There is no specific bank balance requirement for entering or staying in Korea. However, depending on your purpose of visit, you may need to demonstrate sufficient funds to cover your expenses.
Visa Requirements
- Tourist Visa: For a tourist visa, you generally need to show proof of sufficient funds to cover your stay, which is often around $100 per day. This can be demonstrated through bank statements, credit card statements, or a letter of sponsorship.
- Work Visa: If you are applying for a work visa, you might need to provide proof of employment and salary, which will typically be reviewed to ensure it meets the minimum wage requirements in Korea.
- Study Visa: For a study visa, you will need to prove you have enough funds to cover tuition fees, living expenses, and other costs associated with your studies.
Bank Account Opening
- Opening a Bank Account: If you plan to live in Korea for an extended period, you may want to open a bank account. Most banks require you to have a valid visa and a Korean resident registration number (주민등록번호).
- Initial Deposit: The initial deposit required to open a bank account varies depending on the bank and the type of account you choose. However, it is generally a small amount, typically around ₩100,000 (approximately $80 USD).
Remember: The specific requirements for bank balances and documentation can change, so it's always best to check with the Korean embassy or consulate in your country for the most up-to-date information.
