service charges applied to teller and ATM transactions?
- Can I have more than one bank account in Korea?
- Some ATMs say 'Cash' 'Check' 'Cash/Cheque'? What do these options mean?
- Why can't I use the ATMs at night?
Children/Families
- Where can I find a pediatrician?
- I've heard that there are childcare subsidies for working mothers? As a foreign worker, am I entitled to these?
- Our children are pre-school age. Is there anything for them to do in Seoul?
- I'm a foreigner working in Korea. Am I entitled to maternity leave?
- How much should I pay for a nanny or maid?
- What childcare options are available in Korea?
Communication Services
- Can I bring my mobile phone to Korea?
- Is it true that there will be on-line etiquette programs in Korea?
- I've heard that it can be difficult to get phone service in Korea if you're a foreigner. Is that true?
- Pre-paid cell phone cards are very costly. Why can't I get regular mobile service?
- Why do I have to go and re-register my cell phone every 3 months?
- I would like to switch phones. Will this cost me a lot?
- How can I forward calls from my landline to my cell phone?
Culture
Driving in Korea
- Can I use my driver's license in Korea?
- Are there any reasonably priced parking lots in the downtown (City Hall) area where one can occasionally park a car for the day?
- What is the minimum driving age in Korea?
- How can I find out where my car has been towed?
- Can I make a left turn on an amber/yellow light?
- On what side of the road do Koreans drive?
- I've heard about an alternate-day-driving program. What is that?
- How do I get rid of my car if it's too old to sell?
- How can I find out if there are any outstanding fines on my car?
Food Eating
General Info
- Are foreign residents allowed to buy property in Korea?
- Is it possible to rent a post office box in Seoul?
- I understand that the post office supplies boxes for mailing stuff home?
- Why does my house have two different numbers?
- What's the purpose of the raised circles and bars on the floors of the subway stations and on sidewalks?
- Why do Koreans walk on the left (sometimes) and drive on the right?
- Are there rules about where one stands on an escalator?
- Why can't foreign residents order on-line even with their alien registration numbers?
- Why do we have to put the area code for a local number when dialing from a mobile phone?
- Why do the police drive with their lights flashing?
- What are digital, set or magic perms? And what's a danbaekjil pama?
- Why do we see so many Xmas trees still up in February?
- Can pets get H1N1 test/vaccine in Korea?
- When I’m throwing trash out, I was told to use a specific plastic bag. Where can I find them?
Getting Around
- What's the difference between the grey and black and orange taxies in Seoul?
- I don't always want to hail a taxi on the street. Can I call for one?
- How can I know which bus to take?
- Where can I get information on the subway system?
- Can you mail items from Korea using padded envelopes? If so, where can you get them?
- Why are there steps or arrows painted on the subway platforms and stairs.
- Why don't people pull over when they hear an ambulance siren?
- Why should I always get a taxi receipt?
- Why do I have to pay more if I get on a taxi late at night?
- I don't understand Korean. Can I use the QR codes at Seoul's bus stops?
- How do I know a taxi is a legal one and not a pirate?
- How do I get a refund on the balance remaining on my T-money card?
Government Regs
- How old do you have to be to buy cigarettes in Korea?
- I understand Koreans smoke a lot. Can we smoke everywhere?
- Why aren't garbage bags put in trash cans before they are put out on the street?
- Where can I find the postal code/zip code for addresses in Korea?
- What is this new address system we keep hearing about?
Health
Immigration
Money Matters
- How do I pay my utility bills?
- I know that I have to file an annual tax return in Korea, but how can I do it when I don't speak or read Korean?
- Why is it when I click on to the English functions of the ATM, there's often a step that's in Korea only
- Why can't I use my Korean ATM card to access my account from outside Korea?
- Are Expat seniors (65+) eligible for same discounts as Koreans?
- Are there any banks that operate for 24 hours?
Networking/Socialising
Security
- I understand that Korea is very safe but is it safe to use the ATMs at night?
- I've heard that there are attack drills in Seoul where traffic stops and everyone goes indoors. Is this true?
- Is Korea a dangerous place to live?
- How can I find the police station nearest to my home?
- What can I do if forget something in a taxi?
- What are the stats regarding sex crimes and foreign nationals in Korea?
- We keep hearing and reading about foreign teachers arrested for drug use. What are the stats?
Shopping
- Is lactose-free milk available in Seoul?
- Can I use my COSTCO membership card in Korea?
- How hard should we haggle/bargain when shopping in Korea?
- I need to have the tank on my BBQ grill re-filled. How can I do that?
- Is there any place where I can donate stuff we don't wear, but that is in good condition?
- Can non-Koreans shop at second-hand stores?
- Is it possible to get Xmas trees in Seoul?
Thing to Do
Travel in Korea
-
Business and Networking Associations
Asia Society Korea Center, Seoul -
Doctors, Hospitals, Intl Clinics
UBA Plastic Surgery and Women's Health Clinic, Gangnam, Seoul -
Fitness and Sports
New York Wholistic Care - Pilates, Massage and Iridology in Itaewon -
Schools Nursery to University
TEFL Worldwide Prague - TEFL/TESOL Certificate Programme -
Restaurants, Coffee Shops, etc.
International Café Huh -
Doctors, Hospitals, Intl Clinics
Grand Plastic Surgery, Cosmetic Surgery-Dermatology, Apgujeong, Seoul -
Alternative Health Care ex. Anti-Aging, Chiropractor, etc.
Chiro Song Clinic, Chiropractic and Medical Care, Gangnam, Seoul -
Banks and Finance Services
KEB - FDI, FIE and Corporate Banking Services for Foreign Investors in Korea
Last Posts On Forums
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