Invest KOREA

(SEJONG=Yonhap News) Foreign residents in South Korea will be able to use government-arranged translation services for financial information and transactions starting this week, the nation's financial watchdog said Monday.

Those in need of the services to be launched on Tuesday can contact the Financial Supervisory Service (FSS)'s call center at 1332, area code not required, between 9 a.m. and 6 p.m. on weekdays.

After they select a language, the call will be linked directly to a translator working at the Immigration Contact Center of the Justice Ministry, according to the FSS.

"Based on this system, three-way communication will be available in 19 languages, including Chinese, Vietnamese, Filipino, English, Cambodian and Indonesian," it said.

The FSS has already provided the ministry with manuals for such major financial services as banking, insurance and financial investment in order to help translators provide quality services.

It's expected to contribute to decreasing any inconveniences stemming from language barriers or cultural differences, added the agency.

Earlier this year, the FSS published special guidebooks on daily financial services for Filipino and Cambodian residents here following the issuance of similar handbooks in Chinese and Vietnamese in 2015.

There were around 1.74 million foreigners living in South Korea as of last year, including 950,000 from China, 200,000 from Vietnam, 70,000 from the United States, 70,000 from the Philippines, 50,000 from Cambodia and 40,000 from Indonesia.

lcd@yna.co.kr

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Source: Yonhap News (Oct. 31, 2016)