The South Korean actor, who shot to global fame after playing Cho Sang-woo in survival drama Squid Game, will star as Berlin in the upcoming adaptation.
In the Spanish original, Berlin is played by Pedro Alonso and is a terminally ill jewel thief who is the brother of The Professor, the mastermind behind the heist.
Netflix announced that it was making a Korean version of Money Heist earlier this year, with the streamer revealing that the main characters had been cast.
The Swindlers star Yoo Ji-tae will take on the role of The Professor, while The Call's Jeon Jong-seo is set to play Tokyo.
Also joining the cast are Lee Won-jong (Moscow), Kim Ji-hoon (Denver), Jang Yoon-ju (Nairobi), Lee Hyun-woo (Rio) and Lee Kyu-ho (Oslo).
The original series, which is titled La casa de papel (The House of Paper) in Spanish, was created by Álex Pina and follows a group of criminals as they undertake two intricate heists of the Royal Mint of Spain and the Bank of Spain.
This week, news of a Money Heist spin-off hit the headlines, with Pedro Alonso set to star in a new series focusing on fan-favourite Berlin.
Money Heist seasons one to four and season five, part one are now available on Netflix.