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Non-residents can open Korean won deposits for the following purposes:
1) Withdrawal of Korean won after depositing Korean won acquired in Korea
2) Overseas remittance of only interest income from Korean won accounts |
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Ordinary deposits, current deposits, savings deposits and time deposits |
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The fund eligible for Korean won deposits is limited to Korean won acquired in Korea. |
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Withdrawal of money in Korean won |
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Overseas remittance of interest income from Korean won deposits for non-residents
(¡Ø Remittance of principal is not allowed.) |
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Interest income allowed for overseas remittance |
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Interest accrued from current and ordinary deposits |
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Interest accrued from time deposits (including reapplied ones) |
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Interest accrued from saving deposits accrued from the opening day irregardless of the number of receipt and withdrawal |
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Time of investment income remittance |
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Documents required for investment income remittance |
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An application for payment (KEB form) |
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A passport |
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Documents including a copy of a deposit bankbook with an account number and records of interest paid |
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Non-resident Korean won deposits only for an equities investment purpose |
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Non-residents should open non-resident Korean won deposits only for a stock investment purpose to invest in Korean securities according to the Securities Transactions Act. |
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Funds eligible for deposit |
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Funds acquired from sell-off, settlement and dividend of securities, CDS and RPs according to the Securities Transactions Act |
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Funds transferred from other non-resident Korean won deposits only for an equities investment purpose and Korean won account for non-residents in your own name |
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Down payment for entrust regarding stock trading? |
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Disposal of deposits |
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Transfer to foreign account only for equities investment |
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Payment of funds for the purchase of securities, CDs and RPs according to the Securities Transactions Act? |
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Transfer to other Korean won deposits for non-residents only for an equities investment purpose and Korean won accounts for non-residents in your own name |
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Disposal of deposits |
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