Best Crypto Cards in South Korea (2026)

The FSC (Financial Services Commission, Geumyung Wiwonhoe) and FSS (Financial Supervisory Service) jointly regulate crypto under the Virtual Asset Users Protection Act (2024). Korea requires real-name bank accounts (sil-myeong gyejwa) from partnered banks for all crypto exchange activity and enforces a strict "travel rule" for crypto transactions.

Exchange operators must register with the FIU (Financial Intelligence Unit, Geumyung Jeongbo Bunseok-won). The regulatory environment is strict but increasingly clear.

Bybit, OKX, and Bitget serve Korean users through their APAC entities. Crypto.com has served the Korean market. Korea's strict FIU requirements mean some global issuers choose not to navigate the compliance burden, resulting in fewer options than Singapore or Hong Kong.

Verify FIU registration and real-name account compatibility before applying for any crypto card in Korea.

South Korea taxes crypto gains exceeding KRW 2.5 million (~$1,800) per year at 20% (22% including local surtax). Below KRW 2.5M in annual gains, card spending is tax-free.

Example: You realize KRW 4,000,000 in crypto gains from card spending over the year. The first KRW 2,500,000 is exempt. The remaining KRW 1,500,000 is taxed at 22% = KRW 330,000.

Losses can offset gains within the same tax year. The "kimchi premium" can work in your favor: if you bought crypto on Upbit or Bithumb at premium prices, your cost basis is higher, meaning less taxable gain when spending.

The KRW 2.5M exemption covers casual card spending. At 8% cashback on KRW 3M/month spending, you earn KRW 2,880,000/year in cashback. If the cashback is in USDC (near-zero gains), your entire card usage stays within the exemption.

Korean crypto card applications require a juminyodeungeung (Resident Registration Card, 13 digits) for Korean citizens, or oegugin-deungnok-jeung (Alien Registration Card) for foreign residents. A real-name verified bank account (sil-myeong gyejwa) from a partnered Korean bank (KB Kookmin, Shinhan, Hana, Woori, or NH) is mandatory. Mobile phone number for verification is required.

Korea's strict real-name requirements mean you must link a Korean bank account to your exchange before card functionality is available. This can be challenging for foreign residents without an established Korean banking relationship.

Stay Under the KRW 2.5M Exemption

The KRW 2.5 million (~$1,800) annual exemption is your primary tool. Track running crypto gains throughout the year. If total gains approach KRW 2.5M, switch to stablecoin spending for the remainder. USDC generates near-zero gains, keeping you safely within the exemption. This effectively makes all your card spending tax-free.

Card Selection by Use Case

• Bitget (8% cashback, free): Best all-around card, zero FX fee critical for KRW users
• Bybit (up to 10% VIP): Best for high-volume Bybit traders
• Crypto.com (up to 5%): Best for metal card tiers with lounge access at Incheon (ICN)
• KAST (2% cashback, free): Best no-fee starter card

Spending Scenario: KRW 3,000,000/month

With moderate BTC appreciation and the exemption, both approaches yield similar results. For heavy spending or highly appreciated crypto, USDC is safer.

The Kimchi Premium Advantage

If you bought crypto on Upbit or Bithumb at premium prices (3-5% above global rates), your cost basis is higher. When you spend this crypto via a card, the taxable gain is smaller (or even negative). Keep your Korean exchange purchase records for cost basis documentation.

Local Payment Infrastructure

Card payments are near-universal in South Korea. T-money handles transit (subway, bus), but Visa/Mastercard contactless works at most merchants. Samsung Pay dominates mobile payments (80%+ market share in Korea), and Apple Pay launched in Korea in 2023. For overseas purchases and travel, 0% FX fee cards save 1-2% versus Korean bank cards.

APAC exchange cards: Bybit (up to 10% VIP), OKX (5%), Bitget (8%), and Crypto.com (up to 5%) may serve Korean residents through their APAC entities, subject to FIU registration requirements.

Globally available: KAST, RedotPay, and xPlace may be accessible under worldwide coverage.

Domestic exchanges: Upbit (Dunamu/Kakao, largest by volume), Bithumb, Coinone, and Korbit are FIU-registered but focus on trading rather than card products. None currently offer a standard Visa/Mastercard spending card.

Regulatory friction: Korea's strict real-name bank account requirement and FIU registration create barriers that some global issuers choose not to navigate. Card selection is narrower than in Singapore or Hong Kong. Verify current availability directly with each issuer before applying.