Act on the Immigration and Legal Status of Overseas Koreans — Article 12 (Financial transactions)

A Korean national residing abroad who has completed resident registration and a foreign nationality Korean who has reported the domestic place of residence shall enjoy equal rights with a national of the Republic of Korea who is a resident under the Foreign Exchange Transactions Act when using domestic financial institution, such as opening a deposit account or installment savings account, application of interest rates, and making deposits and withdrawals; provided, the same shall not apply to reporting on capital transactions, etc. under Article 18 of the Foreign Exchange Transactions Act. <Amended on May 20, 2014>[This Article Wholly Amended on Mar. 14, 2008]