Payouts to South Korea
Pay Korean won from USDT or USDC
South Korea is a manufacturing and technology corridor: electronics and component suppliers, game and software studios, and the agencies that Korean brands hire abroad all invoice in won. XEROF pays KRW to a Korean bank account from a USDT or USDC balance, business to business, business to consumer and consumer to business.
How a payout to South Korea works
Two tiers: real-time transfers up to KRW 6,000,000 per payment, and standard transfers for business to business payments up to KRW 500,000,000.
- Payout currency
- KRW
- Paid to
- Bank account in South Korea
- Payment types
- B2B (business to business), B2C (business to consumer), C2B (consumer to business)
- Maximum per payment
- KRW 6,000,000 per payment in real time; business to business KRW 500,000,000
- Rails
- Real-time transfer up to KRW 6,000,000; standard transfer for larger business payments
- Pricing
- Per corridor: the KRW leg is quoted per payment on the confirmation
Who pays Korean won this way
- A company settling a Korean component or equipment supplier's invoice in won by standard transfer.
- A business paying Korean developers, artists or agencies in real time.
- A private client paying a Korean business against an invoice within the real-time tier.
Paying South Korea from Zug: timing and practicalities
Seoul is seven to eight hours ahead of Zug. Real-time won transfers confirmed during the Swiss working day are credited the same Korean day; standard business to business transfers settle on the next Korean banking day. Korean banks close for Chuseok and the Lunar New Year.
Korea's real-name account system means the beneficiary name must match the account holder exactly, and companies supply their business registration number. The two-tier limit, KRW 6,000,000 in real time and KRW 500,000,000 for business to business standard transfers, is chosen when the beneficiary is set up.
What XEROF needs before the first payment
- Beneficiary name, bank and account number, with business registration number for a company.
- The invoice or contract the payment settles.
A worked example in KRW
- You send
- USDT 100,000 on ERC-20
- XEROF converts
- USD 100,000 equivalent at the live rate
- Beneficiary receives
- KRW to the supplier's account by standard transfer, within the business to business limit
- Fees on this example
- Brokerage fee (minimum USD 200) plus the quoted KRW leg
Common questions
- Which payments use the KRW 500,000,000 tier?
- Business to business payments by standard transfer. Real-time transfers, including to individuals, are capped at KRW 6,000,000 per payment.
- What is the maximum for a KRW payout to South Korea?
- KRW 6,000,000 per payment in real time; business to business KRW 500,000,000, set by the receiving market.
South Korea: limits set by the receiving market, availability subject to screening and partner requirements, indicative and not an offer. See the coverage table.
Open a XEROF account to pay Korean won in South Korea.