South Korea is one of Asia’s largest outbound remittance markets, anchored by hundreds of thousands of foreign workers admitted under the Employment Permit System (EPS) and the broader E-9, H-2, F-2, F-4, F-5 and F-6 visa categories. Annual outbound flows are dominated by remittances to Vietnam, the Philippines, Thailand, Indonesia, Cambodia, Nepal, Sri Lanka, Bangladesh, Myanmar, Mongolia, Uzbekistan, Pakistan and China. For 2026 the Korean government set the EPS quota at 80,000 workers (down from 130,000 in 2024–2025), reflecting tighter labour-market matching. Major cities including Seoul, Busan, Incheon, Daegu, Daejeon, Gwangju, Suwon, Ulsan, Changwon, Goyang, Yongin and Ansan host the densest networks of remittance agents and ethnic financial corridors. Effective January 2026, the Overseas Remittance Integrated System (ORIS) enforces a unified USD 100,000 annual outward remittance ceiling per individual across all banks and small-amount foreign-exchange operators, with a USD 5,000 per-transaction cap for transfers above the simplified threshold.
Money Transfer Locations
Western Union
Western Union operates in South Korea through partnerships with KB Kookmin Bank, Woori Bank, Shinhan Bank, NH NongHyup Bank, Hana Bank, Industrial Bank of Korea (IBK), KEB Hana and selected Korea Post (Uche-guk) offices.
- Western Union Seoul
- Western Union Busan
- Western Union Incheon
- Western Union Daegu
- Western Union Daejeon
- Western Union Gwangju
- Western Union Suwon
- Western Union Ulsan
- Western Union Changwon
- Western Union Ansan
- Western Union Goyang
- Western Union Yongin
MoneyGram
MoneyGram is available through licensed Korean banks and small-amount foreign-exchange operators, with strong corridors for South and Southeast Asia.
- MoneyGram Seoul
- MoneyGram Busan
- MoneyGram Incheon
- MoneyGram Daegu
- MoneyGram Ansan
- MoneyGram Suwon
Ria Money Transfer
- Ria Seoul
- Ria Busan
- Ria Incheon
- Ria Ansan
Digital & Small-Amount Foreign-Exchange Providers
FSC-licensed Small-Amount Foreign-Exchange Brokerage (SAFEB) providers dominate the South Korea-to-Asia digital remittance market in 2026 and are the most popular channel for EPS workers:
- Sentbe — Korea’s largest digital remittance app, strong Vietnam, Philippines, Thailand and Indonesia corridors
- GME Remittance — Popular with EPS workers from Nepal, Sri Lanka, Bangladesh, Myanmar and Cambodia
- Hanpass — Mobile-first transfers to Vietnam, the Philippines, Thailand, Indonesia and Nepal
- Cross Enf (CrossWay) — Licensed SAFEB operator across Asia corridors
- e9pay — Strong corridors into Southeast and South Asia
- Coinone Transfer (Cross) — Blockchain-based settlement for selected corridors
- Wise — Available to South Korean residents with verified accounts
Major Bank & Financial Partners
Korean banks handle SWIFT wires, salary disbursements for EPS and skilled-visa workers, and corporate remittances:
- KB Kookmin Bank
- Woori Bank
- Shinhan Bank
- Hana Bank (KEB Hana)
- NH NongHyup Bank
- Industrial Bank of Korea (IBK)
- Korea Development Bank (KDB)
- Citibank Korea
- Standard Chartered Korea (SC Korea)
- Korea Post (Uche-guk) banking services
Regulator
All banks, Small-Amount Foreign-Exchange Brokerage (SAFEB) operators and money transfer providers in South Korea are licensed and supervised by the Financial Services Commission (FSC) and its operational arm the Financial Supervisory Service (FSS), with foreign-exchange transactions ultimately overseen by the Bank of Korea (BOK). The Foreign Exchange Transactions Act and its 2026 Overseas Remittance Integrated System (ORIS) impose unified KYC, transaction-monitoring and annual-limit rules across every licensed channel. Always confirm your provider holds a current FSC licence before sending funds.
Frequently Asked Questions
How can EPS and foreign workers in South Korea send money home?
Foreign workers in South Korea — whether from Vietnam, the Philippines, Thailand, Indonesia, Nepal, Sri Lanka, Bangladesh, Cambodia, Myanmar, Mongolia, Uzbekistan, Pakistan or elsewhere — can send money home through FSC-licensed banks (KB Kookmin, Woori, Shinhan, Hana, NongHyup, IBK) and Small-Amount Foreign-Exchange Brokerage (SAFEB) apps such as Sentbe, GME Remittance, Hanpass, Cross Enf, e9pay and Wise. Western Union, MoneyGram and Ria operate through bank and Korea Post partner counters in every major city.
What is the 2026 ORIS USD 100,000 annual remittance limit?
From January 2026 the Overseas Remittance Integrated System (ORIS) enforces a unified USD 100,000 annual outward remittance ceiling per individual across all Korean banks and SAFEB operators combined. The previous bank-by-bank and platform-by-platform separate limits have been merged into a single annual cap. A USD 5,000 per-transaction cap also applies for transfers above the simplified-documentation threshold. EPS workers remitting earned salary remain entitled to send their full take-home pay within the annual cap.
How long does an international money transfer from South Korea take?
Most SAFEB app transfers (Sentbe, GME, Hanpass, e9pay) arrive within minutes to bank accounts and e-wallets in Vietnam, the Philippines, Thailand, Indonesia, Nepal and Sri Lanka. Cash pickup via Western Union, MoneyGram or Ria also settles in minutes. Bank-to-bank SWIFT wires from KB, Woori, Shinhan, Hana, NongHyup or IBK take 1–3 business days. Korean public holidays and weekends may add one banking day.
What ID is required to send money from South Korea?
Senders must present a valid Alien Registration Card (ARC, 외국인등록증) for foreign residents or a Korean ID card for citizens. EPS workers must also be on an active E-9, H-2 or equivalent visa. Under the 2026 ORIS rules, simplified-documentation transfers under the per-transaction threshold require ID and bank-account verification only; transfers above the threshold trigger source-of-funds documentation such as a salary pay slip, employment contract or tax record. Recipients abroad must present ID matching the name on the transfer and the reference or MTCN number.
How are South Korea’s money transfer providers regulated?
All banks and Small-Amount Foreign-Exchange Brokerage (SAFEB) operators in South Korea are licensed by the Financial Services Commission (FSC) and supervised by the Financial Supervisory Service (FSS). Foreign-exchange transactions are governed by the Foreign Exchange Transactions Act and operationally overseen by the Bank of Korea (BOK). The January 2026 ORIS rollout consolidated KYC, transaction monitoring and annual-limit reporting into a single nationwide system. Verify any SAFEB or bank licence on the FSS Financial Consumer Information Portal (fine.fss.or.kr) before sending funds.