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Textile & Garment Trading — Pay South Korean Suppliers Faster, Cheaper

Textile orders run on tight margins — every percentage point in FX costs hits your bottom line.. And your bank makes it worse — 3-day settlements, 2-4% hidden FX spreads, and zero visibility into what your payments actually cost.

We built payment infrastructure for textile & garment trading businesses. 0.5% spreads. Same-day KRW settlement. Free container tracking.

Get a Quote for Your Next South Korean Payment

Textile & Garment Trading margins are too thin to donate 2-4% to your bank on every supplier payment.

Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.

Regulated by
Bank of Canada
PSP under RPAA
Registered with
FINTRAC
MSB: C100000159
Client funds held in
Segregated Tier-1 accounts
Never co-mingled
Published pricing
0.5% spread + £5
No hidden markups. Ever.

These aren't marketing claims — they're regulatory requirements we meet daily.

Save £2,425 per £100k Payment

Typical savings for Textile & Garment Trading paying South Korea suppliers

Traditional Bank
£2,930
FX Spread: 2.9% + £30 fee
  • ❌ 2-3 day settlement
  • ❌ Hidden FX margins
  • ❌ High correspondent bank fees
  • ❌ Manual compliance checks
£505
FX Spread: 0.5% + £5 fee
  • Settles in seconds — 2.3 second average
  • ✓ Transparent pricing
  • Kakao Pay for Business available
  • ✓ 0.14s automated compliance
Your Annual Savings
83%
£2,425 per £100k

At £500k-£5M monthly volume, save £29,100/year

What Challenges Do Textile & Garment Trading Businesses Face Paying South Korea?

Industry Pain Points

  • Multi-currency exposure (CNY, INR, BGD, VND)
  • High volume, low margin (5-10% margins)
  • Fast fashion cycles require quick payments
  • Quality disputes holding payments

Country-Specific Considerations

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

How Do Textile & Garment Trading Businesses Typically Pay South Korean Suppliers?

Fast Settlement: Settles in seconds — 2.3 second average

Use Kakao Pay for Business for instant KRW settlement. Instant mobile payment system, 90% market penetration

Real-Time FX Exposure Tracking

Upload supplier invoices as PDFs. Our AI OCR extracts amounts and currencies. See exactly what waiting costs you in real-time. Lock rates for 15 seconds when you see a good rate.

0.14s Compliance Screening

Automated compliance checks for South Korea regulations. Foreign Exchange Transaction Act compliance handled automatically.

How Textile & Garment Trading Businesses Typically Pay South Korean Suppliers

If you're importing in this sector, you're likely dealing with a mix of payment terms. Here's how they work — and why speed matters.

Payment Timing

Net 30-60 days after shipment (established suppliers), 30-50% prepayment for large orders (MOQ: 500-1000 units)

This corridor settles same-day when using our rails — so you can align payments with your supplier terms instead of waiting on your bank.

📄 Invoice Terms

Net 30-60 for repeat orders, LC for first orders $100k+, 30-50% deposit for MOQ orders, balance on shipment

Cash Flow Pattern:

Fast fashion: Weekly payments to multiple suppliers. Traditional: Seasonal peaks (Spring/Summer Feb-Apr, Fall/Winter Aug-Oct ordering).

📊 FX Risk Profile

EXTREME: Multi-currency exposure (CNY+INR+BDT+VND). 5-10% margins mean 3% FX move wipes out profit. Must hedge all POs.

Supplier Relationships:

China (volume, established factories), Bangladesh (price-competitive, MOQ-focused), India (specialty fabrics), Vietnam (growing alternative to China)

Common Documentation for Textile & Garment Trading

  • Commercial Invoice (detailed SKU breakdown)
  • Packing List (carton-level details)
  • Certificate of Origin (GSP/duty preferences)
  • Quality Inspection Report (AQL 2.5 standard)
  • Ethical Sourcing Certificate (no forced labor)

Popular South Korea Supplier Types for Textile & Garment Trading

Common South Korea Suppliers

  • Semiconductor manufacturers (Seoul, Suwon)
  • Display panel producers (Paju, Asan)
  • Automotive parts (Ulsan, Changwon)
  • Shipbuilding (Busan, Geoje)

Payment Tips for South Korea

  • 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
Typical Transaction Size
£100k-£500k
All payments are subject to standard compliance and sanctions screening. Certain industries and countries not supported.

Frequently Asked Questions: Textile & Garment Trading Payments to South Korea

How do Textile & Garment Trading businesses pay suppliers in South Korea?

Textile & Garment Trading businesses can pay South Korea suppliers instantly using Unicorn Currencies. We offer a 0.5% FX spread with 2.3-second average settlement using local payment rails like Kakao Pay for Business. This is significantly faster and cheaper than traditional SWIFT transfers which take 2-3 days.

What banking details do I need for South Korea Textile & Garment Trading suppliers?

To pay Textile & Garment Trading suppliers in South Korea, you need the recipient's Bank Code + Account (Bank code and account number (or domestic transfer code)), account number, and beneficiary name. Our platform validates these details automatically to ensure successful payment delivery.

How much can Textile & Garment Trading businesses save on South Korea payments?

Textile & Garment Trading businesses typically save 83% compared to traditional banks when paying South Korea suppliers. On a £100k transaction, that's £2,425 in savings. With Unicorn Currencies, you pay just 0.5% FX spread + £5 per payment vs banks charging 2.9% spread + £30 fees.

Is container tracking available for Textile & Garment Trading shipments from South Korea?

Yes, Unicorn Currencies offers FREE container tracking for Textile & Garment Trading shipments from South Korea. You receive real-time visibility into your cargo, including demurrage alerts to help avoid costly port storage fees. This feature is included at no extra cost with your payment account.

What currencies do Textile & Garment Trading businesses typically use with South Korea?

Textile & Garment Trading businesses typically convert GBP to KRW when paying South Korea suppliers. Unicorn Currencies provides live exchange rates with a transparent 0.5% spread, and you can lock rates for 15 seconds when you see a favorable rate. Our AI-powered invoice OCR can automatically extract amounts and currencies from supplier invoices.

Ready to Pay South Korea Suppliers 83% Cheaper?

Join Textile & Garment Trading businesses saving £2,425 per £100k payment with t+0 (2.3s avg within unicorn network).

Bank of Canada registered PSP | FINTRAC licensed MSB