6 banks to allow services with mobile foreigner registration cards

By Jun Ji-hye

Registered foreign residents in Korea with a mobile foreigner registration card will be able to use it for financial services, including opening bank accounts, at six banks beginning Friday, the government said Thursday.

According to the Ministry of the Interior and Safety, the Financial Services Commission (FSC) and the Ministry of Justice, the six banks are Shinhan Bank, KEB Hana Bank, iM Bank, Busan Bank, Jeonbuk Bank and Jeju Bank.

Among them, Jeonbuk Bank will allow foreign nationals to use their digital ID cards for non-face-to-face services, with others planning to follow.

The changes came after the Immigration Control Act was revised to grant the mobile foreigner registration card the same legal status as the physical card.

The justice ministry began issuing mobile ID cards to registered foreign residents in January.

Foreign nationals who plan to stay in Korea for more than 90 days after entry must register their residency with the relevant authority within 90 days of arrival.

Any registered foreign resident aged 14 or older with a smartphone under their name is eligible to receive a digital ID card.

The FSC said as the number of long-term foreign residents in Korea continues to grow, so does the demand for financial services.

The long-term foreign resident population increased from 1.7 million in 2022 to 2 million in 2024.

“We plan to continue supporting the use of mobile foreigner registration cards at other financial institutions,” an FSC official said.

Other banks, such as Woori Bank, NH NongHyup Bank, KB Kookmin Bank and the Industrial Bank of Korea, are also set to allow account openings and other services with such digital ID cards within the first half of the year.