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Stock trading in Korea for international students
« on: November 30, 2019, 10:48:20 pm »
Hello everyone, I'm foreign student in Seoul, I wanted to know, can i open account here for trading with Korean stocks(only Korean stocks)?
I have a D-2 visa and don't have a large amount for initial deposit, I can start with about 2,000,000 won ($2,000).
I'm not interested in advice on whether to trade shares here, etc. I just want to know whether it is possible to open account for foreign students here, and if so, where exactly.

Re: Stock trading in Korea for international students
« Reply #1 on: December 01, 2019, 02:55:16 pm »
There are quite a few brokerages in Korea. The two most well known are probably Samsung Securities (삼성증권) and Mirae Assets (미래에셋). You can search for others by searching 증권회사 on Naver. 

I donít know if a D2 visa can open an account. Personally if I were operating a business I would take anyoneís business regardless of their visa type but govt regulations arenít exactly always logical business friendly. Best to phone and ask directly. 

Also Iíve found a lot of bankers and related industry ppl here tend to be lazy when they deal with foreigners in that they deal with foreigners at such a low frequency theyíd rather lie to you and say foreigners canít do XYZ than do the actual research about how to do XYZ for foreigners (financial regulations for foreigners are very different compared to for Korean nationals). So if you suspect the first person you talk to to be lying, just be polite and end the conversation, then go to another branch to see if they say the same thing. I once had to go to 3 different branches before getting what I wanted. Dress formally when you go there and only speak in English, and be patient if the person doesnít speak English well. I personally think they treat you as a higher class citizen than if you dress casually and speak Korean to them. 

The last paragraph is just a personal anecdote based on my experience. I could very well be speaking out of my ass hehe.

Good luck in the markets!
« Last Edit: December 01, 2019, 03:03:52 pm by teacher1988 »