Korean Job Discussion Forums

[slancaster]

Here's my situation.

The last day of my teaching contract is this Friday. Two days later----Sunday morning at 10----I have a flight back to the U.S. My school says it will pay my last month of pay on Friday afternoon, but my severance pay on Saturday morning (I have some books and apartment key to return to them. I guess they're holding my severance as assurance that I'll show up.)

Anyway, my school can be flaky. They have paid all monies to me so far, but they have a reputation of sometimes paying a little late or being "forgetful" regarding things. Nothing malicious, just annoying. If by some chance I get all my money paid on Saturday----last month's salary plus sevarance---then I will be forced to convert my Korean won at the airport Sunday morning since the banks will be closed. (I want to convert won to dollars here because I heard I'd lose if I did it in the U.S.)

So, my questions are: Would I have a problem exchanging about 4 to 5 million Korean won to U.S. dollars at the airport? If so, how much could I exchange? If there's no problem, would I be able to do so at about 8:00 am Sunday morning? If not, I assume I could go to the airport on Saturday to exchange.

By the way, I will not be returning to my hometown, so I could NOT have a Korean friend transfer the money to my bank account on Monday. But I assume my Korean friend could transfer the money to my Stateside friend's account in the city where I'll be staying. If my Korean friend did it on Monday, how soon would the funds be available in my friend's account in the U.S.?

Thanks.

[Juregen]

The biggest amount i ever changed at airport was 2M Won, people didn't even flinch.

I don't think the airport is going to give troubles. If they do, split the package and go to the different exchangers available.

[oskinny1]

Tell them you NEED it by Friday. If they have been square with you it shouldn't be a problem. Not sure why you can't just have it wired to your account though, you can't access your bank from another city? If not, time for a new bank.

[ttompatz]

I took a bunch of kids out of the country over the summer vacation (end of July).

I exchanged 6.5 million won into dollars (at the airport) with no problem other than the delay while they counted it all (even the machines take time to count 650 bills).

[Damulgun]

You need some money changed? Tell you what I can give you 1200won for every dollar. Just give me your dollar and I will be back in 10 minutes with your Korean currency.

[Matman]

If you change 5 million won at the airport you'll lose a lot of money due to bad exchange rates. Can be as much as 5% or so (priced into the exchange rate spread). You're far better off depositing the money in a bank and wiring it to a US account if that's an option.

[dogshed]

[SuperFly]

In Myong dong there are *or were, 10 years ago* a bunch of adjumas that are moneychangers. They give *gave* you a slightly better rate than banks. They go by the name of "Talla adjuma" - good luck.

[Cheonmunka]

If you take the cash to US don't exchange at a US bank. Exchange it at a Korean bank in the US. The rate of exchange is at least 15% better.