The Financial Supervisory Service (FSS) has revised its Financial Guide Book for Foreigners to reflect changes in domestic market conditions. The publication is available in English, Vietnamese, Chinese, Thai, Tagalog (Philippines), Cambodian, Russian and Indonesian. (FSS)
By Min Yea-Ji
The Financial Guide Book for Foreigners in Korea, a source of financial information for foreign residents of the country, has been published in eight languages to mark its seventh anniversary.
The Financial Supervisory Service (FSS) on Nov. 8 gave the reason for its revision of the guide, saying, "Recent rapid changes on the financial market like the appearance of new products and damage caused by financial crimes committed by foreign nationals have raised demand for a variety of finance information needed for daily life."
The guide is available in English, Vietnamese, Chinese, Thai, Tagalog (Philippines), Cambodian, Russian and Indonesian.
The latest edition contains updates on the domestic financial system, statistics and relevant cases that reflect changes in the financial environment. For example, the section "Simulation" shows images of each stage of a financial transaction that can be easily understood and provides tips to maximize the guide's usefulness.
The FSS also reinforced content related to frequently used cards in the country and commonly needed insurance types like those for car and indemnity. Specialized services for each bank related to overseas remittances, a major concern for expats, and small overseas remittances using fintech were also added.
The guide describes specific cases of financial fraud most likely to target foreign residents like damage incurred from voice phishing-related withdrawals, fake bank accounts and insurance fraud, as well as how to cope with them.
The FSS will distribute the guide to places like multicultural family support centers and banks offering services for foreign customers. The booklet can also be downloaded free as a PDF file from the regulatory body's e-financial education center (fss.or.kr/edu), the multicultural family site Danuri Portal and Hi Korea, an e-government service site for expats in the country.
jesimin@korea.kr
