The Ministry of the Interior and Safety, the Financial Services Commission, and the Ministry of Justice announced on the 20th that starting from the 21st, registered foreigners will be able to conduct financial transactions at banks using a 'mobile foreigner registration card.'
Foreigners who have received a mobile foreigner registration card can handle financial transactions, such as opening accounts, at a total of six banks: Shinhan Bank, Hana Bank, IM Bank, Busan Bank, Jeonbuk Bank, and Jeju Bank. Among these, Shinhan Bank and Jeonbuk Bank also support non-face-to-face transaction processing.
The number of banks offering this service is expected to gradually increase by six more by June.
Anyone aged 14 and older who is a registered foreigner and possesses a smartphone in their name can receive a mobile foreigner registration card. They can either install the Korean mobile ID app to issue the foreigner registration card by touching it to the smartphone equipped with an electronic chip (IC), or they can take a photo of the QR code.
The government is issuing various types of mobile IDs for convenient identity verification aimed at locals. Since starting with driver's licenses in January 2022, it has expanded to include the National Veterans Registration Certificate in August 2023 and the Resident Registration Card in December 2024.
Recently, as the number of long-term foreign residents has increased in the country, the demand for such services has risen among foreigners as well. In response, the government began issuing mobile foreigner registration cards starting in January of this year.
A government official said, "It is expected that face-to-face and non-face-to-face financial transactions for registered foreigners residing in the country will become more convenient."