Korea Investment & Securities Obtains Approval for General Foreign Exchange Services

Korea Investment & Securities announced on December 10 that it has received approval from the Ministry of Economy and Finance to conduct general foreign exchange services.

General foreign exchange services provide currency exchange for general purposes such as travel and study abroad to residents of South Korea with Korean nationality. When applying, a bank-linked account for foreign currency deposits and withdrawals is issued, but investment activities through this account are restricted.

As a comprehensive financial investment business entity, Korea Investment & Securities has been offering general foreign exchange services for corporations and investment-purpose currency exchange for individual clients. With this new approval, the company can now also provide general foreign exchange services for individual customers. Through this, Korea Investment & Securities aims to enhance accessibility to currency exchange for those with real foreign currency needs, such as overseas travel, study abroad, and remittances, while also enabling customers to manage both investment and general-purpose foreign currency assets in a one-stop integrated manner, thereby improving customer convenience.

A representative from Korea Investment & Securities stated, "With this approval for general foreign exchange services, we expect to offer customers better exchange rates and more convenient financial services," adding, "We will continue to expand our customized services in line with the growing trend of overseas investment and international transactions becoming part of everyday life."

This content was produced with the assistance of AI translation services.