Korean Job Discussion Forums

passport220 · Joined: 14 Jun 2006 Location: Gyeongsangbuk-do province

I am thrilled that I was able to book a last minute flight to Thailand at a reasonable price (550,000 won R/T tax included). I leave on Monday. However, due to the last minute nature of my plans I will likely have to travel carrying Korean Won, cash (I have a Thai bank account so I will not have to carry cash for long).

Any advice on the best places / way to exchange?

J.B. Clamence · Joined: 15 Jan 2003

If you change it into Baht at Incheon Airport, you will get a lot more Baht than if you wait to change it in Thailand. As I mentioned in a recent thread, they give about 28 THB for 1000 won in Thailand, but they'll give you 35 THB for 1 USD, even though 1000 won is actually worth more than a dollar.

However, you might be able to save even more if you change your won into dollars at the airport in Incheon, and then bring your dollars to Thailand. Look at the exchange rates at the aiport and do the math when you get there to see which course is more profitable. But make sure you change something at Incheon and get either baht or dollars, whichever seems best, and absolutely do not bring won to Thailand. They won't pay you anything near what it is worth.

jajdude · Joined: 18 Jan 2003

See the thread on "Thai baht" just below on this forum.

passport220 · Joined: 14 Jun 2006 Location: Gyeongsangbuk-do province

I did see the thread on �Thai Baht� I was hopping to find that the low rate of exchange offered was only in limited locations (like the Bangkok Airport). However, from what I am reading from this and other sources, the sub 30 rate per 1,000 KRW seems to be widespread in Thailand.

I am very confused by this, how can the market rate in Thailand for the KRW be so much lower than the rest of the world?

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

What airline did you book the flight on? Which agency did you use. Why don't send wire transfer to your Thai bank account? There are banks downstairs at Incheon airport.

passport220 · Joined: 14 Jun 2006 Location: Gyeongsangbuk-do province

I am flying Eva Air via Taipei, I booked through a local travel agency.

I thought about sending a wire Spiff, however, it seems even banks give this low sub 30 rate https://www.scbbusiness.com/exchange/bk-txtexchange.htm The link is to Siam Commercial Bank with a rate of 29 to 1,000 KRW. I am baffled by the 29% spread in buying vs. selling (41 buying, 29 selling). How can this be? I guess I am just too used to dealing in US dollars where the spread is normally a % or two.

I live in a rural town so I don�t have a lot of convenient banking options. Right now it seems best to bring a large wad of KRW to Seoul and try and exchange it to Thai Baht if I can find it at a good rate (at ICN airport) or into USD/Euros. In general it seems like I would lose paying the commission percentage to exchange twice, so I will have to do the math.

Thanks, I am still open to any suggestions.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

Yeah i had that offer w/ EVA but went w/ Thai direct for 650,000. Didn't like the long stayover in Taipai.

When sending wires always specify your sending currency. I wire money w/ my ATM card (24/7) and it has a function where I can select the the currency for transfer. I simply choose US$ or HK$, never send in SKW!

J.B. Clamence · Joined: 15 Jan 2003

jajdude · Joined: 18 Jan 2003

J.B. Clamence · Joined: 15 Jan 2003

thaitom · Joined: 08 Feb 2003 Location: Phopphra, Thailand

Spliff, You can wire money to your Thai bank with your ATM card at a machine?? please tell me more on how to do this. I have not seen this option . I even looked on their online banking and the only option is domestic transfers. If I could do this it would save my wife a long trip to town every month.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

Yeah...KEB bank. At my local KEB bank they have some big/poster advert aimed at 3D workers. It's for a telephone that also has a function for wiring money. I already have two phones but, I looked at the brochure and saw that KEB was offering an ATM card that can be used to wire money internationally. Just tell them you want this and you will have to give the receiving bank info. They set it up right away in a half hour or so. And, they didn't give me a new card, I just use my old one w/ this new functionality. Also, free of charge and the wire transfers are cheaper as well... And you can select the currency you want to use for the wire. Very Happy

pocariboy73 · Joined: 23 Jan 2003

How about getting a Korean ATM card (international) and using the card in Thailand to withdrawl the money from your Korean bank account. I'm sure the rate is much better.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

I have that already but don't use it unless it's absolutely necessary. The exchange is Won to THB....... not to mention a charge at a little more than the standard wire transfer fee.