Overseas payments for global projects are settled in Korean Won (KRW) just like domestic projects, and there is no need to open a separate foreign currency account or report foreign exchange.
✅ Essential checklist for global project overseas payment settlement
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You can receive settlement with just a domestic account.
Overseas payments are converted to Korean Won by Wadiz and paid out, so makers do not need to prepare a separate foreign currency account. -
There is no obligation to report foreign exchange transactions.
Wadiz receives overseas payments in Korean Won through a PG company and pays makers in Korean Won as well, so there is no separate reporting obligation under the Foreign Exchange Transactions Act.