Essential Apps for Living in Korea: A Step-by-Step Guide

For anyone new to Korea, there are two things you'll need right away: getting around and paying for things. As you settle in, banking and finances will be the next on the list. If you're not sure where to start, this guide has you covered. 

1. Month 1: Getting Around and Paying Without an ARC

As you begin life in Korea, you should start with sorting out transportation and payments.  At this point, you probably don't have your ARC yet, so here are some options that work without one.

(1) Getting Around

① Which map app should you use in Korea?

For navigation in Korea, local apps such as Naver Map and Kakao Map are more reliable than Google Maps. Domestic apps provide bus and subway transfer routes, real-time arrival information, and more.

② How do you pay for public transit in Korea?

Korea's public transportation system is entirely cashless, meaning you'll need a transit card to ride. Your two options are a rechargeable prepaid card or a postpaid credit/debit card.

• Prepaid (chargeable) cards such as T-money and Cashbee can be purchased at convenience stores and used immediately after topping up.
• Postpaid cards require a bank account for automatic billing. However, they're not available for those that don't have an ARC yet.

(2) Making Payments

Card payments are far more common than cash in Korea. Most credit and debit cards come with a built-in transit function, meaning one card can handle both your spending and transit.

As a foreigner living in Korea, you normally have two options.

① Prepaid card (no ARC required)

Prepaid cards require you to load money onto them before use. You don't need an ARC for prepaid cards, so this makes it a feasible option for newly arriving foreigners. Choosing a prepaid card with a built-in transit function means you do not need to buy a separate transit card. Prepaid cards can be purchased and topped up at most banks, convenience stores, and self-service kiosks.

② Debit card (체크카드) (ARC required)

Once you get your ARC, you can open a bank account and get a debit card at most Korean banks. If you get a debit card that has a postpaid transit feature, you won't have to worry about topping it up. The fare is billed and paid from your account later.

2. Months 3–6: Managing All Your Bank Accounts from One App

In Korea, it's quite common to have multiple bank accounts. For instance, you may have one for salary deposits and a different one for everyday expenses. Keeping track of multiple accounts across different banks means logging into several apps separately, making it difficult to get a clear overview of your finances all at once.

That's why you need Toss. Let's take a look at the features that make handling money in Korea so much easier.

① Manage all your bank accounts in one app with MyData (마이데이터)

Simply add all your bank accounts to Toss, and you're set. From there, you can check your balances, browse your transaction history, and send money all in one place. No need to go logging into separate banking apps.

This is made possible by Korea's MyData system, a government-regulated framework that allows financial data from multiple institutions to be viewed through a single app. MyData only allows Toss to view balances and transaction history. It might feel like a lot to link everything in one place, but it's a secure system. All transfers and payments require a PIN or biometric authentication, so your money stays completely safe.

② Auto-track your expenses with Spending Insights (소비 분석)

With your consent to MyData, Toss automatically categorizes your payments into groceries, transit, shopping, and more. You don't need to input manually or use a separate app. This gives you a clear breakdown of your monthly spending, which can be particularly useful when you are still getting a sense of the cost of living in Korea.

3. Months 6+: More Features Once You Are Settled In

Once you get settled in, try out a couple of more useful features on Toss. These are small but handy additions that can make day-to-day life in Korea a little easier.

① Earning points daily with Toss Rewards (혜택)

Go to the Rewards tab in the Toss app to complete quick daily missions to earn points. Points can be used like cash or cashed out directly to your bank account. The amounts are modest, but they add up over time.

② Can foreigners use Korean food delivery apps?

Yes, food delivery apps are available to foreigners. They work the same way as any other app: set your address, select a menu, and pay. Keep in mind most stores will have a minimum order amount and a separate delivery fee, so make sure to double check before you order.

For paying on delivery apps, consider setting up Toss Pay (토스페이). It allows you to complete purchases without having to enter your card details every time. Transactions are automatically reflected in the Spending Insights feature, and this helps you keep track of your spending. Depending on the delivery app, Toss Pay may also offer additional discounts or rewards.

Whether you need to manage accounts, track spending, make quick payments, or earn daily rewards, Toss has almost everything you need to handle your finances in Korea. So, get started with your life in Korea with the Toss app. 

Written by 유서진 Graphics by 조수희