Are there any amount restrictions when ordinary citizens exchange currency at a currency exchange office registered with the customs office? Released

Yes, when ordinary citizens exchange currency through a currency exchange office registered with the customs office, there are some restrictions.

This is a measure to maintain the stability of the foreign exchange market and prevent illegal money laundering.

The main restrictions are as follows.

1. When using offline (general) currency exchange offices:

    a) Foreign currency sale (buying foreign currency with won): There is no limit on the amount. You can purchase as much foreign currency as needed.

    b) Foreign currency purchase (exchanging foreign currency for won): It is only possible within the range of USD 2,000 or less per day. However, in the case of currency exchange offices using an electronic currency exchange ledger management system, it is possible to purchase up to USD 4,000 per day. This limit is to prevent illegal foreign exchange transactions and maintain transparent exchange records.

2. When using online and unmanned currency exchange machines:

    a) Both foreign currency purchase and sale: It is limited to within USD 2,000 or less per day. Again, for those using an electronic currency exchange ledger management system, it is possible up to USD 4,000. This is a measure to more strictly manage the flow of funds considering the nature of non-face-to-face transactions.

You can access the customs office website (www.customs.go.kr) > 'Notice & News' menu > 'Currency Exchange Operators' section to view the list of registered currency exchange offices nationwide. 

It is important to check whether the office is officially registered before using the currency exchange service.