# KR • KRW Corridor Service Specifications

This page describes transaction-level payment data requirements and payout conditions for the **Korea (KR • KRW)** corridor.

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## Customer identity verification

For certain transactions, Ripple’s payout partner in 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.

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## Individual beneficiaries

### When identity verification is required

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 ≤ KRW 6,000,000** *and* you use one of the following **purpose codes**, the beneficiary must complete the SMS identity verification:

| Purpose Code | Description |
|  --- | --- |
| ACSC | Accounting services |
| GIFT | Allowance (Gift) |
| ALLW | Allowance |
| BONU | Bonus payment |
| COMM | Commission |
| CISC | Construction and installation services |
| DEPT | Deposit |
| GSST | Goods and services by short-term workers |
| GSTR | Goods and services by travelers |
| INTE | Interest |
| LESC | Legal services |
| MDCS | Medical services |
| PSFR | Passenger fare |
| VIAC | Visa application charges |
| PAYR | Payroll |
| REAB | Real estate abroad |
| RELG | Rental lease general |
| SALA | Salary payment |


Payment rejection
If you use any of the above codes for a payment **greater than KRW 6,000,000**, the payout partner will **reject the transaction**.

### When identity verification is *not* required

If the **payment amount ≤ KRW 500,000,000** and you use one of the following **purpose codes**, **no identity verification** is required:

| Purpose Code | Description |
|  --- | --- |
| GDDS | Purchase/sale of goods |
| GDSV | Purchase/sale of goods and services |
| SCVE | Purchase/sale of services |
| SUPP | Supplier payment |
| FEES | Payment of fees |
| IVPT | Invoice payment |
| TRAD | Trade services |
| MRSC | Maintenance and repair services |
| OTHR | Others |
| AMSC | Advertising, market research, and public opinion polling services |
| ENGS | Architectural, engineering, and other technical services |


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## Business beneficiaries

### When identity verification is required

If the **payment amount ≤ KRW 6,000,000** and one of the following **purpose codes** is used, the payout partner will require identity verification (via SMS):

| Purpose Code | Description |
|  --- | --- |
| ACSC | Accounting services |
| GIFT | Allowance |
| CSIC | Construction and installation services |
| DEPT | Deposit |
| DOFI | Deposits with or from offshore financial institutions |
| INTE | Interest |
| LESC | Legal services |
| MACH | Payment for machinery, non-customized packaged software, and transport equipment |
| MMFA | Payment for miscellaneous manufactured articles |
| PAYR | Payroll |
| REAB | Real estate abroad |
| RELG | Rental lease general |
| SALA | Salary payment |
| TLLT | Term loans (long-term) |
| TLST | Term loans (short-term) |


Payment rejection
If you use any of these purpose codes for a payment **greater than KRW 6,000,000**, the payout partner will **reject the payment**.

### When identity verification is *not* required

If the **payment amount ≤ KRW 500,000,000** and you use one of the following **purpose codes**, **no verification** is required:

| Purpose Code | Description |
|  --- | --- |
| GDDS | Purchase/sale of goods |
| GDSV | Purchase/sale of goods and services |
| SCVE | Purchase/sale of services |
| SUPP | Supplier payment |
| FEES | Payment of fees |
| IVPT | Invoice payment |
| TRAD | Trade services |
| MRSC | Maintenance and repair services |
| INTC | Intra-company payment |
| OTHR | Others |
| AMSC | Advertising, market research, and public opinion polling services |
| ENGS | Architectural, engineering, and other technical services |
| MFGD | Payment for manufactured goods |


Payment rejection
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**.

## Summary

| Beneficiary Type | Payment Amount (KRW) | Purpose Code Type | Identity Verification |
|  --- | --- | --- | --- |
| Individual | ≤ 6 M | Codes in first table | Required |
| Individual | ≤ 500 M | Codes in second table | Not required |
| Business | ≤ 6 M | Codes in first table | Required |
| Business | ≤ 500 M | Codes in second table | Not required |