Main Types of Bank Accounts in South Korea

Here is a guide on the types of bank account you can open in Korea. Discover more about them in our article https://companyformationkorea.com/open-a-bank-account-in-korea/.

1. Types of Bank Accounts
in South Korea
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2. Here are the main types of Korean bank
accounts:
personal;
corporate;
savings;
merchant.
Types of Accounts

3. Also known as current bank
accounts, they can be set up by
natural persons for daily operations.
Personal Accounts

4. Korean companies can also set up bank
accounts for their financial operations
and transactions.
Corporate Accounts

5. These types of Korean bank accounts can
be set up to save money and have the
interest granted by the bank as a main
advantage.
Savings Accounts

6. They are bank accounts created
for the operations of e-commerce
companies in South Korea.
Merchant Accounts

7. Foreign citizens can set up any type of
account, as long as long as they have
residency in Korea.
Options for Foreign
Citizens

8. Setting up a bank account in Korea
requires the preparation of various
documents, among which a local address
is essential.
Opening Requirements

9. Our Korean company formation agents
are at your disposal if you need
assistance in setting up a local account.
Bank Account Opening
Services

10. Thank You for Your Attention!
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