Korean Job Discussion Forums

bacasper · Joined: 26 Mar 2007

Not the paper kind they sell at banks, but gold coins (such as Krugerrands), bullion, ingots, etc., and not jewelry.

Silver, too.

I considered buying some online but then I read there is a 20% import duty if it comes from outside the country. Or can I buy it online inside Korea?

If anyone knows, I'd greatly appreciate it.

captain kirk · Joined: 29 Jan 2003

I'd like to know, too. And also in Pusan.

If no-one answers I'd suggest the gold shops along Chongno. In Pusan they are around Seomyeon.

But there must be a place, maybe a bank(?), that specifically sells gold coins like Krugs, Sovereigns, etc. Like to know where that is. Anyone?

KNTO head office near Chongno Sam Ga. The ladies there have access to a lot of info. Maybe if you went there and asked they could make some phone calls. I asked them where I could find some wheat seed (to grow wheatgrass for juicing) and they found the ONE place in Seoul that had it.

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

Samsung sells gold.

http://forums.eslcafe.com/korea/viewtopic.php?t=116587&highlight=samsung+gold

GoldMember · Joined: 24 Oct 2006

Don't buy gold in Korea. In Korea the government slaps a 10% VAT on gold.

You buy $10,000 worth of gold, you pay $11,000.

Got to Hong Kong

Gold $10,000
Airfare $400

Save $600, AND have a holiday.

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

No problem w/ waltzing around w/ 10,000$ worth of gold in ur pocket.. Very Happy

jackson7 · Joined: 01 Aug 2006 Location: Kim Jong Il's Future Fireball

At today's gold prices 10,000 bucks in gold would weigh in around 11 ounces or so. We've posted dozens of times before that people can take 10,000 bucks cash home (100 100-dollar bills). Probably roughly the same volume. No biggy...now...let's talk about the time I brought back 6 spliffs from Amsterdam to the States ol' Spliffy.

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

Would u care to try that nowadays?

jackson7 · Joined: 01 Aug 2006 Location: Kim Jong Il's Future Fireball

I've done things you can't imagine. I either have big balls, am very stupid, very smart, or a combination of the three. I have more to lose these days, but I take risks when I have my ducks in a row.

Join Me · Joined: 14 Jan 2008

SirFink · Joined: 05 Mar 2006

Don't buy actual gold. Buy shares in a gold ETF such as GLD or GOLD. http://en.wikipedia.org/wiki/Gold_exchange-traded_fund

JungMin · Joined: 18 May 2005

Shinhan Bank definitely, and KB (i think). A few months ago, I asked a dude at Shinhan how much was the tax was, and i'm pretty sure it was less than 10%. You also have to pay for the delivery (to the bank or where ever).

I think Shinhan only sells 10 ounce bars.

desperation · Posted: Sun Jul 13, 2008 5:23 am Post subject:

I'm interested in gold in Busan too. And can I get a safety deposit box in a bank here or do I need to hide it daily in my mattress or rectum? And what's the penalty (tariff) for bringing in gold to America vs bringing in cash? Is wiring it still the best idea? US banks are about to close left and right. I lost about $1,500 USD in the past 12 months in terms of what my savings here WERE WORTH IN US BUCKS, as compared to what they are worth now. Time to be smart. Gold stays constant, dollars or won are WORTH-LESS so you need MORE OF IT to gt the same amount of gold as in yesteryears:

http://www.youtube.com/watch?v=z6NfXk7Bvc8&feature=related

Thunndarr · Joined: 30 Sep 2003

If you're a doomsdayist, buy bullets and guns. If you're a casual investor, buy a decent index fund. Really, what's the point of buying gold?

Kikomom · Posted: Sun Jul 13, 2008 7:31 am Post subject:

sojourner1 · Posted: Sun Jul 13, 2008 7:40 am Post subject:

Gold seems way over priced these days, but has proved itself as the smartest thing to get and hold onto. I remember back in 2003 it was only like $350 or less an ounce and then ever since, it's been rocketing up and I knew it was going to be the #1 thing to build some wealth, but I didn't have any money and times were very difficult. Just think, if buying in 2003, you'd be worth 3 times more today in only 5 years. Not too shabby at all. Now it's unclear if paying $950 per ounce is worth it as that seems over done since the increasing price is an indicator of high demand. It would be ideal to have at least $200,000 to start with, but that's a tall order for an average young to middle aged guy to come up with assuming he's not inheriting. Of course, anything saved is a huge achievment in todays world. How many Americans who are not high income or rich are actually saving money and investing in gold, stocks, and business? .001% maybe. I don't know.

http://www.goldprice.org/gold-price.html