Opening a bank account in South Korea

South Korea has been closely monitoring its own banking system for a long time. It is enough to produce an identity card in many private financial institutions and you will obtain personal settlement account within 20 minutes. State institutions adhere to a different strategy, thus the investor will need to prepare an expanded list of documents and confirm his income.

In order to improve the verification system, the bank has the right to check your sources of income. However, a high level of service and data protection is worth the efforts and expectation. It is possible to simplify the procedure by involving our legal specialists in the matter.

Law&Trust works in the sphere of international corporate law. We cover the entire territory of the world, including the CIS countries, Asia and Africa. The cost of services is low and completely depends on the client's requirements. Among the advantages of cooperation with our lawyers there are the following:

  • Full legal protection and support;

  • Guarantee of preservation of data on the beneficial owners of the company, as well as individuals, because our employees abide the privacy policy;

  • Possibility for opening accounts in many countries of the world without personal presence and interruption of one's own affairs; the client are required only to submit application and provide basic package of documents;

  • If opening of the account in South Korea takes about one month (including preparation and relocation), we guarantee the issuance of your account details within 2-3 weeks.

Which bank of South Korea is better for opening bank account?

We cooperate with Korea Exchange Bank for opening bank account in South Korea. He has a high rating in the country, so it is considered reliable. It is permitted to open multi-currency accounts for conducting financial transactions or for saving funds.

What documents are necessary to open the account in South Korea?

Detailed information about the list of documents for individuals or legal entities, the amount of maintaining bank account in South Korea, as well as the initial payment and the interest accrued can be clarified with the lawyers of our company.

Korea: list of banks
Name of the bank Account opening cost Founded
KEB Hana Bank 690 USD 1967