Last reviewed: · Curated by Ohmyfin Organisation editorial.
South Korea and Vietnam have deep economic ties: South Korea is Vietnam's second largest foreign investor, and around 70,000 Korean residents live in Vietnam (concentrated in Ho Chi Minh City). KRW payments route from Korean banks (Hana, KB, Woori, Shinhan) via BOK-Wire+ and SWIFT to a Vietnamese bank (Vietcombank, Techcombank, VPBank, BIDV), settling via the State Bank of Vietnam's IBPS. KRW is converted to VND via USD. The SBV requires FX registration for larger amounts; the Korean FSS applies AML screening. The South Korea–Vietnam corridor also covers large manufacturing-sector trade finance flows. Track your UETR on Ohmyfin for live GPI status.
Settlement path: BOK-Wire+ (Bank of Korea) → SBV IBPS (State Bank of Vietnam). Currency pair: KRW → VND.
The three most common causes of delay on this corridor are: (1) SBV inward FX registration for amounts above USD 10,000, (2) KRW-to-VND conversion via USD intermediate at the correspondent, and (3) SBV VND capital-account controls limiting same-day large-value credits.
If the payment has not arrived within 3 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC shown on the Ohmyfin GPI tracker.
Most SWIFT transfers on the South Korea–Vietnam corridor credit the beneficiary within 1 business day. In 95% of cases the payment arrives within 3 business days. The most common delay is sbv inward fx registration for amounts above usd 10,000.
The three most common delay causes are: SBV inward FX registration for amounts above USD 10,000; KRW-to-VND conversion via USD intermediate at the correspondent; SBV VND capital-account controls limiting same-day large-value credits.
Track the UETR on Ohmyfin — the GPI status shows exactly which bank is holding the payment. If delayed beyond 3 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC.
The dominant settlement path is BOK-Wire+ (Bank of Korea) → SBV IBPS (State Bank of Vietnam). The currency pair is KRW → VND.
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