Financial services

Understanding Foreign Remittance Rules and Banking System in Korea

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Understanding Foreign Remittance Rules and Banking System in Korea Foreign Nationals’ Remittance Regulations When living and working abroad, understanding financial regulations is crucial. Korea has specific rules for foreign nationals sending money overseas. You can transfer up to $50,000 annually without extensive documentation proving your funds’ origin. This makes everyday transactions relatively straightforward for expats … Read more

Korean Banks Target 2.7 Million Foreign Residents as New Growth Market

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Korean Banks Target 2.7 Million Foreign Residents as New Growth Market Korean banks are turning their attention to the country’s growing foreign resident population as they search for new opportunities beyond the saturated domestic market. With over 2.1 million foreign residents now living in Korea, financial institutions are rolling out specialized products and services to … Read more