Sending country · World Bank RPW · KR
Send money from South Korea
Corridor breadth is low-tercile (2 destinations) - a narrow destination set versus denser send markets.
- 5.5%
- Avg outbound cost
- 2.0%
- Cheapest · to Vietnam
- $14.3B
- Sent per year
- 2
- Destination corridors
Corridor-breadth tercile vs fleet
South Korea quotes 2 destination countries, below the fleet breadth tercile (~3 corridors). Average outbound cost is 5.5%.
- #9 of 34
- WDI outflow corpus rank
- 5.5%
- average outbound cost
- 2.0%
- cheapest destination: Vietnam
- $14.3B
- sent annually
South Korea among sending countries: volume vs. cost
South Korea sits at the 76th percentile for outbound volume among 34 tracked sending countries - the 30 largest senders plotted below by annual outflow and average cost, South Korea highlighted.
Sending countries by volume and cost: United States, $107.1B annual outflow, 5.53% average cost. Saudi Arabia, $58.69B annual outflow, 6.09% average cost. Switzerland, $42.68B annual outflow, 6.94% average cost. Germany, $26.67B annual outflow, 4.96% average cost. France, $20.8B annual outflow, 7.31% average cost. Kuwait, $16.74B annual outflow, 3.54% average cost. Australia, $15.86B annual outflow, 7.38% average cost. Canada, $15.11B annual outflow, 5.77% average cost. South Korea (this country), $14.31B annual outflow, 5.49% average cost. Italy, $13.91B annual outflow, 8.04% average cost. United Kingdom, $13.17B annual outflow, 5.08% average cost. India, $12.08B annual outflow, 6.32% average cost. Qatar, $12.06B annual outflow, 6.02% average cost. Belgium, $11.22B annual outflow, 3.13% average cost. Austria, $10.81B annual outflow, 4.57% average cost. Thailand, $9.98B annual outflow, 11.87% average cost. Russia, $8.86B annual outflow, 3.03% average cost. Japan, $7.17B annual outflow, 10.69% average cost. Norway, $6.29B annual outflow, 3.66% average cost. Czech Republic, $5.96B annual outflow, 6.27% average cost. Poland, $5.6B annual outflow, 3.73% average cost. Sweden, $4.2B annual outflow, 6.65% average cost. Brazil, $1.86B annual outflow, 12.62% average cost. Israel, $1.62B annual outflow, 13.13% average cost. Ghana, $1.31B annual outflow, 13.29% average cost. Dominican Republic, $1.17B annual outflow, 7.68% average cost. New Zealand, $1.14B annual outflow, 8.39% average cost. South Africa, $1.13B annual outflow, 16.9% average cost. Spain, $0.79B annual outflow, 5.65% average cost. Chile, $0.69B annual outflow, 4.93% average cost.
Outbound cost bands from South Korea
2 destination corridors counted once by recorded average cost on a $200 send. The four bands sum to 2.
HIGH High-fee 5–8% lane · country average 5.5%
Cheapest Corridors from South Korea
Narrow destination set from South Korea
Only 2 destination countries are quoted from South Korea - below the fleet breadth tercile (~3). Average outbound cost is 5.49%.
The three cheapest outbound corridors from South Korea right now are Vietnam at 2.01% via Woori Bank, China at 3.08% via Industrial Bank of Korea. These are floor prices on a $200 transfer from South Korea, fee plus FX margin.
With a thin destination set, corridor choice is limited; the actionable lever is provider comparison on the few quoted routes rather than hunting a missing receive country.
About South Korea outbound data
PlainRemit compares international money-transfer costs across tracked corridors so you can see which routes and providers charge the least before you send money abroad. This country's figures are computed directly from the World Bank Remittance Prices Worldwide (RPW) quarterly survey, a mystery-shopping panel of actual transfer quotes for a standardized $200 transfer. The UN Sustainable Development Goal 10.c target is to reduce remittance transaction costs to below 3% by 2030; always verify current rates directly with providers before sending money, rates change frequently.
Average outbound cost 5.49%; 2 destination corridors tracked from South Korea; vintage 2026-08-10.
Frequently Asked Questions
How much money does South Korea send in remittances each year?
South Korea sends about $14.3B a year - upper outflow tercile among WDI-tracked senders - to 2 RPW destination countries at 5.49% average outbound cost.
What are the cheapest countries to send money to from South Korea?
On World Bank RPW $200 sends, the cheapest outbound floors from South Korea are to Vietnam, China, as low as 2.01%. Country average outbound cost is 5.49% (lower fleet tercile).
How have remittance costs from South Korea changed over time?
South Korea's current average outbound cost is 5.49%, below the fleet lower tercile (~5.5%) and 0.9 pp under the ~6.4% global RPW average. RPW has tracked this send market since 2011.
How do I compare money transfer services?
To compare money transfer services from South Korea, look at three factors: (1) total cost as a percentage of your transfer amount, including both the service fee and exchange rate margin, (2) delivery speed, and (3) payment and payout methods available in your destination country. World Bank RPW data, used here, standardizes costs as a percentage of a $200 transfer. Always verify current rates directly with providers before sending.
Where does South Korea sit among remittance-sending countries?
According to World Bank WDI remittance outflows among 34 tracked sending countries on PlainRemit, South Korea ranks #9 of 34 by annual dollars sent. /send-from browses alphabetically; this outflow ordinal is the analytical placement basis.