Receiving country · World Bank RPW · KR
Send money to South Korea
Inbound average cost sits in the upper fleet tercile at 19.4% across 1 source corridors - recipients absorb more than typical RPW-tracked markets.
- 19.4%
- Avg inbound cost
- 8.0%
- Cheapest · from Japan
- $7.1B
- Received per year
- 1
- Source corridor
Inbound-cost tercile vs fleet
South Korea posts a 19.4% average inbound cost, above the fleet upper tercile (~7.8%) - across 1 source corridor. Cheapest tracked floor: 8.0% from Japan.
- #21 of 53
- WDI inflow corpus rank
- 19.4%
- average inbound cost
- 8.0%
- cheapest source: Japan
- $7.1B
- received annually
Cheapest Ways to Send Money to South Korea
All Corridors to South Korea
| # | From | Avg cost | Cheapest | Cheapest provider |
|---|---|---|---|---|
| 1 | Japan | 19.4% | 8.0% | NTT Docomo |
High inbound cost into South Korea
World Bank RPW tracks 1 inbound corridors into South Korea at an average 19.39% - above the fleet upper tercile (~7.8%). Recipients here absorb more than typical RPW markets, 13.0 pp above the ~6.4% global average.
The three cheapest inbound corridors to South Korea right now are from Japan at 7.97% via NTT Docomo. These are floor prices on a $200 transfer into South Korea, fee plus FX margin.
On a high-cost receive market, comparing the cheapest provider on the specific corridor matters more than picking a household brand - within-corridor price dispersion often exceeds the gap between the cheapest and dearest origins.
About South Korea inbound 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 inbound cost 19.39%; 1 source corridor tracked to South Korea; vintage 2026-08-10.
Frequently Asked Questions
How much money is sent to South Korea each year?
South Korea receives about $7.1B a year from 1 RPW source countries at 19.39% average inbound cost.
What is the cheapest way to receive money in South Korea?
On World Bank RPW $200 sends, the cheapest inbound floors into South Korea are from Japan, as low as 7.97%. Country average inbound cost is 19.39% (upper fleet tercile).
How have remittance costs to South Korea changed over time?
South Korea's current average inbound cost is 19.39%, above the fleet upper tercile (~7.8%) and 13.0 pp above the ~6.4% global RPW average. RPW has tracked this receive market since 2011; UN SDG 10.c still targets ≤3% by 2030.
Where does South Korea sit among remittance-receiving countries?
According to World Bank WDI remittance inflows among 53 tracked receiving countries on PlainRemit, South Korea ranks #21 of 53 by annual dollars received. /send-to browses alphabetically; this inflow ordinal matches the largest-receivers research ranking.