Sending Money to Korea

[Waygugin]

My wife and I are residents of South Korea. We would like to transfer the US dollars in our PayPal account to our US dollar denominated account in South Korea. Ordinarily, local bank accounts in South Korea are of course denominated in South Korean Won (KRW), but we have opened a foreign exchange saving account at Kookmin Bank in South Korea that accepts and holds US dollars (USD). It seems that PayPal transfers funds to Korean banks in KRW and American banks in USD. Does anyone know if it is possible for PayPal to make an exception and transfer the funds in USD? We don’t want the funds exchanged into KRW. If the answer is NO could you elaborate on the reason: A) PayPal is not permitted under law to send USD to South Korea. B) PayPal is not capable of sending USD for technical reasons. C) This is the policy of PayPal but it has nothing to do with law (domestic or international) or any technical difficulty. Thank you

[sharpiemarker]

@Waygugin 

Sorry, that is not possible. PayPal will always convert on the withdraw to natural/originating/local currency of your PayPal account. Opening a USD local bank account won't work. There will be double conversion. You must link a US bank account that is opened on US soil in order to withdraw in USD. This is a benefit to US users that are overseas because PayPal is US company.

This is PayPal policy and probably what was agreed upon on with the SK national bank regulators and government in order to do business in SK and as well as many other countries. Foreign countries want to protect their currency. Can't blame them for that.