How to transfer money out of Korea legally in 2026

Money leaves Korea along routes set by the Foreign Exchange Transaction Regulation. A resident sends up to $100,000 a year without supporting documents, an emigrant takes out the full sum confirmed by the tax office, a foreigner working in Korea sends salary home with an income certificate, and the proceeds of a flat sale go abroad with a certificate issued within 10 days.

In detail

In 2026 money leaves South Korea along several legal routes. Which one fits depends on who you are for currency purposes (a Korean resident, an emigrant, a foreigner working in Korea, an overseas Korean) and on what the money is for. The figures below are from the Foreign Exchange Transaction Regulation of the Ministry of Economy and Finance as amended on 29 December 2025 and from the guidance of the National Tax Service.

Sending money the other way is covered in the article how to send money to South Korea.

$100,000 a year without supporting documents

A Korean resident sends up to $100,000 a year abroad without contracts or invoices. The bank only asks for the purpose of the transfer and records it. In 2026 the limit is counted across all banks and transfer services together, so a family that sends money through several apps keeps one running total per person. Capital deals abroad of up to $100,000, such as a deposit or a share purchase, count towards the same total and need no separate report.

Above $100,000 a year there are two ways. Transfers of up to $5,000 each go without papers. Larger sums go with a document that shows the bank what the payment is for and how much it is: a purchase contract, an invoice, a tuition bill, a medical bill. The limit is personal: spouses each have their own $100,000 a year.

Emigrating from Korea: the full sum by tax office certificate

A person recognised as an emigrant under the Emigration Act takes out emigration funds with no upper limit. The sum is set by the source of funds certificate issued by the tax office of the last address in Korea. The tax office checks that taxes on the money have been paid and issues the certificate within 10 days; when a site check is needed, the term is extended once by up to 20 days.

The transfer goes through one bank chosen as the designated bank. It takes:

• a passport and a visa or permanent residence card of the new country; the visa copy can be brought later;
• an emigration report confirmation or a confirmation of emigration from abroad, valid for 1 year;
• the source of funds certificate from the tax office;
• a certificate of no tax arrears, which is attached to the emigration report itself.

Before emigration is recognised, money moves as for any resident: $100,000 a year without papers, larger sums after a capital transaction report to the Bank of Korea, filed through your bank. Many families start with the yearly limit and move the main sum once the emigration confirmation is issued.

Large shareholders: tax on shares when leaving

A resident who has lived in Korea for at least 5 of the last 10 years and holds shares of Korean companies at the level of a large shareholder pays capital gains tax on those shares when moving abroad, as if they had been sold on the day of departure. The rate is 20% on taxable gains of up to 300 million won (about $224,000) and 25% above that.

• By the day before departure: appoint a tax agent and file a statement of share holdings with the tax office.
• The tax is filed and paid within 3 months after the end of the month of departure; with a tax agent, in the annual filing in May.
• With collateral, payment is deferred until the shares are actually sold, for up to 5 years, or 10 years for studies abroad.

Planning this before the move lets the shares stay invested and the tax be paid from the sale itself.

Foreigners working in Korea: salary, pensions and departure insurance

A foreign resident sends home what was earned in Korea through one bank chosen as the designated bank. The bank checks where the money came from:

• salary and bonuses: employment contract, pay slips or an income certificate;
• business income and fees of a self-employed person: tax filings;
• Korean pensions, social insurance and similar payments: the payer's statement;
• money brought or sent to Korea from abroad: the customs declaration or the incoming transfer; for a non-resident, from the last entry to Korea.

The departure guarantee insurance of workers hired under the Act on Foreign Workers' Employment is paid out without a designated bank. Without income papers a foreigner sends up to $50,000 a year through the designated bank or a chosen card company, and a foreign resident also pays up to $10,000 of travel expenses abroad.

Selling a flat in Korea and taking the money out

Overseas Koreans who live abroad, foreign residents and non-residents take the proceeds of a property sale out of Korea with a property sale proceeds certificate from the tax office. The certificate covers the sale price minus the debts on the property, such as a lease deposit to be returned to a tenant, and the taxes on the sale. It is issued by the tax office where the property is located or of the last address, within 10 days.

An overseas Korean living abroad also takes out deposits and trusts, proceeds from securities, loans against one's own deposits or property and a returned lease deposit. Assets other than property need a deposits source of funds certificate when they total more than $100,000. The transfer goes through a designated bank.

How sale proceeds are documented in other countries: moving home sale proceeds abroad.

Investing abroad: own business, E-2 visa, property

Own business abroad. A stake of 10% or more in a foreign company, a loan to it or a sole business abroad is overseas direct investment. It is reported to a designated bank before the transfer with a business plan, a tax payment certificate and a resident registration extract. After the transfer the investor files a report on the money sent, a report on the shares received within 6 months and a yearly report within 5 months after the end of the financial year. There is no limit on the sum.

Korea has been a treaty country for the US E-2 investor visa since 7 November 1957, so a Korean citizen opens a business in the US and moves there with the family on this visa. The money for it goes as overseas direct investment. For a green card through a $800,000 investment, see EB-5 source of funds.

Property abroad. A home for living in or a property for investment is reported to a designated bank and goes abroad with no limit on the sum. A deposit before the contract is paid under a preliminary report, up to 10% of the price and no more than $100,000. After the purchase the owner reports it within 3 months and confirms ownership every 2 years.

Studies, long stays and accounts abroad

Tuition and living costs of a student abroad for 6 months or more go through a designated bank with an enrolment letter, with no limit. The same applies to expenses of a person working abroad for more than 30 days.

A Korean resident whose accounts abroad held more than 500 million won (about $373,000) in total on any month-end reports them to the tax office from 1 to 30 June of the next year, online. The report lists the accounts and their highest balance; once filed, the money stays abroad as before.

Cash at the border

Leaving Korea with more than $10,000 in total in won, foreign currency and other means of payment, a traveller declares it to customs. Emigration funds and money taken out by overseas Koreans can also travel as cash: for a sum above $10,000 the bank issues a confirmation that is shown to customs.

Rules of other countries are collected in the article cash border limits.

Documents by situation

Names in the passport, contracts and bank statements should match letter for letter: this is what most often holds up a large transfer.

Where the money goes

How money from Korea is received in popular destinations: USA, Canada, Australia, Japan, Vietnam, Singapore. For a large sum, see sending large sums abroad and proof of source of funds.

How we help

We choose a legal route for your sum and purpose, combine the yearly limit with emigration funds, sale proceeds or a reported investment, prepare the documents for the tax office and the bank and carry out the transfer through licensed partners. You see the plan, the list of documents and the timing before the first transfer. All ways of moving capital are on the capital relocation page.

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