Korea Living

South Korea is often described as a cashless country. Koreans commonly pay for meals, coffee, shopping and taxis with cards or mobile payment apps. However, this does not mean a foreign traveler can visit Korea without any Korean won. A foreign-issued card may work perfectly at a hotel or department store but fail at a small restaurant, ticket machine or Korean online payment page. A standard physical T-money card also normally requires cash for recharging. As a local Korean guide, my practical recommendation is simple: Bring at least two physical payment cards and keep a reasonable amount of Korean won as a backup. You do not need to carry your entire travel fund in cash. You should simply avoid depending on one card, one phone or one payment method. Foreign traveler paying by credit card at a convenience store in Seoul Can You Use a Foreign Credit Card in Korea? Foreign-issued Visa, Mastercard, American Express, JCB and UnionPay cards are accepted at many establishments, pa...

  Introduction With global giants like Samsung, SK Hynix, and Hyundai leading the tech and auto industries, South Korea has become one of the most attractive markets for international investors. In 2026, the barriers for foreign individual investors have significantly dropped. Whether you are looking for long-term growth or dividend income, here is your professional guide to investing in the KOSPI and KOSDAQ from anywhere in the world. KOSPI Over 7,000 points A. Indirect Investment via ETFs (Recommended for Beginners) The simplest way to enter the Korean market without opening a local bank account is through Exchange Traded Funds (ETFs) listed on global exchanges. EWY (iShares MSCI South Korea ETF): Tracks large-cap companies. FLKR (Franklin FTSE South Korea ETF): A cost-efficient option for broad market exposure. Why this works: You can trade these in your local currency (USD, EUR, etc.) during your own time zone. KOSPI ETF B. Direct Stock Purchase: The 2026 "No-IRC...

As of my last knowledge update in September 2021, I don't have access to real-time data, and I cannot provide the most up-to-date figures for South Korea's GDP in 2023. However, I can give you an overview of South Korea's GDP and its components based on data available up to 2021. Gross Domestic Product (GDP) is the total value of all goods and services produced within a country's borders during a specific period. It is one of the essential indicators used to measure a country's economic performance. In 2021, South Korea's GDP was one of the largest in the world, and the country is considered one of the Asian economic powerhouses. The economy is highly developed and known for its technology and manufacturing sectors. Here's a breakdown of South Korea's GDP components: Services : The services sector is the largest contributor to South Korea's GDP. It includes various industries...

As a foreigner living in South Korea, you may want to get a credit card to make purchases and manage your finances. However, the process of obtaining a credit card can be confusing and difficult, especially if you're not familiar with the local banking system and regulations. In this article, we will provide you with a comprehensive guide on how to make a credit card in South Korea as a foreigner, including the requirements, documents, and procedures involved. Understand the Requirements Before you apply for a credit card, it's important to understand the requirements and eligibility criteria. To get a credit card in South Korea, you need to meet the following requirements: You must be at least 19 years old You must have a valid Alien Registration Card (ARC) You must have a steady source of income You must have a good credit score You must have a Korean bank accou...

Opening a bank account in South Korea can be a challenging process, especially for foreigners. However, it is possible to set up a bank account in South Korea as a foreigner. In this guide, we will provide you with a step-by-step process on how to make a banking account in South Korea for foreigners. Choose a Bank The first step in opening a bank account in South Korea is to choose a bank that suits your needs. There are several banks in South Korea, including KB Kookmin Bank, Shinhan Bank, Woori Bank, and Hana Bank. You can research these banks and compare their account fees, services, and benefits to select the bank that best meets your requirements. Gather Required Documents After selecting a bank, you need to gather the necessary documents to open a bank account. As a foreigner, you will need to present the followin...