Korean IOU — fill in, print or download a loan agreement
A Korean IOU states who lent and who borrowed, the amount in figures and in Korean words, the day it was lent and the day it is due, the interest and how it is paid back, and both sides sign it.
Fill those in here and the A4 form updates as you type; save it as a PDF from the print dialog or download it as a Word file. The interest rate is checked against Korea's legal cap of 20% a year. A blank form prints and downloads too, for filling in by pen.
An empty IOU in Korean with lines to write on, including one for the full ID number if you want it.
Checks
Amount
—
Interest a year (simple)
—
Legal cap on interest
20%
NoteNo due date: the form says it follows Civil Act Art. 603(2) — the lender must give a reasonable period when asking for repayment, and the borrower may repay at any time.
차용증
원금 일금 원정 (₩)
채무자는 채권자에게서 위 금액을 빌렸음을 확인하고, 다음 조건대로 갚을 것을 약속합니다.
빌린 날년 월 일에 위 금액을 받았습니다.
갚을 날정하지 않음 (민법 제603조 제2항에 따릅니다)
이자없음 (무이자)
갚는 방법채권자 명의의 아래 계좌로 보냅니다.
은행:
계좌번호:
예금주:
작성일 년 월 일
채권자 (빌려준 사람)
성명
(서명 또는 인)
생년월일
주민등록번호
-
연락처
주소
채무자 (빌린 사람)
성명
(서명 또는 인)
생년월일
주민등록번호
-
연락처
주소
이 차용증은 2부를 작성해 채권자와 채무자가 1부씩 보관합니다.
A print window opens. Choose “Save as PDF” as the printer to keep a file. The form prints in Korean.
Enter the lender and the borrower: name, date of birth, address and phone.
Enter the amount, the date lent and the due date, the interest rate and how it is paid back. The amount in Korean words and any warning about the interest cap appear as you type.
Check the A4 preview, then press “Save as PDF / Print” and pick “Save as PDF” as the printer, or press “Word .docx” to edit it in Word.
If something goes wrong
To write it by hand instead, press “Print a blank form” or “Blank Word .docx” at the top.
With “Print two copies” ticked, the lender's and the borrower's copies print together.
A form, not legal advice. Registered lenders and loan businesses follow other rules (Interest Limitation Act, Art. 7). For a dispute, ask a lawyer or the Korea Legal Aid Corporation.
What the IOU says and how it is checkedHow this works
What goes on a Korean IOU
A 차용증 is a short written record of a loan between people. The form here prints the amount twice, in Korean words and in figures (₩1,000,000), so that a figure cannot easily be changed later. Below it come numbered terms: the day the money was handed over, the day it is due (or a monthly installment and the last payment day), the interest rate and when interest is paid, how the money goes back (to the lender's bank account, or in person), interest for late payment if you set one, a joint guarantor if there is one, and anything else you type.
At the bottom there is the date and a box for each person: name with room for a signature or seal, date of birth, phone, address, and an empty line for the full resident registration number. The page never asks for that number; if someone wants it on the paper, they write it in by hand after printing.
The interest cap, checked as you type
Korea's Interest Limitation Act (Article 2) caps interest on a money loan, and its decree sets the cap at 20% a year for contracts made or renewed from 7 July 2021. Interest above the cap is void, and taking it is an offense under Article 8. When the rate you enter is above 20%, the page says so. The cap in Article 2(1) does not apply to a loan of less than 100,000 won, and the act does not apply to licensed or registered lenders (Article 7); the page notes the first case.
Late-payment interest is agreed damages for not paying on time. If you set it above 20% a year, the page adds a note: a court may reduce agreed damages it finds unfair (Article 6). With no due date, the form says the loan follows Civil Act Article 603(2): the lender must give a reasonable period when asking for the money back, and the borrower may repay at any time. These are notes and warnings; the form always prints.
Guarantors, copies and signatures
A joint guarantor agrees to repay together with the borrower. Under the Civil Act (Article 428-2) a guarantee only takes effect when it is in writing with the guarantor's name and signature or seal, so the guarantor's box has its own signature line, and the form says so in a footnote.
“Save as PDF / Print” opens the print dialog with the A4 form; with “Print two copies” ticked, a copy for the lender and one for the borrower print on separate sheets. “Word .docx” downloads one copy to edit before printing. A blank form prints or downloads from the top of the page, for writing by hand. Both people sign on paper.
Your data, and what this is not
Everything is made in your browser. Nothing you type is sent or kept; closing the page clears it. As on every tool page here, one count is sent when you print or download: which tool and which language, with nothing from the form in it.
The paper is in Korean whatever language you read this in, because it is used in Korea; text you type, such as other terms, prints as typed. This page fills in a form and is not legal advice. It does not cover tax on loans between family members. For a dispute, a lawyer or the Korea Legal Aid Corporation can help.
Who lent and who borrowed, the amount in figures and in Korean words, the day it was lent, the day it is due, the interest (or that there is none) and how it is paid back, then the date and both signatures. This page also adds late-payment interest and a joint guarantor if you want them.
What is the maximum interest rate on a personal loan in Korea?
20% a year, for contracts made or renewed from 7 July 2021 (Interest Limitation Act, Article 2, and its decree). Interest over the cap is void. It does not apply to loans under 100,000 won or to registered lenders. The page warns you when the rate you enter is over the cap.
Do family members need an IOU when they lend money?
The law does not require one: under the Civil Act (Article 598) a loan takes effect when the two sides agree. A signed paper with the amount, the due date and the interest lets both sides check later what they agreed. This page does not cover tax on family loans; ask the National Tax Service.