As a foreign resident, you can send up to USD 50,000 a year abroad from Korea without showing where the money came from. To send more, you prove it’s your own income, for example with payslips or a tax receipt, and the bank lets you send up to that amount. The limit counts every bank and app together.
Key facts
| Law | Foreign Exchange Transactions Act (외국환거래법) |
| Without documents | Up to USD 50,000 a year for foreign residents (USD 100,000 for Korean residents) |
| With documents | Up to the amount your income documents prove |
| What counts | Transfers by all banks and remittance apps combined, plus some card use abroad |
| Carrying cash out | Declare to customs if you carry more than USD 10,000 |
| Bring | ARC, passport, and income documents for larger amounts |
How the limit works
Korea tracks overseas transfers per person, not per bank. Since 2026 the Bank of Korea’s integrated system (ORIS, 해외송금 통합관리시스템) adds up what you send through banks, card companies, securities firms and licensed remittance apps. Splitting transfers between several apps doesn’t give you a bigger allowance.
- Up to USD 50,000 a year (1 January to 31 December): no documents needed. According to KB Kookmin Bank’s guidance for foreign workers, this limit also includes deposits into your own foreign-currency account and card spending abroad.
- Above USD 50,000: send your Korean income as “domestic remuneration” (국내보수 송금). You show documents proving your earnings, and you can send up to that amount.
- Designated bank (거래외국환은행 지정): banks ask foreign residents sending salary to register one bank for these transfers. Ask your bank how it applies the 2026 system to you, because practice has been changing.
Documents that prove your income
- Payslips (급여명세서) or an employment certificate from your employer
- Your withholding receipt (근로소득 원천징수영수증) or a certificate of income (소득금액증명) and tax payment certificate (납세증명서) from Hometax
- For other money: a severance pay statement, a pension refund notice, an insurance payout statement, or a lease and deposit return receipt
Get your withholding receipt and tax certificates before your last day at work. They're much harder to obtain once you've left Korea.
Ways to send money
| Option | Good for | Watch for |
|---|---|---|
| Bank wire (SWIFT) from your bank’s app or branch | Large amounts, salary transfers with documents, any country | Sending fee, middle-bank fees and the exchange-rate margin |
| Licensed small-sum remittance companies (소액해외송금업) | Regular monthly transfers home, often cheaper | They count toward the same annual limit and have their own per-transfer caps |
| Cash pickup services (e.g. Western Union through banks) | Family without a bank account | Usually the highest total cost |
Compare the total cost: the fee plus the gap between the rate you get and the market rate. A “free” transfer with a poor rate can cost more than a paid one. Use only companies registered with the Korean government, and never pay an unregistered agent (“hwanchigi”, 환치기) to move money. That’s illegal and you can lose the money.
You’ll need a Korean bank account with your ARC to use most apps. See opening a bank account. New apps usually check your identity with a phone in your own name, so see phone and identity verification if sign-up fails.
Leaving Korea for good
Large sums usually come at the end of your stay: severance, a pension refund and your housing deposit. Plan how to move them:
- Severance and final pay: send them with your income documents before you leave, or keep your Korean account open long enough to receive them. Read the severance pay guide.
- Pension refund: the National Pension Service can pay it to an overseas account, or in cash in a foreign currency at Incheon Airport on your departure day. See the pension refund guide.
- Housing deposit: get it back before your departure date if you can. A deposit return receipt and your lease show the bank where the money came from. See protecting your rental deposit.
- Carrying cash: if you carry more than USD 10,000 in cash and other means of payment combined when leaving, you must declare it to customs. Undeclared amounts can be fined or seized.
Banks may limit what a departing foreigner can do once the ARC expires, so finish big transfers while your residence card is still valid. The leaving Korea checklist covers the order of steps.
You've already sent USD 30,000 home this year and now want to send your savings before leaving. Anything above another USD 20,000 would go over the undocumented limit, so take your withholding receipts and payslips to the bank and send the whole amount as domestic remuneration instead.
Common questions
Is there a limit per transfer?
Banks and remittance companies set their own per-transfer limits, often a few thousand US dollars for app transfers without documents. Check the limit in your app before sending a large amount.
Do I pay tax on money I send home?
Sending money is not taxed. The money was already taxed as income. But if you’ve lived in Korea more than 5 of the last 10 years, your foreign income is taxed in Korea too; see income tax for foreigners.
Can someone else send money from my account after I leave?
Not on your behalf without proper authorization, and banks often restrict accounts of foreigners whose stay has ended. Close or move your money before you go.
What happens if I go over the limit by mistake?
The bank or app will usually block the transfer. Sending above the limit without documents is your responsibility, so check your annual total in your bank app before large transfers.
Official sources
This guide explains the general rules as of the date above. Rules change and every case is different, so confirm with the office named here (or the 1345 Immigration Contact Center) before an important decision. Spotted something out of date? Tell us.