To open an account, passport number, foreigner's registration number, identification card number and a registered seal is required. Opening an account through a proxy is also possible.
Account can be established right after requesting one. Drawing money from the account requires a bankbook and registered seal, or an ATM card, which can be obtained by simple application.
Bank credit card and cash card can be used with ATMs. To use a bank credit card, you need to borrow money and pay fixed interest rate and with the cash card, you can use your own money within your bank account.
Available services with ATM are as follow: confirming remaining cash balance, cash withdrawal, borrowing cash (The limited amount is defined according to the agreement with credit card company), and cash transfer.
To withdraw money from ATM, insert the card into the machine first, then select the type of service, input the secret code (generally, four-digit numbers) and specify the amount of money you wish to withdrawal.
You need to have an ID (passport or Certificate of Alien Registration) to exchange foreign currency into Korean won.