Money
KakaoBank Introduces Five-Minute App-Based Account Opening for Foreign Residents
· Reviewed by the editor
KakaoBank launched a dedicated foreign resident service on October 12, allowing non-Korean nationals living in Korea to open digital bank accounts within five minutes entirely via its smartphone app. The service waives domestic transfer fees and ATM withdrawal charges identically to accounts held by Korean nationals, and integrates foreign remittances and digital visa certificate issuance. Dedicated savings and open-banking capabilities for foreign account holders are scheduled to roll out next year.
So what
Download the KakaoBank app to set up an everyday checking account and debit card without having to visit a traditional brick-and-mortar bank counter.
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