Unicorn Currencies
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Send Money from Wales to South Korea

Welsh companies and manufacturers paying South Korea suppliers. Send GBP from Wales, receive KRW in South Korea with t+0 (2.3s avg within unicorn network).

✓ Competitive Advantage: Local GBP collection + local KRW delivery = no correspondent bank fees

Save £2,425 per £100k Payment

Wales to South Korea corridor savings

Traditional Bank
£2,930
  • ❌ 2-3 day settlement
  • ❌ Multiple correspondent banks
  • ❌ Hidden FX margins
  • ❌ High SWIFT fees
Unicorn Currencies
£505
  • ✓ T+0 (2.3s avg within Unicorn network)
  • ✓ Local GBP collection
  • ✓ Transparent 0.5% spread
  • ✓ Kakao Pay for Business
Your Savings
83%
£2,425 per £100k
At £300k-£3M monthly, save £6,069/year

Sending from Wales: What You Need to Know

GBP Origin Specifics

  • Wales uses GBP currency
  • Post-Brexit customs documentation
  • FCA regulated payment services

Your Local Advantages

  • Local GBP account available
  • Faster Payments instant collection
  • No correspondent bank fees on origin side
Local Collection Method
Faster Payments
Instant (T+0) • UK domestic instant payments. Money available immediately.

Paying Suppliers in South Korea: Compliance & Requirements

Regulatory Considerations

  • Foreign Exchange Transaction Act compliance
  • Korea Customs Service documentation
  • VAT (10%) on imported services
  • FSC (Financial Services Commission) regulations

Payment Best Practices

  • South Korea = Semiconductor/display leader (Samsung, LG, SK Hynix)
  • Kakao Pay dominates - most suppliers accept it
  • Fast-paced business culture - quick decisions expected
  • Strong tech infrastructure - digital documentation preferred
Destination Settlement
T+0 (2.3s avg within Unicorn network)
via Kakao Pay for Business

Wales → South Korea Corridor Insights

Popular Industries

  • Semiconductors
  • Electronics
  • Automotive

Peak Trading Hours

GMT to GMT time zone consideration

Best for rate execution and faster settlement

Typical Volume

£50k-£250k

Average transaction size for this corridor
Monthly volume: £300k-£3M
Compliance Notice: Subject to sanctions and compliance screening. Certain industries and countries not supported.

Ready to Send GBP from Wales to South Korea?

Save 83% on every payment with t+0 (2.3s avg within unicorn network). Local GBP collection available.

Open AccountView South Korea Details

Bank of Canada registered PSP | FINTRAC licensed MSB