Banking and Money in Korea: A Complete Guide for Foreign Teachers
To open a bank account in Korea, visit a bank branch with your ARC, passport, and employment contract. Best banks for foreigners: KEB Hana (English service), Shinhan, or Woori. For sending money home, use Wise (lowest fees, best rates). Set up Toss or KakaoBank for mobile banking. Pension refund is available for most nationalities when leaving Korea.
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고연봉 채용공고 확인하기Cite this article
ESL365 Editorial Team. (2026, March 20). Banking and Money in Korea: A Complete Guide for Foreign Teachers. ESL365. https://esl365.com /blog/banking-money-guide-foreign-teachers-korea
Sarah Chen
Senior ESL Consultant & TESOL Trainer
8+ years of experience
Credentials
- TESOL Certificate — Cambridge University (2016)
- CELTA — British Council (2017)
- MA in Applied Linguistics — University of Toronto (2015)
