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FSS to open currency exchange info website

All News 12:00 February 09, 2017

SEOUL, Feb. 9 (Yonhap) -- South Korea's financial authorities said Thursday they will offer a consolidated information service on foreign currency exchange starting later this week for a growing number of outbound travelers.

A total of 22.7 million people left South Korea for foreign countries last year alone, the Financial Supervisory Service (FSS) said, citing data from the Justice Ministry's immigration office.

Many South Koreans also engage in overseas financial transactions for businesses or families living abroad.

Responding to the growing demand, the FSS said it plans to open a separate website Friday in partnership with the Korea Federation of Banks, which can be accessed at the addresses http://fine.fss.or.kr, http://exchange.kfb.or.kr and http://www.kfb.or.kr.

Among the content of the website are types of currency available for exchange via the Internet and detailed fees charged by banks, plus a list of bank branches where foreign coins can be exchanged.

It also introduces the highlight of legislation on foreign exchange trade for ordinary people.

Travelers exchange currencies at Incheon International Airport in this undated file photo. (Yonhap)


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