• Subscriber qualification
  • Resident
    However, the individual foreigner resident, workers and their families of Korean embassies and legations abroad will be excluded.
• Characteristics of the deposit

  When depositing	You can deposit foreign currency holdings and foreign currency purchased with KRW.
  When selling	No restrictions apply to selling but payment to a foreign country and foreign currency transfer from Korea as a non-resident (including foreigner resident) is allowed for the recognized transaction only. If the same person withdraw more than USD 10,000 on the same day as foreign currency or traveler’s check, the transaction detail will be notified to the National Tax Service.

If the resident wants to make a foreign currency deposit transaction with a foreign financial institute, the foreign exchange bank should be designated and reported. When remitting the deposit fund from Korea, a remittance should be made via the designated foreign exchange bank.

• Documents to submit
  • Deposit transaction report
  • Certified copy of the register (for corporate)
  • Documents that can prove the identity an institutional investor (for an institutional investor)
• Items to submit to the governor of the Bank of Korea
  • Deposit transaction report
  • If the resident other than an institutional investor, person who exported/imported more than USD 5 million in the previous year, overseas builder qualified by the Overseas Construction Promotion Act, domestic airline or vessel company operating on a foreign route, and seagoing fisherman deposit the money more than USD 50,000 per transaction, which was remitted from Korea.