Banking
Banking in Korea, Made Clear.
Korea has a sophisticated banking system, but opening and operating a corporate account as an international business requires the right documentation, the right bank and, importantly, the right local know-how. We help you establish a banking setup that works for your business.
01 / Banking
A Modern System. With Local Complexities.
Korea's banking system is advanced and widely connected globally. At the same time, corporate account opening and ongoing banking for international businesses can involve procedures, documentation and practices that may be unfamiliar without local experience.
Corporate Banking
Domestic transfers, payroll, payments and day-to-day company banking.
Foreign Exchange
Cross-border remittances, FX transactions and foreign-currency accounts.
Digital Banking
Corporate internet banking, authentication, approval structures and user access.
Global Treasury
For larger international businesses, selected banks provide cash management, ERP connectivity and multinational treasury solutions.
02 / Banking
Not Every Bank — or Branch — Is the Same.
The right banking partner depends on your ownership structure, transaction profile, industry and how your Korean operation will be managed. We help you identify banks and branches that are experienced with foreign-invested companies and international businesses.
Foreign Investment Experience
Banks and branches familiar with FDI procedures and foreign-owned companies.
International Accessibility
English-language banking, overseas support and global transaction capabilities.
FX & Cross-Border Banking
For businesses regularly receiving or sending funds internationally.
Corporate Infrastructure
Payroll, approval controls, corporate cards, ERP integration and cash-management requirements.
03 / Banking
The Right Bank Is Only Half the Answer.
In Korea, practical banking outcomes can depend not only on the institution you choose, but also on your company structure, documentation, business activity and the branch handling the application. We help clients prepare before they walk into the bank.
Bank & Branch Selection
Identify banking options suited to your company and requirements.
Document Preparation
Help organize the corporate, shareholder and UBO information typically required by the bank.
FDI Coordination
Where applicable, coordinate banking steps alongside the foreign-investment process.
Account Opening Support
Coordinate appointments, communication and practical requirements.
Digital Banking Setup
Support with corporate internet banking, user permissions and approval structures.
Ongoing Banking Coordination
Support for additional accounts, FX, corporate cards and other operational banking needs.
04 / Banking
Prepared Before You Arrive.
We guide you through the key steps and help ensure you have the right information and documentation ready. Documents and procedures vary by bank, branch and company circumstances. We provide guidance based on the latest practical experience.
Assess
Ownership structure · Business activity · Transaction profile · FX needs
Select
Bank · Branch · Account structure
Prepare
Corporate documents · UBO information · Representative information
Open
Appointment · Verification · Account opening
Activate
Online banking setup · Authentication · FX and payments · Corporate cards
05 / Banking
Built for How Your Business Actually Operates.
From day-to-day banking to cross-border transactions, we help you set up the right banking environment for your operations in Korea.
Corporate Accounts
Foreign Currency Accounts
Cross-Border Payments
Foreign Exchange
Payroll & Payments
Corporate Cards
Online Banking
Multi-User Approvals
Cash Management
Treasury Solutions
06 / Banking
Working Across Korea’s Banking Network.
We work with major Korean banks and foreign bank branches, and help you find the right solution based on your specific circumstances. Hana Bank, Shinhan Bank, KB Kookmin Bank, Woori Bank, IBK and more. Bank selection is based on each client's circumstances and requirements. Goryeo Advisory is independent and is not affiliated with or endorsed by the banks shown above unless expressly stated otherwise.
Ready to expand?
Let’s build what’s next, together.
Whether you are entering Korea or taking your business global, Goryeo Advisory is the right partner to guide you.