💰 Money & Banking

Korea is practically cashless — you need a Korean bank account for everything. Here's how to set up your finances from scratch.

Opening a Korean Bank Account as a Foreigner

Which bank to choose (KEB Hana, Woori, Shinhan), documents needed, the 6-month restriction rule, and how to get full banking access fast.

Income tax rates, year-end settlement (연말정산), the 19% flat rate option for foreigners, filing deadlines, and tax treaty benefits.

Mandatory enrollment, monthly costs, what's covered, how to use it at hospitals, and the difference between NHIS and private insurance.

Compare Wise, SentBe, bank wire — fees, exchange rates, limits, and the tax reporting requirement for large transfers.

How to get your pension contributions back when leaving Korea. Which nationalities qualify, how to apply, and typical processing time.