Operating Procedures for the Overseas Remittance Integrated Management System

Enacted: January 23, 2026. Approved by Director, Foreign Exchange Information Team-71

Chapter 1 General Provisions

Article 1 (Purpose)

The purpose of these procedures is to stipulate matters delegated by Article 9-2 of the "Detailed Rules for the Operation of Foreign Exchange Information Centralized Agencies" (hereinafter referred to as the "Detailed Rules") and detailed matters necessary for their implementation.

Article 2 (Definitions)

The meanings of the terms used in these procedures are as follows:

1. "Overseas remittance transaction" refers to the act of residents and non-residents making external payments without submitting supporting documents, as prescribed by the Foreign Exchange Transactions Regulations.
2. "Data on overseas remittance transactions" refers to data necessary for confirming whether un-documented remittance transactions exceed the limit, as prescribed by the Foreign Exchange Transactions Regulations.
3. "Overseas Remittance Integrated Management System" refers to the computer system (hereinafter referred to as the "Remittance Management System") for real-time relay, centralization, and exchange of data on overseas remittance transactions.

Chapter 2 Obligations of Reporting Institutions and Relay Institutions

Article 3 (Scope of Reporting Institutions)

Among the reporting obligated institutions specified in Article 12 of the "Regulations on the Operation of Foreign Exchange Information Centralized Agencies" (hereinafter referred to as the "Regulations"), the following institutions (hereinafter referred to as "Reporting Institutions") must report data on overseas remittance transactions to the head of the Foreign Exchange Information Centralized Agency in real-time:

1. Foreign Exchange Banks
2. Investment Sales Firms
3. Small-Amount Overseas Remittance Providers

Article 4 (User Authority Management of Reporting Institutions)

① Users of the Remittance Management System of Reporting Institutions must prepare and submit the forms specified in each of the following items for system use:

1. Form Attached No. 1: Consent for Provision of Personal Information
2. Form Attached No. 2: Personal Information Protection Pledge

② If a user does not perform tasks using the Remittance Management System, the Reporting Institution must immediately revoke the granted user authority.

Article 5 (Scope of Relay Institutions)

Among the relay institutions specified in Article 12-2 of the Regulations, the following institutions must receive data on overseas remittance transactions from Reporting Institutions not directly connected to the Remittance Management System (hereinafter referred to as "Indirectly Connected Institutions") and report it to the head of the Foreign Exchange Information Centralized Agency without delay:

1. KOSCOM Co., Ltd.
2. Korea Credit Card Association
3. Korea Fintech Industry Association

Article 6 (User Authority Management of Relay Institutions)

① Users of the Remittance Management System of Relay Institutions must prepare and submit the forms specified in each of the following items for system use:

1. Form Attached No. 1: Consent for Provision of Personal Information
2. Form Attached No. 2: Personal Information Protection Pledge

② If a user does not perform tasks using the Remittance Management System, the Relay Institution must immediately revoke the granted user authority.

Article 7 (Reporting Obligations of Reporting and Relay Institutions)

① Reporting Institutions and Relay Institutions must report data on overseas remittance transactions to the head of the Foreign Exchange Information Centralized Agency for each overseas remittance transaction.

② The reported content must include the items specified in <Appendix Table 1>.

③ Regarding the reporting deadline, reporting must be made in real-time for each overseas remittance transaction. However, in the case of Relay Institutions, they must report without delay from the time they receive data on overseas remittance transactions from Indirectly Connected Institutions.

Article 8 (Reporting Method)

① Reporting Institutions and Relay Institutions shall, in principle, report data on overseas remittance transactions via electronic documents through the Overseas Remittance Integrated Management System.

② If reporting through the Remittance Management System is impossible due to system failure or other reasons, reporting shall be conducted according to the methods specified in each of the following items:

1. In the case of temporary failure, report via electronic documents through the Remittance Management System immediately after the countermeasure is completed.
2. In cases where system repair is delayed, reporting may be conducted via auxiliary storage media, written documents, or other methods notified by the Director of the International Bureau, based on the judgment of the Director of the International Bureau.

Article 9 (Management of Remittance Limits and Verification of Reporting Accuracy)

① Reporting Institutions must fulfill the obligations specified in each of the following items to manage the remitter's remittance limit:

1. Appropriately determine whether the remittance transaction is subject to reporting.
2. Manage to prevent the remitter's limit from being exceeded due to omitted reporting, false reporting, or negligence. However, limit exceedance due to the remitter's intent or negligence is considered the responsibility of the remitter.
3. Reporting Institutions bear responsibility for the accuracy of data on overseas remittance transactions transmitted through the Remittance Management System.

Chapter 3 Operation of the Remittance Management System

Article 10 (Operating Hours)

The operating hours of the Remittance Management System shall be 24 hours a day, 365 days a year.

Article 11 (Data Storage and Deletion)

① Data on overseas remittance transactions must be stored as evidence of remittance limit management and business processing results, and to provide data to using institutions. The retention period is 5 years.

② Individual personal information within the personal information file must be deleted by the 5th day of the following year after the current year has passed.

Article 12 (User Authority Management)

① Users of the Bank of Korea's Remittance Management System must prepare and submit the forms specified in each of the following items for system use:

1. Form Attached No. 1: Consent for Provision of Personal Information
2. Form Attached No. 2: Personal Information Protection Pledge

② If a user does not perform tasks using the Remittance Management System, the Bank of Korea must immediately revoke the granted user authority.

Chapter 4 Using Institutions for Overseas Remittance Transaction Data

Article 13 (Scope of Using Institutions)

Among the using institutions specified in Article 16 of the Regulations, the following institutions may use data on overseas remittance transactions:

1. Reporting Institutions specified in Article 3 of these procedures
2. Ministry of Economy and Finance
3. National Tax Service
4. Korea Customs Service

Article 14 (User Authority Management of Using Institutions)

① Users of the Remittance Management System of Using Institutions must prepare and submit the forms specified in each of the following items for system use.

However, if documents specified in Article 4, Paragraph 1, Items 1 and 2 have been submitted in the capacity of a Reporting Institution, these may be omitted.

1. Form Attached No. 1: Consent for Provision of Personal Information
2. Form Attached No. 2: Personal Information Protection Pledge

② If a user does not perform tasks using the Remittance Management System, the Using Institution must immediately revoke the granted user authority.

Article 15 (Scope of Provided Data)

The specific scope of data provided to Using Institutions according to Article 15, Paragraph 2 of the Detailed Rules is as follows:

1. Annual cumulative remittance amount
2. Daily remittance details

Article 16 (Obligation to Confirm Remittance Limits)

① If a remitter requests an overseas remittance transaction, the Reporting Institution must confirm whether the remitter's un-documented remittance transaction limit has been exceeded.

② Reporting Institutions must implement appropriate measures accompanying the confirmation of the un-documented remittance transaction limit.

Article 17 (Execution of Remittance Transactions)

① If a remitter's overseas remittance transaction request is within the un-documented remittance transaction limit, the Reporting Institution shall execute the requested transaction.

② If the remitter exceeds the un-documented remittance transaction limit, the Reporting Institution shall notify the remitter of the exceedance and shall not execute the requested transaction. However, if the remitter requests a remittance transaction through a Foreign Exchange Bank among Reporting Institutions in accordance with Article 4-3, Paragraph 1, Item 2, Sub-item a, or Article 4-4, Paragraph 4, Item 1 of the Foreign Exchange Transactions Regulations, the requested transaction is exceptionally executed.

③ If overseas remittance transactions under the proviso of Paragraph 2 are repeated, the remitter shall be notified that such matters may be communicated to the National Tax Service and Korea Customs Service.

Article 18 (Execution of Remittance Transactions During System Failure)

If limit inquiry is impossible through the system due to computer failure or other reasons, Reporting Institutions may execute remittance transactions only if the requested overseas remittance transaction falls within the amount range specified in Article 4-3, Paragraph 1, Item 2, Sub-item a, or Article 4-4, Paragraph 4, Item 1 of the Foreign Exchange Transactions Regulations. However, this does not apply if the remitter intentionally exceeds the limit, such as by exploiting delays in remittance limit inquiries to execute double remittances.

Article 19 (Remitter's Request for Inspection)

① If a remitter requests inspection of daily remittance details from a Reporting Institution, the Reporting Institution receiving the request must allow the remitter to inspect the details.

② For the inspection specified in Paragraph 1, the following personal (credit) information processing related consent forms must be obtained:

1. In the case of adult customers: Form Attached No. 3: Consent for Third-Party Provision of Personal Information
2. In the case of minor customers: Form Attached No. 3: Consent for Third-Party Provision of Personal Information and Form Attached No. 4: Legal Representative's Consent Form

③ Reporting Institutions and Relay Institutions must not store the remitter's daily remittance details received from the Remittance Management System; in the event of a remitter's inspection request, they must inspect and query through the Remittance Management System.

Chapter 5 Supplementary Provisions

Article 20 (Measures for Reporting Institutions' Violation of Reporting Obligations)

The Director of the International Bureau may take measures specified in each of the following items when Reporting Institutions violate reporting obligations specified in Articles 7 and 9, according to Article 32 of the Detailed Rules:

1. If daily reporting omissions occur continuously 3 times or more, issue a notice urging attention to the concerned institution.
2. If the same standard is violated again after the measure in Item 1, request an explanation letter from the concerned institution.
3. If the reason for requesting an explanation letter occurs 3 times, notify the Financial Supervisory Service.

Supplementary Provisions (January 23, 2026)

Article 1 (Effective Date)

These procedures shall come into force on January 26, 2026.

---

<Appendix Table 1>

Essential Reporting Items for Remittance Management System

Reporting Category	Reporting Content	Remarks
Remitting Institution Information	Remitting Institution ID
Remitter Information	Account Information	Remitter Cumulative Amount Account ID
Recipient Information	Recipient Name
	Recipient Country
Remittance Information	Remittance Serial Number
	Request Date/Time
	Remittance Amount
	Remittance Currency
	USD Conversion Exchange Rate	Market Average Exchange Rate Applied
	USD Conversion Amount
	Remittance Purpose

---

<Form Attached No. 1>

Consent for Collection and Use of Personal Information for the Bank of Korea’s Overseas Remittance Integrated Management Service

The Bank of Korea intends to collect and use personal information as follows in accordance with Articles 15 and 22 of the "Personal Information Protection Act" for the use of the Overseas Remittance Integrated Management System (ORIS). Please read the content and decide whether to consent.

■ Required Information Collection and Usage Details

Purpose of Collection and Use	Items to be Collected and Used	Retention and Usage Period
Use of Overseas Remittance Integrated Management System Service	Member ID (Email Address), Password, Name, Institution Name, Department, Phone Number	Until application for withdrawal/cancellation

Do you consent to the collection and use of personal information as described above? ☐ Consent ☐ Do not consent

※ You have the right to refuse consent to the above collection and use of personal information. However, if you refuse consent, you may be restricted from using the Bank of Korea’s Overseas Remittance Integrated Management Service.

※ For details on the processing of personal information, please refer to the "Privacy Policy" on the Bank of Korea’s website (http://www.bok.or.kr).

Date: ___________ Year ___________ Month ___________ Day ___________

Applicant (Signature or Seal): _______________ Legal Representative (Signature or Seal): _______________

To: Governor of the Bank of Korea

---

<Form Attached No. 2>

Personal Information Protection Pledge

To: Governor of the Bank of Korea

I pledge to comply with the following matters in handling, operating, and managing personal information for business purposes in the Overseas Remittance Integrated Management System:

1. I am responsible for actual work such as collecting, storing, using, holding, providing, and destroying (hereinafter referred to as "processing") personal information, having access rights to personal information for business processing purposes, and I will comply with legal requirements for personal information protection.
2. I pledge not to disclose personal information learned during business processing, nor to use it for purposes other than those agreed upon by the data subject or for other improper purposes.
3. I pledge not to damage, lose, alter, forge, or leak personal information when processing it.
4. I pledge to take appropriate measures to maximize the rights of data subjects as defined by relevant laws.
5. I pledge to bear all civil and criminal liabilities, including compensation for damages to the Bank of Korea, in accordance with the "Personal Information Protection Act" and other relevant laws if I violate this pledge.

Date: ___________ Year ___________ Month ___________ Day ___________

Pledgor's Affiliation: _______________
Name: _______________ (Seal)

---

<Form Attached No. 3 (Korean)>

Consent for Third-Party Provision of Personal (Credit) Information for the Bank of Korea’s Overseas Remittance Integrated Management Service

The Bank of Korea seeks your consent for the third-party provision of personal (credit) information in accordance with relevant laws such as the "Credit Information Use and Protection Act" and the "Personal Information Protection Act" for the purpose of providing the Overseas Remittance Integrated Management Service. Please read the information below carefully and decide whether to give your consent.

1. Recipient:
   Banks (including foreign banks), securities companies, card companies, and small-amount remittance service providers engaged in small-amount overseas remittance business under the Foreign Exchange Transactions Act, among which is the financial institution that the data subject intends to use. (※ List of recipients: https://www.bok.or.kr/portal/main/contents.do?menuNo=201745)

2. Purpose of Use by Recipient: To provide the Overseas Remittance Integrated Management Service by the Bank of Korea for data subjects.

3. Personal Information Items Provided: Name, Remittance Date, Remitting Institution, Annual Non-documented Remittance Amount, Annual Cumulative Non-documented Remittances Amount.

4. Retention and Use Period by Recipient:
   Until the purpose of use is achieved* * However, it will be retained for the period specified under applicable laws and guidelines, and subsequently disposed of.

5. Right to Refuse Consent and Disadvantages of Refusal
   You have the right to refuse consent to the provision of personal (credit) information to third parties as described above. However, if you do not consent, you will not be able to use the Bank of Korea's Overseas Remittance Integrated Management Service.

Do you consent to the provision of personal (credit) information to third parties as described above? ☐ Consent ☐ Do not consent

※ For details on the processing of personal information, please refer to the "Privacy Policy" on the Bank of Korea’s website (http://www.bok.or.kr).

Date: ___________ Year ___________ Month ___________ Day ___________

Applicant (Signature or Seal): _______________ Legal Representative (Signature or Seal): _______________

To: Governor of the Bank of Korea

---

<Form Attached No. 3 (English)>

Consent Form for Third-Party Provision of Personal (Credit) Information for the BOK’s Overseas Remittance Integrated Management Service

The Bank of Korea is seeking your consent for the provision of personal (credit) information to third parties in accordance with relevant laws such as the "Credit Information Use and Protection Act" and the "Personal Information Protection Act" for the purpose of providing the Overseas Remittance Integrated Management Service. Please read the information below carefully and decide whether to give your consent.

1. Recipients:
   Among banks (including foreign banks), securities companies, card companies, and small-amount remittance service providers engaged in small-amount overseas remittance business under the Foreign Exchange Transactions Act, the financial institution that the data subject intends to use. (※ List of recipients: https://www.bok.or.kr/eng/main/contents.do?menuNo=400525)

2. Purpose of Use by Recipients: To provide the Overseas Remittance Integrated Management Service by the Bank of Korea for data subjects.

3. Personal Information Items Provided: Name, Remittance Date, Remittance Institution, Annual Non-documented Remittances Amount, Annual Cumulative Non-documented Remittances Amount.

4. Retention and Use Period by Recipients: Until the purpose of use has been achieved* * However, it will be retained for the period specified under applicable laws and guidelines, and subsequently disposed of.

5. Right to Refuse Consent and Disadvantages of Refusal
   You have the right to refuse consent to the provision of personal (credit) information to third parties as described above. However, if you do not consent, you will not be able to use the Bank of Korea's Overseas Remittance Integrated Management Service.

Do you consent to the provision of personal (credit) information to third parties as described above? ☐ Consent ☐ Do not consent

※ For details on the processing of personal information, please refer to the "Privacy Policy" on the Bank of Korea’s website (http://www.bok.or.kr).

Date: ___________
Applicant (Signature or Seal): _______________ Legal Representative (Signature or Seal): _______________ To: Governor of the Bank of Korea

---

<Form Attached No. 4 (Korean)>

Consent for Collection, Use, and Third-Party Provision of Personal Information for Legal Representatives of Children Under 14

The Bank of Korea intends to collect and use personal information as follows in accordance with Articles 15 and 22 of the "Personal Information Protection Act" for the purpose of providing the Overseas Remittance Integrated Management Service for children under 14 years of age. Please read the content and decide whether to give your consent.

■ Required Information Collection and Usage Details

Purpose of Collection and Use	Items to be Collected and Used	Retention and Usage Period
Verification of Legal Representative's Consent for Provision of Bank of Korea’s Overseas Remittance Integrated Management Service for Children Under 14	Name, Date of Birth, Authentication Method (e.g., Mobile Phone), Consent Result	Destroyed upon achievement of intended purpose

※ You have the right to refuse consent to the above collection and use of personal information. However, if you refuse consent, the data subject will not be able to use the Bank of Korea’s Overseas Remittance Integrated Management Service.

Do you consent to the collection and use of personal information as described above? ☐ Consent ☐ Do not consent

- Provision of Personal Information to Third Parties

Recipient	Purpose of Provision	Items Provided	Retention Period
Bank of Korea	Verification of Legal Representative's Consent for Provision of Bank of Korea’s Overseas Remittance Integrated Management Service for Children Under 14	Name, Date of Birth, Authentication Method (e.g., Mobile Phone), Consent Result	Destroyed upon achievement of intended purpose

※ You have the right to refuse consent to the provision of personal information to third parties. However, if you refuse consent, the data subject will not be able to use the Bank of Korea’s Overseas Remittance Integrated Management Service.

Do you consent to the provision of personal information as described above? ☐ Consent ☐ Do not consent

※ For details on the processing of personal information, please refer to the "Privacy Policy" on the institution's website (http://www.bok.or.kr).

Date: ___________ Year ___________ Month ___________ Day ___________

Applicant (Signature or Seal): _______________ To: Governor of the Bank of Korea

---

<Form Attached No. 4 (English)>

Consent Form for Collection, Use and Provision of Personal Information to Third Parties for Legal Representatives of Children Under 14

The Bank of Korea seeks your consent to collect and use personal information, in accordance with Articles 15 and 22 of the Personal Information Protection Act, for the purpose of providing the Overseas Remittance Integrated Management Service for children under the age of 14. Please read the following and decide whether to give consent.

- Required Information Collection and Usage Details

Purpose of Collection and Use	Items to be Collected and Used	Retention and Usage Period
To verify consent of the legal representative for the provision of the Bank of Korea’s Overseas Remittance Integrated Management Service for children under 14	Name, date of birth, authentication method (e.g., mobile phone), consent result	Destroyed upon achievement of the intended purpose

※ You have the right to refuse consent to the above collection and use of personal information. However, if you do not consent, the data subject will not be able to use the Bank of Korea’s Overseas Remittance Integrated Management Service.

Do you consent to the collection and use of personal information as described above? ☐ Consent ☐ Do not consent

- Provision of Personal Information to Third Parties

Recipient	Purpose of Provision	Items Provided	Retention Period
Bank of Korea	To verify consent of the legal representative for the provision of the Bank of Korea’s Overseas Remittance Integrated Management Service for children under 14	Name, date of birth, authentication method (e.g., mobile phone), consent result	Destroyed upon achievement of the intended purpose

※ You have the right to refuse consent to the provision of personal information to third parties. However, if you do not consent, the data subject will not be able to use the Bank of Korea’s Overseas Remittance Integrated Management Service.

Do you consent to the provision of personal information to third parties as described above? ☐ Consent ☐ Do not consent

※ For more details regarding the processing of personal information, please refer to the “Privacy Policy” on the Bank of Korea website (http://www.bok.or.kr).

Date: ___________
Applicant (Signature or Seal): ____________________________ To: Governor of the Bank of Korea