You must visit the bank in person to open your account and bring your alien registration card (you many also be asked for your passport). If you do not have an alien registration card yet, bring your passport. (limits may be imposed if you do not have an ARC).
You will be asked to fill out a form giving your ‘real’ name (the one on your passport), your residential and/or business address and telephone number.
There are no joint-accounts in Korea, so if you are married, you must each open your own account.
If you are opening an account for an association or club, you will have to open it in your name.
There is no charge for opening an account.
There is no minimum deposit required, although it’s a good idea to put in W10,000 or so at the beginning (~$10.00).
There is a small fee (W2-3,000) to get your ATM card from some banks. Most banks only allow you to have one ATM card. Note: the number on your ATM card is not your bank account number. Since you will often need to give/know your account number, you may want to write it on the back of the ATM card – below your signature.
Some banks allow only registered foreign residents, with 3 months residency, to open a bank account. (see more details below*). Many banks allow new arrivals who don't yet have their ARC to open an account, but services are limited including, often, ATM access, meaning all transactions must be conducted via a teller.