2026 Korean Bank Enforcement Guide – How to Seize Bank Accounts & Court Deposits [English Speaking Lawyer. LIBRO]

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Introduction: The Judgment is Just a Piece of Paper (2026 Korean Bank Enforcement Guide)

You sued someone for damages and won. The court gave you a “Judgment” saying the debtor must pay you 20,000,000 KRW.

Does the court transfer the money to you automatically? No.

You must initiate “Compulsory Execution” (Gang-je-jip-haeng).

Based on the actual case file provided, this guide shows you how the Creditor successfully seized the Debtor’s money from two sources:

  1. A Bank Account
  2. A Court Deposit (The Government / Republic of Korea).
Korea Enforcement

Phase 1. The Strategy: “Freeze First, Take Later”

In this case, the Creditor was smart. Before the main lawsuit finished, they filed a “Provisional Attachment” (Ga-ap-ryu).

  • What they did: They froze the debtor’s assets (Bank Accounts & Court Deposit) so the debtor couldn’t hide the money while the lawsuit was ongoing.
  • The Result: Now that they have won the lawsuit, they are converting this “Frozen Money” into “Collected Money.” This is called “Transferring Provisional Attachment to Main Attachment” (Ga-ap-ryu-reul Bon-ap-ryu-ro I-jeon).

Phase 2. Writing the Application (DIY Guide)

You need to submit the “Application for Seizure and Collection Order” to the court. Here is how to fill it out, section by section.

1. The Parties (Who is involved?)

RoleKorean TermWho to WriteExample
CreditorChae-kwon-jaYou (The Winner)A
DebtorChae-mu-jaThe LoserB
3rd Debtor 1Je-3-Chae-mu-jaThe Bank holding the moneyShinhan Bank Co., Ltd.
3rd Debtor 2Je-3-Chae-mu-jaThe Entity holding the depositRepublic of Korea (Rep. by Minister of Justice)

💡 Lawyer’s Tip: Why is “Republic of Korea” the debtor?

The debtor deposited 10 Million KRW into the court (Liberation Deposit) to unlock his assets previously. Legally, the Government (Korea) holds this money. You are seizing the debtor’s right to claim this money back from the government.

2. The Claim Amount (Calculation is Key)

You don’t just ask for the principal. You must calculate the exact amount based on your Judgment.

  • Principal: 20,000,000 KRW (From the Judgment).
  • Interest: You must calculate interest up to the date of filing.
    • Example: 5% per year from 2025.6.17 to 2025.11.26, then 12% per year until 2025.12.4.
  • Execution Costs: The tax (stamp duty), mailing fees, and legal document fees you paid to file this application.
  • Total: 21,108,777 KRW.

3. Purpose of Application (Shin-cheong-chwi-ji)

This is the legal command you are asking the judge to give. It must be accurate.

“Transfer the provisional attachment of 11,108,777 KRW to main attachment, and seize the remaining 10,000,000 KRW from the Republic of Korea. The Third Debtors shall not pay the Debtor. The Creditor may collect these amounts.”

Phase 3. The Court Decision

Typically 2 to 4 weeks after you apply, the court issues a Decision (Gyeol-jeong).

  • Date: January 14, 2026.
  • The Order: “The provisional attachment is transferred to main attachment… The creditor may collect the seized amount.”.

🎉 Once you receive this paper, you have the legal right to take the money.

Korea Enforcement

[This document is a formal Decision on Debt Attachment and Transfer to Main Attachment issued by a branch of the Suwon District Court in 2025. According to the court’s order, a previously granted provisional attachment (가압류) regarding specific claims has been officially transferred to a main attachment (본압류) to enforce a debt. The ruling explicitly prohibits the third debtor from making any payments to the debtor and bars the debtor from disposing of or receiving the funds associated with these claims. This procedure is a critical step in the South Korean legal enforcement process, moving from a temporary hold on assets to an active execution phase that allows the creditor to recover their funds.]

Phase 4. How to Get the Cash (Action Steps)

You now have the Decision Original (Gyeol-jeong Jeong-bon). You must go to the “Third Debtors” to get paid.

Scenario A: Collecting from the Bank (Shinhan Bank)

  • Where to go: Any branch of Shinhan Bank in Korea.
  • What to bring:
    1. Your ID (ARC/Passport).
    2. Original Court Decision (Chae-kwon-ap-ryu-mit-chu-sim-myeong-ryeong).
    3. Proof of Service (Song-dal-jeung-myeong-won): Get this from the court. It proves the Bank received the order.
    4. Your Bank Account Copy (for the transfer).
  • Note for Foreigners: Banks may request additional documents such as a Signature Certificate or Seal Certificate (In-gam) if your signature does not match their system.
  • Timeline: While often immediate, the transfer can sometimes take a few days depending on the bank’s internal approval process.

Scenario B: Collecting from the Court (Republic of Korea)

This is for the 10,000,000 KRW the debtor deposited as “Liberation Deposit”. Since the “Third Debtor” is the Republic of Korea, you must go to the specific court holding the money.

  • Where to go: Suwon District Court Anyang Branch (Deposit Office / Gongtak-gye).
  • What to bring:
    1. Your ID.
    2. Original Court Decision.
    3. Proof of Service (Proving the “Republic of Korea” received the order).
    4. Seal Certificate (In-gam-jeung-myeong-seo). If you are a foreigner without a seal, you may need a “Signature Certificate” notarized by your embassy or a Korean notary.
  • What happens:
    • Fill out the “Deposit Withdrawal Request” (Gong-tak-geum Chul-geup-cheong-gu-seo).
    • The “Debtor” on the form is the person who deposited the money.
    • Once approved, you receive the money from the bank located inside the court.

Phase 5. The Final Step: Report of Collection

⚠️ DANGER: Do not skip this step!

“When the creditor has collected the debt, they must submit a Report of Collection (Chu-sim-sin-go) to the execution court.”

Why is this critical?

If you do not report your collection, and another creditor seizes the same money later, you might be forced to share your money via a “Distribution Procedure” (Bae-dang).

Reporting it immediately locks the money as YOURS.

How to do it:

  1. Download the “Report of Collection” form (Chu-sim-sin-go-seo).
  2. Write: “I collected 21,108,777 KRW from Woori Bank and the Court on [Date].”.
  3. Submit it to the Civil Execution Department at the court immediately after receiving the funds.

Summary Checklist

  1. Check: Do you have the Judgment (Pan-gyeol-mun)?
  2. Apply: Submit the “Seizure & Collection Application” to the court (Use the file attached as a sample).
  3. Receive: Wait for the court’s Decision (Typically 2-4 weeks).
  4. Visit Bank: Take the decision + ID + Proof of Service to the bank.
  5. Visit Court: Take the decision + ID + Proof of Service to the Deposit Office.
  6. Report: File the “Report of Collection” immediately to prevent sharing the money with other creditors.

Need help drafting the Seizure Application?

The attached files show a perfect example of how to combine a Bank Seizure and a Court Deposit Seizure into one document.

If the legal Korean is too difficult, contact LIBRO Global Client Services for assistance with Execution filings.

LIBRO Global Client Services

Attorney Paul

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