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MaestroCantus
Joined: 29 Jul 2007
Location: Seoul
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 Posted: Fri Mar 07, 2008 9:45 pm Post subject: Taking money out of Korea / paying bills outside of Korea |
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I was talking to a friend tonight, and she said something about a friend of hers having her spending outside of Korea limited (i.e. by a certain percentage).
Is there a limit on how much of your money you can spend outside of Korea? (or was my friend misinformed)?
I am hoping on coming to Korea and putting most of my money into paying off my student loan . . . if my spending outside of Korea will be limited in this respect, I would like to know! |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Mar 07, 2008 10:23 pm Post subject: Re: Taking money out of Korea / paying bills outside of Kore |
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| MaestroCantus wrote: |
I was talking to a friend tonight, and she said something about a friend of hers having her spending outside of Korea limited (i.e. by a certain percentage).
Is there a limit on how much of your money you can spend outside of Korea? (or was my friend misinformed)?
I am hoping on coming to Korea and putting most of my money into paying off my student loan . . . if my spending outside of Korea will be limited in this respect, I would like to know! |
Without restriction, you can export up to US$10,000 per visit to Korea.
Beyond that limit you have to show PROOF of legal income (contract, pay slips, etc).
You can legally export 100% of your income. |
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skconqueror
Joined: 31 Jul 2005
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| Posted: Fri Mar 07, 2008 10:26 pm Post subject: Re: Taking money out of Korea / paying bills outside of Kore |
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| ttompatz wrote: |
| MaestroCantus wrote: |
I was talking to a friend tonight, and she said something about a friend of hers having her spending outside of Korea limited (i.e. by a certain percentage).
Is there a limit on how much of your money you can spend outside of Korea? (or was my friend misinformed)?
I am hoping on coming to Korea and putting most of my money into paying off my student loan . . . if my spending outside of Korea will be limited in this respect, I would like to know! |
Without restriction, you can export up to US$10,000 per visit to Korea.
Beyond that limit you have to show PROOF of legal income (contract, pay slips, etc).
You can legally export 100% of your income. |
Those be the rules, but not every bank personnel likes to follow them. I returned from a trip to Japan and they started wanking on about how I already exceeded my $10k. Just be persistent, and if all else fails go to a different bank. |
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