# South Korea

## Domestic Payment (real-time)

### Overview

table
tr
td
Available
td
Yes
tr
td
code
targetCurrency
td
Korean Won (KRW)
tr
td
code
countryCode
td
KR
tr
td
Earliest Beneficiary Credit
td
real-time
tr
td
Cut-Off Time (UK Time)
td
N/A
tr
td
Decimal Places
td
0
tr
td
Minimum 
code
targetAmount
td
1
tr
td
Maximum 
code
targetAmount
td
1000000000
### Submission data

| API field name | Required? | Field length | Description |
|  --- | --- | --- | --- |
| `bankDetails.beneficiaryAccountNumber` | ✅ | 11-16 | Account number of the beneficiary (bank). |
| `bankDetails.swiftBic` | ✅ | 8 or 11 | The SWIFT BIC is the Bank Identification Code of the beneficiary bank. |
| `bankDetails.bankName` | ✅ | Max 35 | Name of the beneficiary bank. |
| `bankDetails.bankCode` | ✅ | 3 | Enter your bank code, which is exactly 3 digits in length |
| `parties.personalDetails.partyTypeCode` | ✅ | 4 | Type of the party.**Must be**:`PT03 (Beneficiary)` |
| `parties.personalDetails.typeCode` | ✅ | 4 | Entity description code for the party.**Available values:**`PD01 (Company)``PD02 (Individual)` |
| `parties.personalDetails.titleCode` | Conditional | 4 | Title code for the Individual.**Available values**:`TI01 (Ms)``TI02 (Miss)``TI03 (Mr)``TI04 (Mrs)``TI05 (Dr)``TI06 (Mx)``TI99 (Misc)`  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.firstName` | Conditional | Max 50 | Beneficiary first name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.middleName` | ❌ | Max 50 | Beneficiary middle name. |
| `parties.personalDetails.lastName` | Conditional | Max 50 | Beneficiary last name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.companyName` | Conditional | Max 140 | Full name of the organization.  Failure to provide the full name could result in delays and potential rejection of your payment. This must consist of 2 words, separated by a space. To whitelist any other naming format please contact your Relationship Manager   Mandatory if `parties.personalDetails.typeCode` is:`PD01 (Company)``PD03 (Institution)``PD04 (Government)``PD99 (Other)`  |
| `parties.personalDetails.dateOfBirth` | ❌ | 10 | Beneficiary's date of birth in YYYY-MM-DD format. |
| `parties.telephony.phoneNumber` | ✅ | 5-34 | Beneficiary's phone number. |
| `parties.telephony.prefix` | ✅ | 1-3 | Beneficiary's phone number prefix. |
| `parties.address.street` | ❌ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) house number/name and street e.g. 1 Main Street. |
| `parties.address.additionalAddressLine` | ❌ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) address e.g. apartment no., unit, studio. |
| `parties.address.city` | ❌ | Max 35 | Beneficiary's city or town of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.postCodeOrZipCode` | ❌ | Max 16 | Beneficiary's postal code or zip code of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.countryCode` | ❌ | 2 | Beneficiary's country of their residential (if payee is an individual) or registered (if payee is a company) address.Enter the [2 character ISO 3166-1 standard country code](http://www.iso.org/iso/country_codes) in your API request. |


Important
[Additional data](/products/account-payouts/v2/coverage/additionalinfo) is required if the requestor of the payout is a Payment Service Provider (PSP) or Money Service Business (MSB).

## Domestic Wire Payment

### Overview

table
tr
td
Available
td
Yes
tr
td
code
targetCurrency
td
Korean Won (KRW)
tr
td
code
countryCode
td
KR
tr
td
Earliest Beneficiary Credit
td
T+1
tr
td
Cut-Off Time (UK Time)
td
15:00
tr
td
Decimal Places
td
0
tr
td
Minimum 
code
targetAmount
td
1
tr
td
Maximum 
code
targetAmount
td
99999999
### Submission data

| API field name | Required? | Field length | Description |
|  --- | --- | --- | --- |
| `purposeOfPaymentNarrative` | ✅ | Max 35 | Description for purpose of payment. |
| `bankDetails.beneficiaryAccountNumber` | ✅ | 11-16 | Account number of the beneficiary (bank). |
| `bankDetails.swiftBic` | ✅ | 8 or 11 | The SWIFT BIC is the Bank Identification Code of the beneficiary bank. |
| `bankDetails.bankName` | ✅ | Max 35 | Name of the beneficiary bank. |
| `parties.personalDetails.partyTypeCode` | ✅ | 4 | Type of the party.**Must be**:`PT03 (Beneficiary)` |
| `parties.personalDetails.typeCode` | ✅ | 4 | Entity description code for the party.**Available values:**`PD01 (Company)``PD02 (Individual)` |
| `parties.personalDetails.titleCode` | Conditional | 4 | Title code for the Individual.**Available values**:`TI01 (Ms)``TI02 (Miss)``TI03 (Mr)``TI04 (Mrs)``TI05 (Dr)``TI06 (Mx)``TI99 (Misc)`  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.firstName` | Conditional | Max 50 | Beneficiary first name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.middleName` | ❌ | Max 50 | Beneficiary middle name. |
| `parties.personalDetails.lastName` | Conditional | Max 50 | Beneficiary last name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.companyName` | Conditional | Max 140 | Full name of the organization.  Failure to provide the full name could result in delays and potential rejection of your payment. This must consist of 2 words, separated by a space. To whitelist any other naming format please contact your Relationship Manager   Mandatory if `parties.personalDetails.typeCode` is:`PD01 (Company)``PD03 (Institution)``PD04 (Government)``PD99 (Other)`  |
| `parties.personalDetails.dateOfBirth` | ❌ | 10 | Beneficiary's date of birth in YYYY-MM-DD format. |
| `parties.telephony.phoneNumber` | ✅ | 5-34 | Beneficiary's phone number. |
| `parties.telephony.prefix` | ✅ | 1-3 | Beneficiary's phone number prefix. |
| `parties.address.street` | ✅ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) house number/name and street e.g. 1 Main Street. |
| `parties.address.additionalAddressLine` | ❌ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) address e.g. apartment no., unit, studio. |
| `parties.address.city` | ✅ | Max 35 | Beneficiary's city or town of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.postCodeOrZipCode` | ✅ | Max 16 | Beneficiary's postal code or zip code of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.countryCode` | ✅ | 2 | Beneficiary's country of their residential (if payee is an individual) or registered (if payee is a company) address.Enter the [2 character ISO 3166-1 standard country code](/products/reference/supported-countries-currencies#iso-country-codes) in your API request. |


Important
[Additional data](/products/account-payouts/v2/coverage/additionalinfo) is required if the requestor of the payout is a Payment Service Provider (PSP) or Money Service Business (MSB).

Important
If the amount is between USD 5,000 and USD 50,000 then the beneficiary will be contacted by the partner bank branch in South Korea to provide his/her national ID (for first payment).

Important
For payments above USD 50,000, the partner bank branch in South Korea will directly contact the beneficiary to obtain required documentation to evidence the purpose of payments and the payment will be processed only after receipt of this documentation.

Important
KRW payment instructions to a beneficiary account with Kakao Bank (beneficiary bank) will be returned and will not be processed.

## International WIRE

### Overview

table
tr
td
Available
td
Yes
tr
td
code
targetCurrency
td
a
Available WIRE currencies
tr
td
code
countryCode
td
KR
tr
td
Earliest Beneficiary Credit
td
The estimated delivery time will vary by country and currency.
tr
td
Cut-Off Time (UK Time)
td
a
Currency specific
tr
td
Decimal Places
td
0
tr
td
Minimum 
code
targetAmount
td
1
tr
td
Maximum 
code
targetAmount
td
9999999
### Submission data

| API field name | Required? | Field length | Description |
|  --- | --- | --- | --- |
| `bankDetails.beneficiaryAccountNumber` | ✅ | Max 20 | Account number of the beneficiary. |
| `bankDetails.bankCode` | ❌ | Max 35 | Bank code of the beneficiary (bank). |
| `bankDetails.branchCode` | ❌ | Max 35 | Branch code of the beneficiary (bank). |
| `bankDetails.swiftBic` | ✅ | 8 or 11 | The SWIFT BIC is the Bank Identification Code of the beneficiary bank. |
| `bankDetails.bankName` | ✅ | Max 35 | Name of the beneficiary bank. |
| `parties.personalDetails.partyTypeCode` | ✅ | 4 | Type of the party.**Must be**:`PT03 (Beneficiary)` |
| `parties.personalDetails.typeCode` | ✅ | 4 | Entity description code for the party.**Available values:**`PD01 (Company)``PD02 (Individual)` |
| `parties.personalDetails.titleCode` | Conditional | 4 | Title code for the Individual.**Available values**:`TI01 (Ms)``TI02 (Miss)``TI03 (Mr)``TI04 (Mrs)``TI05 (Dr)``TI06 (Mx)``TI99 (Misc)`  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.firstName` | Conditional | Max 50 | Beneficiary first name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02`  |
| `parties.personalDetails.middleName` | ❌ | Max 50 | Beneficiary middle name. |
| `parties.personalDetails.lastName` | Conditional | Max 50 | Beneficiary last name. Full name should be provided (no initials).  Mandatory if `parties.personalDetails.typeCode` is:`PD02 (Individual)`  |
| `parties.personalDetails.companyName` | Conditional | Max 140 | Full name of the organization.  Failure to provide the full name could result in delays and potential rejection of your payment. This must consist of 2 words, separated by a space. To whitelist any other naming format please contact your Relationship Manager   Mandatory if `parties.personalDetails.typeCode` is:`PD01 (Company)``PD03 (Institution)``PD04 (Government)``PD99 (Other)`  |
| `parties.personalDetails.dateOfBirth` | ❌ | 10 | Beneficiary's date of birth in YYYY-MM-DD format. |
| `parties.address.street` | ❌ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) house number/name and street e.g. 1 Main Street. |
| `parties.address.additionalAddressLine` | ❌ | Max 35 | Beneficiary's residential (if payee is an individual) or registered (if payee is a company) address e.g. apartment no., unit, studio. |
| `parties.address.city` | ❌ | Max 35 | Beneficiary's city or town of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.postCodeOrZipCode` | ❌ | Max 10 | Beneficiary's postal code or zip code of their residential (if payee is an individual) or registered (if payee is a company) address. |
| `parties.address.countryCode` | Conditional | 2 | Beneficiary's country of their residential (if payee is an individual) or registered (if payee is a company) address.  Mandatory if any of the optional Beneficiary address details are provided. Enter the [2 character ISO 3166-1 standard country code](/products/reference/supported-countries-currencies#iso-country-codes) in your API request.  |


Important
[Additional data](/products/account-payouts/v2/coverage/additionalinfo) is required if the requestor of the payout is a Payment Service Provider (PSP) or Money Service Business (MSB).