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Academics are undoubtedly the most crucial aspect of studying abroad. However, purchasing brand new textbooks and reference materials for every course can be quite costly—not to mention the lack of space to store all those books. Fortunately, Korean universities offer well-equipped libraries, easy access to a vast array of online resources, and cost-effective alternatives such as second-hand bookstores and e-books. In this post, we’ll break down how international students can save on textbook expenses by effectively utilizing the campus library, discovering tips for reducing the cost of study abroad textbooks, and making smart use of e-books and second-hand materials.

1) Features of University Libraries

University libraries in Korea go beyond simply lending and reading books; they also offer facilities such as study rooms, computer labs, and lounges. From academic research materials to novels, magazines, and thesis databases, the range is vast. For international students, borrowing textbooks or accessing academic journals via online research databases can significantly reduce costs without needing to make purchases.

Some university libraries even operate 24-hour reading rooms for late-night study sessions and offer amenities like lockers, rest areas, and cafes. Entry usually requires a student ID card (or a mobile student ID), which is also needed for book borrowing. Be careful not to lose it!

2) Library Usage Tips

Understand the Borrowing Rules

Each university may have different borrowing limits and durations for undergraduates, graduate students, and international students. For instance, undergrads may be allowed “five books for two weeks,” while graduate students may borrow “ten books for a month.” Knowing the rules, such as how to renew, reserve, or compensate for lost books, will make your library experience smoother.

Electronic Resources and Databases

Many libraries subscribe to premium academic databases like Elsevier and JSTOR, as well as e-book services. Students can access these for free, making it possible to read academic journals and English-language articles without incurring extra costs. Learn which databases are available through the library website or help desk, then connect via VPN or school Wi-Fi to search papers and articles effectively.

Study Room Reservations

If you’re working on a group project or conducting a study meeting, you can reserve a small study room in the library. Reservations are typically made via the library’s website or app, and you can use the room for 2 to 3 hours at a time. International students can gather their teammates in these rooms for English-Korean mix discussions, utilizing large monitors or whiteboards to share and organize ideas collaboratively.

3) How to Save on Textbook Purchases

New textbooks can be especially expensive for international students—importing them from your home country is difficult and buying original versions in Korea can be challenging. Here are some ways to cut down on costs:

1. Used bookstores and online platforms: Around university districts like Seoul National Univ. of Education Station and Sinchon, there are second-hand bookstores, and online markets like Aladin Used, Yes24 Used, and Danggeun Market offer books at a fraction of the cost.
2. Buying from senior students: Department bulletin boards or community groups often have listings that say “Selling textbook for this course.” Buying directly from seniors allows you to save a lot on course materials.
3. Library book requests: If a required textbook is not available in the library, some schools allow students to request the library to purchase and stock the book. If it’s an expensive title, this option saves you the purchase cost while giving you access to the book via loan.

4) Using E-books and PDFs

Some courses offer electronic versions of textbooks, which are far cheaper than printed ones—especially via platforms like Amazon Kindle. They’re also easier to carry since they don’t add weight to your bag. However, Korean-language textbooks may still be limited in e-book format, so this is more viable for English-language titles.

Professors also sometimes provide lecture materials or article excerpts in PDF format. Legal download sites also offer access to academic documents. Be aware that illegal PDF copies or scans of entire textbooks violate copyright laws. Some print shops offer full copies of exam prep books, but these practices are legally questionable and should be avoided.

5) Tips for Buying Used Textbooks

When buying second-hand books, make sure to check the condition—look for notes, tears, or page discoloration. Underlines and comments from former students can be helpful, but messy annotations may cause distraction. Also, be careful not to accidentally purchase outdated editions; some courses require the most recent updates, so confirm the edition with the syllabus or professor beforehand.

For safer transactions, use secure platforms like Danggeun Market or Bunjang (Lightning Market), or meet in person if possible. Used book prices typically range from 30% to 70% of the original cost, but rare textbooks may be priced higher. Always compare current market prices.

6) External Libraries: Local Libraries and the National Library of Korea

If your university library doesn’t have a certain book, consider checking out local public libraries or the National Library of Korea (located in Banpo, Seoul). This library houses a massive collection, including many foreign language books, making it an invaluable resource for international students. However, borrowing materials can involve complex procedures, so check how to register in advance on their website.

Additionally, you can use online portals like RISS (Research Information Sharing Service) or KISS (Korean studies Information Service System) to search resources across university libraries nationwide. You can request copies or interlibrary loans—there may be a small fee, but it’s a great way to access rare academic materials for research and thesis writing.

7) Study Groups and Sharing Materials

Sharing textbooks or prep books with classmates taking the same course is another way to cut costs. Form a study group and split the cost by each buying a different book and rotating them among members. Some professors offer course materials as PDFs on the LMS platform, completely replacing the need to buy the textbook.

For international students, collaborating with Korean students or peers from other countries can help share resources and reduce individual costs while enhancing language and teamwork skills. If several people buy one book together, be cautious about loss or damage and coordinate schedules, especially during exam season.

8) On-Campus Copy and Print Facilities

Libraries and student centers typically have copy rooms or PC rooms equipped with printers and copy machines. You can print or copy documents for about 40–50 KRW per A4 page, often cheaper than off-campus shops. Printing portions of an e-book or PDF can aid your studies, but excessive copying may violate copyright laws.

It’s generally illegal to copy an entire book inside the library. Korean copyright law prohibits duplication beyond a certain percentage of a publication. Some professors will tell you which parts you are allowed to copy, so always follow these guidelines and use these facilities responsibly.

9) For Graduate Students: Labs and Academic Journals

Graduate students often don’t need to buy every book individually, as their advisors or labs may share resources. Common bookshelves usually contain core textbooks, academic journals, and presentation materials. Ask your advisor or senior, “May I borrow research materials from the lab’s collection?” and be sure to handle everything respectfully and return it promptly.

Additionally, becoming a member of a professional society allows you to purchase journals or conference proceedings at discounted rates and access online archives. International students can benefit from visiting the websites of academic associations (e.g., Korean Economic Association, Linguistic Society of Korea) to take advantage of the resources they offer.

10) Conclusion

For international students studying in Korea, managing textbooks and learning resources efficiently is vital for academic success. Thankfully, Korea has excellent university library systems, second-hand book markets, e-book options, and study groups that help you save money while maintaining study quality. Make full use of library functions and explore alternatives like used bookstores or e-books to reduce your textbook expenses.

Instead of buying all textbooks as new books at the beginning of the semester, evaluate the course content first and buy only what’s truly necessary—or submit purchase requests to the library. Since there are many ways to spend money during your study abroad—like travel and activities—you’ll benefit from saving on textbooks and enjoying a broader range of experiences. With smart use of library resources and second-hand markets, you can reduce tuition burdens and enrich your study-abroad journey in Korea.

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If you’re working or starting a business in South Korea, you’ll notice various deductions every month in your payslip. These typically include Korean taxes like income tax and resident tax, along with the “four major insurances”—National Pension, Health Insurance, Employment Insurance, and Industrial Accident Compensation Insurance. For foreigners, it’s natural to wonder, “Why are there so many deductions?” or “Where does all this money go?”

However, with a bit of understanding, it becomes clear how these taxes and insurances play a crucial role in Korean society and why payment is mandatory. Taxes, after all, are essential not only in Korea but in any country for stable governance. Similarly, the four types of insurance serve as a vital safety net in unforeseen circumstances. In this article, we’ll break down the basics of income tax, resident tax, and the four major social insurances you’ll encounter while living and working in Korea.

Income Tax: Where There’s Income, There’s Tax

The most fundamental tax is income tax. In Korea, income is taxed across various categories including earned income, business income, and financial income like interest or dividends. For most office workers, monthly salaries or annual wages fall under “earned income.” Companies calculate the income tax due on payday, deduct it at the source (withholding tax), and submit it to the National Tax Service.

Korean income tax is based on a progressive tax rate, meaning the more you earn, the higher the tax rate. Rates start at around 6% and can go as high as 45% depending on your annual taxable income. However, actual tax liability may be reduced through various deductions and tax credits. Foreigners earning income in Korea are also subject to Korean income tax laws, though double taxation may be avoided or reduced if there is a tax treaty in place between Korea and their home country.

Resident Tax: A Small Portion for Local Governments

Resident tax is calculated as a percentage of your income tax payable. In Korea, it’s generally about 10% of your income tax amount. For example, if 100,000 KRW is deducted as income tax in a month, an additional 10,000 KRW would be taken out as resident tax.
This tax is collected by local municipal governments (cities, counties, or districts) and is used to fund regional welfare and city infrastructure. On your payslip, resident tax may be listed separately or bundled with income tax. For most employees, this tax is automatically deducted at source, so there’s usually no need for concern or additional action.

Overview of the Four Major Insurances: National Pension, Health Insurance, Employment Insurance, and Industrial Accident Insurance

While income tax and resident tax are classified as taxes paid to the central or local government, the four major insurances are essentially types of social insurance. To protect workers and strengthen Korea’s social safety net, participation in the four major insurances is mandated by law. Thus, if you’re employed and receive a monthly salary, a portion of it will be automatically deducted for these insurances.

National Pension: Preparing for Old Age

The National Pension is Korea’s public retirement system. If you contribute for a certain period (typically 10 years or more), you’ll receive monthly pension payments after retirement. For employees, about 9% of their monthly salary is contributed, with the cost split equally between employee and employer. These funds are pooled and invested to generate returns used for future pension obligations.

Foreign employees living in Korea are generally required to enroll in the National Pension. If Korea has a bilateral Social Security Agreement with your home country, your contribution periods may be combined, or you may be eligible for a lump-sum refund when returning home based on specific conditions. These details vary by country, so it’s best to check based on your nationality.

Health Insurance: Reducing Medical Expenses

Korea’s national health insurance system significantly lowers medical expenses when visiting hospitals or pharmacies. Employees pay approximately 7–8% of their salary as premiums, split evenly between employee and employer. As a result, out-of-pocket costs for medical visits, hospitalizations, and prescriptions are greatly reduced. The insurance is also extremely helpful in the event of serious illness or cancer care.
Foreigners working full-time and living in Korea long-term are automatically enrolled in health insurance. In the past, it wasn’t mandatory or easy for foreigners to enroll in the regional plan, but now long-term residents are required to enroll after a certain stay duration. Once registered, a health insurance card allows access to discounted healthcare services at hospitals and clinics.

Employment Insurance: Support for Unemployment, Maternity, and Parental Leave

Employment insurance is a social insurance that provides support when you can’t work due to unemployment, childbirth, or childcare responsibilities. A major benefit is the unemployment allowance (or job-seeking benefit), which provides financial support when you lose your job involuntarily and actively search for a new one. It also covers benefits during maternity leave and parental leave.

If a foreign employee is enrolled in employment insurance, they may become eligible for these benefits if certain conditions (minimum contribution period, visa status, reason for termination) are met. However, if your visa expires during your benefits eligibility period, complications may arise—so it helps to have a long-term visa. Premiums are shared between employee and employer and are relatively low compared to other insurance types.

Industrial Accident Compensation Insurance: Coverage for Work-Related Accidents

Industrial accident insurance provides compensation for medical expenses, disability, or lost wages if an employee is injured, falls ill, or suffers an accident while performing job duties. This is the only insurance among the four that is fully paid for by the employer, with no deductions made from employees’ wages.
In Korea, this insurance covers all industries—not just high-risk jobs like construction—so even office workers are eligible. If a work accident occurs, employees (including foreigners) can receive aid from the Korea Workers’ Compensation and Welfare Service. This insurance is a critical safeguard for employees’ well-being and medical cost relief.

Year-End Tax Settlement: Refunding Excess Deductions

Although income tax is deducted monthly, the final amount owed is determined during the year-end tax settlement. In this process, employers collect supporting documentation (medical bills, tuition fees, charitable donations, insurance premiums, etc.) from employees and report them to the National Tax Service. A recalculation is made, and in January or February of the following year, employees may either receive a refund or pay additional tax. Foreign employees go through the same process and can enjoy tax credits, for example through donation deductions, if they qualify.

What if you resign mid-year or switch to another company? In such cases, a mid-year settlement or filing of a comprehensive income tax return in May of the following year is required. If you’re planning to leave Korea right after resignation, it’s advisable to settle your tax affairs before departure. Understanding the year-end settlement system can reduce your tax burden, so organizing receipts and records in advance is beneficial.

Case Study: How German Employee Mr. U Experienced Korean Taxes and Social Insurances

Mr. U, a German national working at a Korean IT startup, was puzzled every time he saw his payslip. “Why is so much deducted—income tax, resident tax, National Pension, Health Insurance, Employment Insurance?” he wondered. After asking colleagues, he learned that these deductions were all legally mandated taxes and insurance contributions. Curious, he asked his HR representative for a detailed explanation and realized that these weren’t just deductions—they were protective systems for his future.

Thanks to health insurance, he could significantly reduce medical expenses. Employment insurance offered benefits like unemployment assistance and parental leave. The National Pension was a solid resource for retirement planning. During the year-end tax settlement, he submitted receipts for his medical bills in Korea and received a small refund. Though unfamiliar, the structured system gave him peace of mind.

Conclusion: Korean Taxes and Social Insurances Provide Stability for Life in Korea

Income tax, resident tax, and the four major insurances apply to everyone in Korea—including foreigners. At first, it might feel frustrating to see large deductions from your salary, but these systems are important pillars in Korean society and function as personal safety nets. In the face of unexpected events like illness, accidents, or job loss, health insurance, employment insurance, and accident insurance can be powerful sources of support. The National Pension ensures a stable retirement.

Accurate tax payments also contribute to maintaining Korea’s public services and secure your status as a legal resident and worker. Most importantly, once you understand these systems, you’ll find tax return filing, visa extensions, or even handling taxes when moving overseas much easier. If you plan to build a long-term career in Korea, understanding and utilizing these systems effectively is essential.
Taxes might feel burdensome, but when paid with knowledge and foresight, they provide you with protection and assurance as a member of society—regardless of your nationality. Don’t hesitate to seek help from your HR department or a tax professional to better understand Korea’s system. Doing so can make your life in Korea much more stable and comfortable.

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If you’re an international student staying in South Korea for an extended period, it’s essential to understand the healthcare and insurance systems. Without insurance, medical bills can become a significant financial burden if you unexpectedly fall ill or have an accident. Fortunately, the Korean government mandates or recommends enrollment in the National Health Insurance Service (NHIS) for international students who meet certain eligibility criteria, allowing access to medical services at relatively low costs. In this article, we’ll delve into Korea’s national health insurance system, important things to note when visiting a hospital, as well as health checkups, providing an overall understanding of the medical system that international students should be aware of.

1) Overview of National Health Insurance (NHIS)

South Korea operates a public health insurance system called the National Health Insurance. Most Korean citizens and some foreign nationals (long-term residents) are required by law to enroll and pay a monthly premium. In return, a large portion of the cost of hospital visits, such as outpatient treatment and prescription medications, is subsidized under the insurance plan.

International students who stay in Korea for six months or more are considered “long-term foreign residents” and are required to enroll in NHIS by law (although this may change, so it’s best to check the latest information). Premiums are calculated based on income or assets, and students are usually offered a special discounted rate.

2) Enrollment Process

Once you have your Alien Registration Card and your stay in Korea exceeds six months, you become eligible for NHIS. Typically, after receiving your Alien Registration Card from the Immigration Office, you’ll either receive a guide from the National Health Insurance Corporation or you can directly contact them at 1577-1000 to confirm your enrollment. Many schools also provide orientation or assistance in this process through their international offices.

After enrollment, you’ll receive a monthly bill for your insurance premium. These premiums can be paid via bank transfer, at convenience stores, or with a credit card. If you miss a payment, you may lose your benefits when visiting a hospital, and prolonged payment delinquency might affect visa extensions, so it’s important to stay up to date.

3) Basic Guidelines for Using Hospitals

In Korea, medical institutions are broadly divided into primary (local clinics), secondary (general hospitals), and tertiary (university hospitals) care levels. For minor illnesses like colds, local clinics are the most convenient. For major surgeries or advanced tests, university hospitals are appropriate. With NHIS coverage, a significant portion of medical expenses is discounted, though special treatments, certain materials, and non-covered services may still cost more.

During your first hospital visit, present your “NHIS card” or Alien Registration Card at the reception desk to register your patient information (these days, instead of using a physical card, your insurance status can be verified via your resident or registration number). After selecting your department, you’ll receive a medical consultation, and if a prescription is issued, you can purchase medications at a pharmacy. If you have difficulty communicating, consider visiting hospitals with English-speaking doctors or using a Global Help Center service.

4) Utilizing Public Health Centers and Campus Health Clinics

As an international student, you can make use of public health centers operated by each district or your university’s student health center. Public health centers often provide vaccinations, health screenings, and basic treatment at very low or no cost. When in need of tuberculosis or hepatitis shots, or when it’s time for periodic national cancer screenings, they will guide you accordingly.

Some universities operate their own student health centers, offering basic consultations, first aid, and minor treatments. Services such as cold medication, wound care, and vitamin injections may be available, and some centers have resident doctors, making treatments inexpensive or even free. For chronic diseases or major surgeries, outside hospitals are necessary, but minor health issues may be economically handled on campus.

5) Dental, Eye, and Mental Health Services

In addition to general medical care, dental, ophthalmic, and psychiatric services tend to be more expensive. Even with NHIS, many procedures—such as prosthetics, implants, lenses, and counseling sessions—fall under non-covered categories. So much so that many international students are advised to complete dental treatment in their home country due to the high costs. Still, some dental procedures are partially covered, so consult with the clinic to confirm expenses.

For mental health care, services like counseling and psychological tests are often not covered, but some areas might be. Many universities offer free counseling through student centers, so if you’re experiencing stress or emotional challenges, start with on-campus resources.

6) Health Checkup System

In Korea, people over 40 are eligible for government-subsidized free health screenings. While most international students may not qualify due to age, long-term students who meet certain requirements (such as a minimum time after NHIS enrollment) may be eligible for general health checkups. If you’re unsure, check your eligibility on the National Health Insurance Corporation’s website.

If eligible, you can receive blood tests, urinalysis, X-rays, and basic physical exams at assigned hospitals either for free or at a reduced rate. Early detection from these checkups can help uncover and treat hidden conditions in advance.

7) Comparison with Private Insurance

In addition to NHIS, you may also opt for private international student insurance. Some countries recommend insurance from their homeland or suggest international policies upon arrival in Korea. Private insurance may reimburse actual medical expenses, but may not cover full amounts or specific conditions such as dental or psychiatric care. Therefore, some students choose to maintain both NHIS and private insurance, while others pick only one.

If your school offers group insurance for international students, carefully review its pros and cons. Understand what medical situations it covers and whether the paperwork is complicated. If you cannot opt out of NHIS, you may consider customizing your private plan to avoid overlapping coverage and keep premiums low.

8) Using Pharmacies and Medications

Prescription drugs like antibiotics and blood pressure medications require a doctor’s consultation and a valid prescription, which you can then take to a pharmacy. Thanks to NHIS, prescription drug costs are significantly lowered. On the other hand, over-the-counter medications like Tylenol or digestive aids are available without a prescription at pharmacies, but keep in mind that in Korea, even common cold remedies and painkillers are rarely sold in convenience stores, so finding a pharmacy is essential.

International students may find that some familiar medications from their home country are unavailable in Korea. It’s a good idea to bring an appropriate amount of personal medication, though excessive quantities or controlled substances can be restricted at customs—so check carefully. Near your school, if you ask a pharmacist, “Can I use health insurance here?”, they’ll likely explain that it only applies for prescription drugs with a valid script.

9) Communication and Translation Support

At some clinics, the doctor or nurse may not speak any English. In such cases, it’s helpful to write down basic medical terms such as symptoms, pain location, and medical history, or use a translation app. Larger hospitals, like university medical centers, often have international clinics or interpreter coordinators who can assist in English, Chinese, Japanese, etc. When making an appointment, ask whether English interpretation is available.

However, in smaller local clinics, English support may be limited. Prepare a few simple Korean sentences describing your symptoms in advance, and be ready to use gestures when the doctor asks, “Where does it hurt?”. To avoid these challenges, check international student communities online for recommendations on foreigner-friendly hospitals.

10) NHIS for international students, Conclusion

Health and insurance issues are an inevitable part of the international student experience, whether it’s a simple cold or a medical emergency—so being prepared is essential. Joining the Korean National Health Insurance can significantly reduce your medical expenses, and services for international patients are gradually expanding, so there’s no need to worry. Understanding basic procedures such as doctor appointments, prescription issuance, and pharmacy use can help you smoothly navigate Korea’s unfamiliar healthcare system.

Moreover, maintaining a healthy lifestyle through regular health checkups, adequate rest, and exercise is key to a successful study abroad experience. Falling sick in a foreign country can take a financial and emotional toll, so preventive care is crucial. By learning about NHIS, smart hospital visits, and communication strategies, you’ll be equipped for a safe and healthy stay as an international student in Korea.

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If you’re planning to stay in South Korea for an extended period, you’ll likely need to handle several financial matters such as paying a housing deposit, receiving salary payments, paying utility bills, or sending money overseas. Upon arrival, many foreigners ask themselves, “Can I easily open a bank account in Korea?” or “Which bank is best for foreigners?” Fortunately, South Korea is gradually expanding its banking services for foreign residents, making it relatively straightforward to open an account as long as you have the necessary documents.
This article takes a detailed look at foreign bank account Korea and what to keep in mind during the process. Even if you don’t have a Korean resident registration card, you can still access banking services with your passport and alien registration card. So instead of worrying, a calm and thorough preparation will go a long way.

Identification Documents: Alien Registration Card Is Key

To open a bank account, you must present documents that verify your identity. While Korean citizens use a resident registration card or driver’s license, foreigners primarily rely on their Alien Registration Card (ARC). If you’re staying long-term, you’re typically required to apply for an ARC within 90 days of arrival. Once issued, the ARC is widely accepted by banks as valid identification.
If you need banking services before receiving your ARC, some banks may allow you to open a basic account with your passport and proof of temporary residency (e.g., a housing confirmation document). However, these accounts often come with limited features, so it’s much more convenient in the long run to wait until you have your ARC before opening a full-service account.

Choosing a Bank: Accessibility and Service Comparison

In Korea, major banks such as KB Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, and NongHyup offer a wide range of services. Online banks like KakaoBank and K-Bank are also gaining popularity. Choosing a bank with convenient branch locations or ATMs near your residence will simplify everyday transactions. Some banks provide foreigner-dedicated counters or English-language support, which is especially helpful if you’re not confident in Korean.
Online-only banks are particularly attractive for their easy-to-use mobile apps and low fees. They allow you to open and verify accounts without visiting a branch. However, identity verification can be more complicated, and some systems may not fully support foreign ID registration yet. Weigh your options based on convenience and available services before choosing.

Account Opening Procedure: ID, Contact Number, and Address

When you visit a bank and say you’d like to open an account, the banker will first ask for identification. Bringing both your Alien Registration Card and passport will make the identity verification smoother. You’ll also need to provide a local phone number and a residential address in Korea. Due to recent anti-money laundering regulations, you may also be asked to state your account’s intended use — for instance, “salary deposit” or “personal living expenses.”
Once approved, you’ll receive a bankbook and a debit (check) card. If you’re interested in digital banking, you can also apply for internet and mobile banking services at this point. Downloading the bank’s app will allow you to check your balance and make transfers on the go. Note that some banks do not issue debit cards on the spot, so you may need to wait a few days to receive it by mail.

Be Aware of ATM, Transfer, and Remittance Fees

Just because you’ve opened an account doesn’t mean all services are free. Korean banks often charge fees depending on the time of day for ATM withdrawals or when transferring to other banks. However, some of these fees can be waived when you use the bank’s debit card, or reduced through internet and mobile banking — though the rules can be complicated.
Some banks offer increased fee exemptions if your account is designated for salary deposits or if you maintain a certain minimum balance. It’s a good idea to ask the bank representative about fee waiver conditions when opening your account. Online banks typically charge little to no transfer fees, making them a good choice for those who send money frequently.

Foreign Exchange and Foreign Currency Accounts

As a foreigner, you may often need to deposit or withdraw foreign currencies like your home country’s currency, U.S. dollars, or euros. Korean banks provide currency exchange services, or you can maintain a “foreign currency savings account.” This allows you to deposit, hold, and withdraw foreign currencies without converting them into Korean won. You can potentially take advantage of favorable exchange rates during volatile periods to minimize losses or gain profits.
Some banks offer exchange rate discounts or promotional coupons, granting preferential rates of up to 50-90%, which significantly lowers transaction costs. Just present your passport, bankbook, or ID at the exchange counter. If you’re exchanging a large amount, it’s wise to make a reservation in advance for better rates and service.

Security Cards, OTP, and Mobile Authentication

Korean banks use a fairly strict security system. You may need to use a security card or a one-time password (OTP) generator when transferring money. Recently, banks have introduced mobile app features like fingerprint or facial recognition, but multiple identity verifications are often required during the initial setup.
A security card is a printed sheet with 30-50 pairs of numbers, and you’ll be asked to enter specific codes during transactions. An OTP device can be purchased separately, or you can install a mobile OTP on your smartphone. Though these procedures may feel inconvenient for foreigners, Korea places great importance on financial security. Following the setup steps carefully will make the process easier.

Mobile Payments and Pay Services

In Korea, mobile payment and transfer services like “KakaoPay,” “NaverPay,” and “Toss” are widely used. By installing these apps and linking them to your bank account or debit card, you can pay via QR codes or send money using phone numbers. It’s entirely possible to live in Korea with little to no cash use.
Foreigners can use these services once their bank account is set up. However, you may be required to verify your identity using a Korean mobile phone number. Using a prepaid or budget carrier number may pose limitations, so it’s better to obtain a number registered with a mainstream telecom company. Once the service is activated, you’ll be able to make easy payments at convenience stores, in taxis, or when shopping online.

Case Study: How a French National Opened a Bank Account

Mr. S, from France, began his life in Korea after getting hired at an IT company in Seoul. Initially worried about how he’d receive his salary, he found it easy to open an account after getting his Alien Registration Card. When he visited the bank, the staff recommended a “salary account package,” which included a debit card, internet banking, and mobile OTP setup all at once.
Though initially overwhelmed by the complex fee structures, he soon got the hang of it by checking transaction histories and fee details in the bank’s app. He found online currency exchange especially convenient. Mr. S says, “The Korean banking system is highly digitized and secure, which makes it safer and quicker than I expected. Though the language was a slight barrier, the staff were kind and helpful.”

Conclusion: Foreign Bank Account Korea

If you’re going to live in Korea long-term, you’ll inevitably need to manage your finances. Core daily activities like salary deposits, utility payments, and phone bills all rely on having a bank account or mobile banking app. Therefore, it’s recommended that foreigners prepare their ARC in advance and choose a bank that meets their specific needs.
Once your account is set up, learning about fee structures, exchange services, and security procedures will make daily life smoother. Since digital payment and remittance services are growing rapidly in Korea, you can live almost cash-free by making good use of these mobile features. While the process may seem tedious at first, you might be surprised at how convenient Korea’s financial system becomes once you’re familiar with it.

Ultimately, with the right preparation and access to information, banking in Korea is not a daunting task for foreigners. Begin managing your finances systematically by opening an account, and take advantage of the various banking products and digital services available. A stable and efficient financial infrastructure will enhance both the safety and richness of your life in Korea.

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While studying abroad, there are many times when you either need new items or want to get rid of unused ones. As a student, it can be hard to afford brand-new products, and when it’s time to return home, you may find yourself with large appliances or furniture to dispose of. In Korea, people actively use secondhand marketplace apps and community platforms in these situations. ‘Danggeun Market’ (Karrot) is already well known for its local-based transactions, while ‘Bungaejangter’ and ‘Joonggonara’ (a Naver Cafe) are also highly active. In this post, we’ll break down the unique features of each platform that international students can use for secondhand trading, along with tips to ensure a safe transaction.

1) The Background of Korea’s Secondhand Market Culture

Although Korea has a highly developed e-commerce ecosystem that makes buying new products easy, secondhand trading is also very popular. Especially in times of high inflation, it offers the benefit of saving money, reducing waste, and reusing items that others no longer need. For international students, buying used household goods (desks, wardrobes, microwaves, printers, etc.) can be significantly cheaper, and you can resell them when leaving the country—thus, cutting costs substantially.

However, most secondhand deals are conducted directly between individuals, making them prone to scams or disputes. This makes selecting the right platform and managing the transaction process crucial. Follow some basic precautions, and you can trade safely and conveniently. Read on for more details.

2) Danggeun Market (Karrot): Local Face-to-Face Transactions

‘Danggeun Market’ is a location-based service that limits listings to a few kilometers within your residential area. This makes it easy to meet sellers or buyers in person, reducing the risks of returns and eliminating the need for shipping. It’s great for buying or selling bulky items like appliances and furniture in your neighborhood—especially useful for international students.

However, the location restriction can make it harder to find rare nationwide goods, and the app doesn’t offer full English interface support. That said, the user-friendly UI and simple chat functions make it relatively easy to communicate—even with basic Korean or the help of translation apps.

3) Bungaejangter: Nationwide Shipping and Diverse Categories

‘Bungaejangter’ is a nationwide secondhand trading platform with a wide range of categories including fashion, digital devices, beauty, books, and sports gear. You can search for your desired item using the app, chat with sellers, and use the platform’s “Bungae Pay” feature for secure payments. Since it’s a mainstream platform, it has advanced search features and a large user base.

For foreign students, shipping-based transactions may be more common than in-person deals, so mastering payment methods is essential. Bungaejangter supports an escrow system called “Bungae Pay Escrow,” which holds your payment until the transaction is completed successfully—offering a safeguard against scams. However, since shipping adds time and cost, this platform is better suited for items you don’t need urgently.

4) Joonggonara (Naver Cafe): A Traditional Giant Community

‘Joonggonara’ began as a Naver Cafe and gained broad popularity as a secondhand trading forum. With a large number of members and high transaction volume, it’s easier to find rare items or older electronics. However, since it’s operated as a cafe format, interactions happen through bulletin board posts, direct messages, or comments, making it a bit more cumbersome compared to app-based platforms like Karrot or Bungaejangter.

There are also reports of scammers being active in the community, giving Joonggonara a reputation as a place to “be cautious.” While trustworthy transactions far outnumber the bad ones, most trades are shipping-based between individuals, so it’s critical to learn how to detect and avoid scams. Use escrow services whenever possible and make sure to verify payment security before proceeding.

5) Safe Transactions and Escrow

To prevent fraud in secondhand trading, use payment methods like ‘Safe Payment’ or escrow services. In this system, a third party (the platform) holds the buyer’s payment and only releases it to the seller after the item has been safely delivered and confirmed. Apps like Bungaejangter offer built-in escrow functions, while cafes like Joonggonara may require using external services for the same protection.

For international students not fluent in Korean, there’s a higher risk of falling victim to scams when using bank transfer as the primary method. If someone asks for payment in advance without question — for instance, “Send me the money first”— this could be a major red flag. You can also search the seller’s name, phone number, or bank account online to check for any scam records. Whenever possible, ask for escrow or trade with sellers who have positive reputations.

6) Tips for In-Person Transactions

Meeting in person for a transaction significantly reduces fraud risks. However, there’s still a chance the seller won’t show up or the item is not as described. Always get sufficient photos and detailed information beforehand via chat, and don’t hesitate to ask directly about any scratches or signs of use. Choose public and well-lit meeting spots like cafés or subway station entrances. For bulky items, you may need to meet at the seller’s doorstep.

If you’re worried about your Korean skills, having a few basic translated phrases ready such as, “Is there a scratch here like in the photo?” or “Which subway station should we meet at?” can make communication smoother. For cash payments, bring the exact amount to avoid needing change. If transferring money, show the seller your completed transaction screen for confirmation.

7) Summary of Scam Prevention Tips

1. Use Escrow for Shipping-Based Deals: Whenever possible, use the platform’s safe payment system so the payment isn’t released before the item is received.
2. Beware of Unusually Low Prices and Rush Offers: Listings that are incredibly cheap or offer half-price if paid “right now” are likely red flags.
3. Search Seller’s Account Info: Look up the bank account number or contact details online to spot past scam reports.
4. Watch for Unnecessary Information Requests: Requests for your social security number or passport number may be suspicious.
5. Keep Transaction Records: Save chat screenshots, payment receipts, and package tracking info in case of disputes.

8) For International Students

Rather than shipping goods from abroad, many students purchase secondhand furniture and appliances locally for temporary use while in Korea. Used marketplaces are a convenient and cost-saving option, and when it’s time to return home, you can resell those items through the same apps. If you move to a new location, just update your area settings and keep items in good shape for better resale value.

If speaking Korean is a challenge, prepare translated message templates or get help from a Korean friend. Since secondhand deals are person-to-person, a bit of human trust and good manners go a long way.

9) Shipping Considerations (Quick Service, Courier, Etc.)

If you buy heavy items like a studio fridge or a compact washer through secondhand platforms, it can be hard to transport them without a car. In such cases, you might need to hire a “quick service” or a freight driver—keep in mind these can be costly, so calculate first. For smaller items, convenience store couriers or standard shipping services are fine, but be sure to package items securely to avoid damage—and make sure both parties agree on shipping costs in advance.

Disputes over shipping charges are common in secondhand transactions. Usually, buyers pay for shipping, or sellers clarify extra fees, e.g., “Shipping not included, extra 3,000 won.” For international students, international shipping is too complex, so it’s best to trade domestic-use items only.

10) Conclusion: Secondhand Marketplaces for International Students

Using secondhand platforms like Karrot, Bungaejangter, and Joonggonara can help international students save money and reduce waste during their time in Korea. Choose Karrot for local face-to-face trades, Bungaejangter for wide searches and secure payments, and Joonggonara for finding unique or special items. Each service has its pros and cons, so it’s important to understand safe trading practices and actively communicate with sellers or buyers before making deals.

If you can manage to furnish your space or declutter at the end of a semester through secondhand trading, your stay in Korea will be much more budget-friendly. You might even come across rare finds or make meaningful connections with locals—so don’t be afraid to give secondhand shopping a try.

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