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

Closing your bank accounts before leaving Korea requires a few steps. Visit your bank branch in person with your passport, ARC, and bankbook (통장). Cancel any automatic transfers, subscriptions, or linked services first, including phone bills, utility payments, and app subscriptions like Coupang WOW. Check that no deposits are pending, like your housing deposit refund or final paycheck.

Before closing your account, transfer your remaining balance to your home country account through a wire transfer. Banks charge about 10,000 to 20,000 won per international transfer. You will need the receiving bank SWIFT code and your account number. Make sure to settle any outstanding credit card balances as well. If you have a Korean credit card, cancel it separately and confirm the final statement is paid. For your National Pension refund, apply at the National Pension Service before leaving, though the refund is often processed after departure and sent to your overseas bank account. Keep at least one account open until you have received all final payments and refunds. Some people close everything except one account and ask a trusted friend in Korea to help finalize it remotely if needed.