Banking system in Korea is as impressive as those in Western countries, making it easy for expats to get the best banking options. Most established banks are available in Seoul, the capital of Korea. Unlike other Asian banks, some local banks in Korea are hiring interpreters for smooth business dealings.
While the excellence of the banking system in Korea is unchallenged, the procedures to undergo before opening up a bank account in Korea is rather regulated. For instance, the bank account must be opened personally by the titleholder and not through the internet. Further administrative documents such as an ID card and the application form must be brought along and completed. Certain banks also impose requirements such as a minimum staying period of three months in the country before being able to open an account. On a good note, regulations are gradually being phased out to make it easier for expats to obtain a bank account in Korea.
At Asia Expat Guides, we can help you overcome these challenges. Our team of professionals belong in the banking industry and have years of experience behind us. We can expose you to the benefits of local, foreign and international banks in Korea and allow you to structure your decisions. We are familiar with the different types of accounts that can be opened and the choices that are popular with expats. Above all, we have your sole interests at heart and can recommend the best and most suitable banks for you based on our expertise.
Can’t decide on the best bank? Asia Expat Guides is your best partner to sort out your banking and finance matters!