South Korea's financial authorities said Thursday they will offer a consolidated information service on foreign currency exchange starting later this week for a growing number of outbound travelers.
A total of 22.7 million people left South Korea for foreign countries last year alone, the Financial Supervisory Service said, citing data from the Justice Ministry's immigration office.
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Travelers exchange currencies at Incheon International Airport in this undated file photo. (Yonhap) |
Many South Koreans also engage in overseas financial transactions for businesses or families living abroad.
Responding to the growing demand, the FSS said it plans to open a separate website Friday in partnership with the Korea Federation of Banks, which can be accessed at the addresses
http://fine.fss.or.kr,
http://exchange.kfb.or.kr and
http://www.kfb.or.kr.
Among the content of the website are types of currency available for exchange via the Internet and detailed fees charged by banks, plus a list of bank branches where foreign coins can be exchanged.
It also introduces the highlight of legislation on foreign exchange trade for ordinary people. (Yonhap)
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