Six Korean Banks Begin Accepting Mobile Residence Cards from Foreign Residents

Starting from March 21st, registered foreign nationals residing in Korea will be able to use their mobile residence cards 

for banking services, including opening a bank account.

This follows the issuance of mobile residence cards to foreign residents holding physical residence cards, 

which began last January.

Since the mobile residence cards hold the same validity as the physical ones, 

financial authorities and institutions have worked to develop the necessary systems and processes 

to ensure the smooth adoption of mobile residence cards in financial services.

The six participating banks are Shinhan Bank, KEB Hana Bank, iM Bank, Busan Bank, Jeonbuk Bank, 

and Jeju Bank. Six more banks are expected to follow in the coming months.

Jeonbuk Bank became the first to accept the mobile residence card 

for both face-to-face and non-face-to-face services. 

However, the use of the mobile residence card for non-face-to-face services 

will gradually be expanded to other banks as well.

With a growing number of foreign nationals residing in Korea for extended periods, 

the demand for financial services has been steadily increasing. 

The introduction of the mobile residence card is expected to provide foreign residents 

with more convenient access to banking services.