Inbound remittance: threshold for written confirmation of purpose
Replaces the figure everyone repeats. Guidance in English almost universally states that inbound transfers above USD 10,000 are automatically reported and that USD 50,000 a year triggers a declaration; neither is the general rule for receiving money in Korea. What the regulations do set is a point at which the foreign exchange bank obtains written confirmation of why the money was received — an obligation on the bank, not a filing by the recipient, and a different thing from any declaration attaching to the underlying transaction.
- Applies to
- Receipts into Korea that do not otherwise require a foreign exchange declaration
- Review cadence
- Checked once a year
What we have recorded
- 2026-09-29USD 100,000
Measured on the same day for the same person. Below it, ordinary receipts are broadly permitted without declaration. Where the underlying transaction is itself a capital transaction — overseas investment, a loan, acquisition of securities or real estate — the declaration requirements for that transaction apply regardless of amount, and are assessed first. Separately from all of this, a bank can request source-of-funds evidence under its anti-money-laundering and customer due diligence obligations, which is not a declaration.
Foreign Exchange Transactions Regulation — receipts not requiring declaration
One reading so far. This becomes a history the first time the figure moves while we are watching — which is the part that cannot be reconstructed later.
Guides that depend on this figure
When this figure moves, every guide above needs the same edit. That is why it is tracked here rather than copied into each one.