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When you enter Korea possessing traveler's checks over the equivalent of USD 10,000, you should declare the fact to the customs and acquire a Declaration of Foreign Exchange.
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Exchange of Traveler's Checks at KEB |
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When you exchange your traveler's checks, you need to sign your name in the "Countersign" column in the presence of a KEB teller.
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In the case of traveler's check less than the equivalent USD 20,000, visit the nearest KEB branch with your passport.
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In the case of more than the equivalent of USD 20,000, visit the nearest KEB branch with your passport/ Declaration of Foreign Exchange and submit an Application for Sale/Deposit in Accounts/Withdrawal. (If you don't have a Declaration of Foreign Exchange, you should visit the Bank of Korea and acquire a Declaration Document of trading of the means of foreign payment.)
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After exchanging your traveler's checks, keep KEB's certificate of foreign exchange purchased or receipt of foreign exchange purchased.(They might come in handy when you exchange Korean won into a foreign currency.)
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