How do I open a bank account in Korea as a foreigner?

As a 개인사업자 you can set up monthly tax prepayments through the National Tax Service HomeTax system at hometax.go.kr. Log in with your business certificate, go to the tax payment section, and you can find the virtual bank account number assigned to your business for making interim tax payments. The system is called 중간예납 for income tax, and you can also pay VAT quarterly.

If navigating HomeTax in Korean is difficult, you can visit your local 세무서 (district tax office) in person and ask them to help set up monthly payments. They will give you the specific bank account details and payment schedule. Another option is to hire a 세무사 (tax accountant) who can handle all of this for you. Many tax accountants charge around 100,000 to 200,000 won per month for basic bookkeeping and tax filing for sole proprietors, and some speak English.