PROCEDURES ON HOW FOREIGNERS CAN APPLY FOR A LUMP-SUM REFUND a) Lump-sum Refund can be remitted ONLY AFTER departing Korea. b) The account must be opened in the applicant’s name. c) Application for OVERSEAS REMITTANCE must be filled out in ENGLISH.

APPLYING IN KOREA (BEFORE departing Korea)

Application form, Alien Registration card, Passport, Your bankbook (registered in the applicant’s name), Plane ticket (departure date within a month)

• If the applicant apply for overseas remittance: Application for overseas remittance, Outgoing Cable or Bank Statement

APPLYING OVERSEAS (AFTER departing Korea)

Application form (notarized from a notary agency of the country in which you reside and attested to by the Korean Consulate or Embassy), Application for overseas remittance, a copy of your passport, a copy of your bankbook (both Bank address and SWIFT code are required)

METHOD OF PAYMENT (BEFORE departing Korea)

• Overseas Remittance: Outgoing Cable has to be submitted. (The account must be opened in the applicant’s name.)
• Korean bank: Ask your friends or company in Korea to transfer money to you
• In case of opening bank account in your country after departing Korea: Mail a copy of your bankbook and a copy of passport to Regional Offices after departing Korea. (Both Bank address and SWIFT code are required)

A KEB easy – one Foreign Currency Remittance Service will be preferred.

EXPECTED TERM OF PAYMENT

Korean Bank : After the confirmation of the last contributions (at least 7 weeks)
Overseas Remittance: at least 10 weeks