How to Use Stripe as a Korean Developer in 2025: The Easiest Workaround

Since Stripe no longer supports direct sign-ups for South Korean companies, you'll need a workaround to use it for your web and app payments. The easiest and most cost-effective method is to use a Wise Multi-Currency Account to obtain foreign bank details (like a German IBAN) and register with Stripe. This guide provides actionable steps tailored for a Korean individual or business, keeping it simple and affordable.
Step-by-Step Guide to Using Stripe as a Korean Developer
Step 1: Sign Up for a Wise Multi-Currency Account
Go to Wise Multi-Currency Account and create an account.
How:
Click "Get started" and enter your email.
Verify your identity with your Korean ID and a phone number.
Link your South Korean bank account (e.g., Kookmin, Shinhan) to Wise for funding and withdrawals.
Time: 5-10 minutes, plus 1-2 days for verification.
Why: Wise provides bank details in supported Stripe countries without forming a foreign business.
Step 2: Get European Bank Details (German IBAN)
Add a Euro (EUR) balance in Wise and request German bank details.
How:
Log into Wise, go to "Balances," and select "Add EUR."
Choose "Get bank details" for Europe (Germany provides an IBAN and SWIFT code).
Why: Germany is a Stripe-supported country, and an IBAN works seamlessly for Stripe payouts.
Step 3: Create a Stripe Account
Register for Stripe using your Wise German bank details.
How:
Visit Stripe Dashboard.
Fill in your details:
Business country: Select Germany (matches your IBAN).
Name: Use the same name as your Wise account.
Address: Use your Korean address or a German address.
Add your Wise German IBAN under "Banking details."
Step 4: Integrate Stripe into Your Web and Apps
Get your API keys from "Developers" > "API Keys" in Stripe Dashboard.
For Web: Use Stripe Elements or Checkout.
<form id="payment-form"> <div id="card-element"></div> <button id="submit">Pay</button> </form> <script src="https://js.stripe.com/v3/"></script> <script> var stripe = Stripe('your_publishable_key'); var elements = stripe.elements(); var card = elements.create('card'); card.mount('#card-element'); </script>
For Apps: Use Stripe’s SDKs (iOS, Android).
implementation 'com.stripe:stripe-android:20.34.0'
Step 5: Set Up Currency and Payouts
Set EUR as your primary currency in Stripe.
Confirm your Wise German IBAN is linked for payouts.
Convert EUR to KRW in Wise and transfer to your Korean bank account.
Step 6: Test and Launch
Use Stripe’s test mode (test card:
4242 4242 4242 4242
).Verify funds appear in Wise.
Switch to live mode in Stripe Dashboard and start accepting real payments.
Step 7: Monitor and Comply
Check Stripe Dashboard for payment history.
Declare income to South Korean tax authorities (consult a local accountant).
Enable local payment methods like Samsung Pay if needed.
Costs Breakdown
Sign-up: Free (Wise + Stripe).
Transaction Fees: Stripe: 2.9% + $0.30; Wise: ~0.5-1% conversion fee.
Total Overhead: ~4% of revenue, cheaper than forming a US LLC.
This workaround is the simplest and cheapest way for a Korean developer to use Stripe in 2025. Let me know if you need help with coding the integration or troubleshooting!