The following transaction-level fields apply to all KRW payments to South Korea via KFTC.
| Field | Description | Required | Type | Constraints |
|---|---|---|---|---|
purposeCode | Purpose of payment | Required | ENUM | 4–5 chars. See valid values below |
sourceOfCash | Source of funds | Required | ENUM | See valid values below |
receiverRelationship | Relationship to the debtor | Required | ENUM | See valid values below; valid values depend on whether the beneficiary is a business or an individual |
| Code | Description |
|---|---|
ACSC | Accounting services |
ALLW | Allowance |
AMSC | Advertising, market research, and public opinion polling services |
BONU | Bonus payment |
CISC | Construction and installation services |
COMM | Commission |
DEPT | Deposit |
DOFI | Deposits with or from offshore financial institutions |
EDUC | Education |
EDSC | Education services |
ENGS | Architectural, engineering, and other technical services |
FAMI | Family maintenance |
FEES | Payment of fees |
GDDS | Purchase or sale of goods |
GDSV | Purchase or sale of goods and services |
GIFT | Allowance (gift) |
GSPM | Goods for processing and manufacturing services |
GSST | Goods and services by short-term workers |
GSTR | Goods and services by travellers |
HLTC | Home health care |
INTE | Interest |
INTC | Intra-company payment |
INVS | Investment and securities |
IVPT | Invoice payment |
LESC | Legal services |
MACH | Payment for machinery and transport equipment |
MDCS | Medical services |
MFGD | Payment for manufactured goods |
MMFA | Payment for miscellaneous manufactured articles |
MP2P | Mobile P2P payment |
MRSC | Maintenance and repair services |
OTHR | Others |
PAYR | Payroll |
PSFR | Passenger fare |
REAB | Real estate abroad |
RELG | Rental lease, general |
SALA | Salary payment |
SCVE | Purchase or sale of services |
STDY | Study |
SUPP | Supplier payment |
TRAD | Trade services |
VIAC | Visa application charges |
| Code | Description |
|---|---|
ALMY | Alimony |
CASH | Cash proceeds |
COMP | Compensation |
EMIN | Employee income |
GIFT | Gift |
INHE | Inheritance |
INLQ | Insurance premium liquidation |
PACA | Paid-up capital |
REDM | Redemption |
REPY | Retirement policy |
REST | Real estate sale |
RETA | Retained earnings |
SALE | Sale of goods |
SEAQ | Sale or acquisition of a corporation |
SELF | Self-employment income |
SVGS | Savings |
WINS | Winnings |
Valid receiverRelationship values depend on whether the beneficiary is a business or an individual.
| Code | Description |
|---|---|
BRAN | Branch/Representative office |
CUST | Customer |
FRAN | Franchisee/Franchisor |
HOLD | Holding company |
PART | Business partner |
SUBS | Subsidiary company |
SUPP | Supplier |
| Code | Description |
|---|---|
CHIL | Child |
CUST | Customer |
EMPL | Employee |
EXSP | Ex-spouse |
FREN | Friend |
OTHR | Other |
PARE | Parent |
PART | Business partner |
RELA | Relation |
SELF | Self |
SIBL | Sibling/brother/sister |
SPOU | Covering spouse/partner |
VEND | Vendor |
For certain transactions, Ripple's payout partner in South Korea must verify the beneficiary's identity before completing the payout.
When verification is required, the payout partner sends an SMS to the beneficiary's registered South Korean mobile number. The SMS includes:
- The sender's name
- The transaction amount
- A secure link the beneficiary must open to complete verification
The link expires 72 hours after it is sent. Once verification is complete, the payout can be released.
Verification occurs if:
- The beneficiary has never received a payment to a South Korean bank account from Ripple's payout partner before, or
- The beneficiary is receiving a payment to a different bank account than previously registered
Additionally, if the payment amount is less than or equal to KRW 6,000,000 and you use one of the following purpose codes, the beneficiary must complete the SMS identity verification:
| Code | Description |
|---|---|
ACSC | Accounting services |
ALLW | Allowance |
AMSC | Advertising, market research, and public opinion polling services |
BONU | Bonus payment |
CISC | Construction and installation services |
COMM | Commission |
DEPT | Deposit |
ENGS | Architectural, engineering, and other technical services |
FEES | Payment of fees |
GIFT | Allowance (gift) |
GSST | Goods and services by short-term workers |
GSTR | Goods and services by travellers |
INTE | Interest |
IVPT | Invoice payment |
LESC | Legal services |
MDCS | Medical services |
MRSC | Maintenance and repair services |
OTHR | Others |
PAYR | Payroll |
PSFR | Passenger fare |
REAB | Real estate abroad |
RELG | Rental lease, general |
SALA | Salary payment |
SCVE | Purchase or sale of services |
VIAC | Visa application charges |
If you use any of the above codes for a payment greater than KRW 6,000,000, the payout partner will reject the transaction.
If the payment amount is less than or equal to KRW 500,000,000 and you use one of the following purpose codes, no identity verification is required:
| Code | Description |
|---|---|
GDDS | Purchase or sale of goods |
GDSV | Purchase or sale of goods and services |
SUPP | Supplier payment |
TRAD | Trade services |
Ripple's KR payout partner scopes its no-KYC "Business Payout" exception to B2B/B2B2B use cases only. It's not yet confirmed whether GDDS, GDSV, SUPP, and TRAD still qualify individual (B2C/B2B2C) payments for this higher limit without verification, or whether that path no longer applies to individual beneficiaries. Awaiting confirmation from the payout partner.
If the payment amount is less than or equal to KRW 6,000,000 and one of the following purpose codes is used, the payout partner requires identity verification (via SMS):
| Code | Description |
|---|---|
ACSC | Accounting services |
AMSC | Advertising, market research, and public opinion polling services |
CISC | Construction and installation services |
DEPT | Deposit |
DOFI | Deposits with or from offshore financial institutions |
ENGS | Architectural, engineering, and other technical services |
GIFT | Allowance (gift) |
GSPM | Goods for processing and manufacturing services |
INTC | Intra-company payment |
INTE | Interest |
INVS | Investment and securities |
LESC | Legal services |
MACH | Payment for machinery and transport equipment |
MMFA | Payment for miscellaneous manufactured articles |
OTHR | Others |
PAYR | Payroll |
REAB | Real estate abroad |
RELG | Rental lease, general |
SALA | Salary payment |
SCVE | Purchase or sale of services |
GSPM and SCVE also appear in the "not required" table below. This dual listing is carried over directly from the payout partner's latest specification, which lists both codes under its no-KYC "Business Payout" tier as well as this lower-threshold tier. It's not yet confirmed how the two tables should apply when both conditions could match the same payment; awaiting confirmation from the payout partner.
If you use any of these purpose codes for a payment greater than KRW 6,000,000, the payout partner will reject the payment.
If the payment amount is less than or equal to KRW 500,000,000 and you use one of the following purpose codes, no verification is required:
| Code | Description |
|---|---|
FEES | Payment of fees |
GDDS | Purchase or sale of goods |
GDSV | Purchase or sale of goods and services |
GSPM | Goods for processing and manufacturing services |
IVPT | Invoice payment |
MFGD | Payment for manufactured goods |
MRSC | Maintenance and repair services |
SCVE | Purchase or sale of services |
SUPP | Supplier payment |
TRAD | Trade services |
MFGD was previously documented here but doesn't appear in the payout partner's latest specification. Awaiting confirmation on whether it's still valid for this tier before it's removed.
If you submit a payment between KRW 6,000,000 and KRW 500,000,000 without using one of the purpose codes listed above, the payout partner will fail the payment.
| Payout type | Maximum per transaction |
|---|---|
| Verification required ("Normal Payout") | KRW 7,000,000 |
| Verification not required ("Business Payout") | KRW 500,000,000 |
A compliance daily limit of KRW 65,000,000 per beneficiary also applies. Transactions that would cause the sender or receiver to exceed this limit are held for review.
The payout partner has also introduced annual maximum limits (a standard and enhanced tier for verification-required payouts, and a separate calendar-year limit for verification-not-required payouts). These aren't included here yet as the exact figures and how they take effect are still being confirmed with the partner.
| Beneficiary type | Payment amount (KRW) | Purpose code type | Identity verification |
|---|---|---|---|
| Individual | ≤ 6,000,000 | Codes in first table | Required |
| Individual | ≤ 500,000,000 | Codes in second table | Not required |
| Business | ≤ 6,000,000 | Codes in first table | Required |
| Business | ≤ 500,000,000 | Codes in second table | Not required |
Payments over KR_KFTC accept only the following identity document types. Requests that use a document type not listed for the relevant payment role are rejected with a 400 error. Where a role or identity type is not listed below, all values in the field's enum are accepted.
| Identity type | Payment role | Accepted document types |
|---|---|---|
Individual (idType) | Originator | PASSPORT |