Business · Companies · 5 hrs ago
KakaoBank launches mobile banking services for foreign residents in South Korea
KakaoBank has launched banking services for foreign residents in South Korea through its existing mobile app.
The service is aimed at adults from more than 200 nationalities and includes accounts, debit cards and international transfers.
Customers who do not need extra checks may be able to open an account in about five minutes, though verification or review can take longer.
The bank says it will also offer fee-free transfers and ATM withdrawals, and let customers get certain documents through the app.
The launch comes as South Korea’s foreign-resident population grows, increasing demand for services such as salary management and sending money abroad.
Other banks are also developing mobile services for foreign customers.
KakaoBank plans to add savings products, open banking and loan comparisons next year, and expand language support to seven languages.
KakaoBank has launched mobile banking services for foreign residents in South Korea, including account opening, debit cards and overseas transfers.
Eligible customers can apply for an account through the app, with some accounts opened in about five minutes if no further review is needed.
The service is available to foreign residents aged 19 or older from more than 200 nationalities.
Customers can use the bank’s app for transfers to about 200 countries and territories, in around 50 currencies.
KakaoBank plans to add savings, open banking and loan-comparison services next year.
- Who
- KakaoBank and foreign residents in South Korea.
- What
- KakaoBank launched mobile services for account opening, debit cards, overseas transfers and multilingual banking.
- When
- October 12, 2026.
- Where
- South Korea, through the KakaoBank app.
- Why
- The bank aims to extend its digital banking services to foreign customers as the foreign-resident population and demand for everyday financial services grow.
This story does not have two clearly opposing sides.
국내 고객이 누려온 편리한 금융과 혜택을 외국인 고객에게도 동일하게 제공하는 것이 목표
앞으로도 상품 포트폴리오를 꾸준히 확장하며 외국인이 가장 많이 찾는 금융 플랫폼이 되겠다
South Korea had 2,783,247 foreign residents, up 5.0% from the previous year, according to the Justice Ministry.
KakaoBank held a press event and announced its services for foreign customers.
KakaoBank plans to add a debit card that can be used for overseas payments.
KakaoBank plans to add savings, open banking and loan-comparison services and expand language support to seven languages.
- Eligible customers
- Foreign residents aged 19 or older from more than 200 nationalities
- Account opening
- About five minutes when no additional review is required
- International transfers
- About 200 countries and territories; around 50 currencies
- Long-term foreign residents
- 2,159,052 at the end of last year
- Languages planned
- Seven languages next year
Sources
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