Korean Job Discussion Forums

[adventurer01]

Hi! I tried searching the forum for this information, but it wasn't working for me. Bear with me as I have a few questions about money.

I am just wondering how much money you would recommend bringing with you to Korea for 1 or 2 people. It will probably be about 5-6 weeks until we get paid and I want to make sure we can get set up, enjoy ourselves, and cover our expenses.

How easy is it to access international bank machines that are on the Plus system in Pusan?

Also, should the money be brought mainly in Korean Won, or another currency (Canadian / US $, I'm Cdn).

Thank you for the help.

[climber159]

I'd recommend at least 500,000KRW for your first month here (double that if there are two of you). If you want to go out some, then perhaps bring another 200,000KRW or so.

Don't get Won before you come to Korea. Bring US Dollars and exchange some at the airport. Then, go to Itaewon and find of the MANY money exchange places and exchange the remainder of your dollars there.

International ATMs are easy enough to find.
Yongsan station, Seoul Station, some banks (usually in foreigner areas such as Itaewon and Jongno).

Many places will also accept credit/debit cards with the Visa or Mastercard logo.

[dean_burrito]

1,000 US dollars a piece should set you fine. You could probably get by on less but I'm sure you'll be want to be out and about enjoying new things.

[kentucker4]

I spent around $1,500 my first month there. It's a new country and you are goign to want to spend....especially if you like the nightlife.

[ReeseDog]

[Ya-ta Boy]

[Draz]

If you want to get set up and enjoy yourselves, bring at least $1,500. Each.

I spent about $1000 in the first month, and I did not really get set up and definitely did not enjoy myself.

[SirFink]

[Zutronius]

I brought 700,000 won when I first came and I spent nearly all of it within three weeks.

[PRagic]

How much CAN you bring over? Minimum these days would be about a grand to make it through you first month. If you can swing it, 2K would more than do it. Always good to have some breathing room.

[ReeseDog]

[PRagic]

Legally, you can bring as much as you want, you just have to declare any amount over 10K at customs upon entry.

You won't need that much, though, especially if your housing is provided or subsidized. I'd say for most recent grads, 2K is a very safe amount to get by on; you'll have enough to purchase any basic necessities, and you'll be able to get out and about to enjoy your transition.

When I first got here, we had a system whereby the newbies were largely covered by the people who had been in country for a while in terms of dinners and drinks. Everyone was short when they first arrived. When the next batch of newbies arrived, then the people who had been comped bigged up like people had done for them.

[adventurer01]

Thank you for all of your responses.

It looks like we can bring enough money to easily cover us for the 5-6 weeks, but I also don't want to bring too much money. We still have student loan payments, so we will be sending money home from our pay each month to cover those after we start getting paid, so bringing a lot more than we need ends up being sent back home later.

I was also wondering about the availability of Plus System International Banking Machines in Pusan, for withdrawing a little more money if/when we need it.

It's looking like somewhere between $1,000 -$2,000 each is recommended.

[KoreanAmbition]

A lot of your question depends on how well you pack for Korea.

Are you bringing everything you need or planning to buy some things here?

You will need bathroom supplies, laundry detergent, kitchen utensils like pots, pans, plates, bowls, cutlery, and if you're like me you'll want a microwave, coffee maker, and drying racks for dishes.

What about sheets, pillows, fans, blankets, and cleaning supplies, assuming you plan to keep your apartment clean?

Will you want a TV and dvd player?

How furnished will your apartment be?

Do you do your own cooking? As said above you'll need to stock up on cooking supplies and other types of foods that last a lot longer than just a couple weeks.

I personally like to buy in bulk because I know I'll keep using things and I'd rather buy it once instead of several times, and buying in bulk is cheaper.

For example, we bought a huge jumbo box of laundry detergent and the thing will last us months. We also bought a massive bag of rice. You wouldn't initially think that you'd spend $100 on laundry and rice in your first month, but guess how long that stuff is gonna cost us? What about toilet paper and kleenex and towels? I'm guessing you're going to need that kind of stuff.

How are you getting from the airport to your apartment? Will there be any long taxi rides?

Do you plan to do a lot of networking here? If so, bring extra cash for dinners and drinks with people you want to get to know early. If you're the type that won't turn down a social invitation then plan to bring a lot of extra cash for those events.

What about cell phones? Are you both going to get phones? You better bring enough money to buy phones and get set up on plans.

You will need to buy T-money for the subway/buses, and because you're new you're going to have to go get a ton of things early on. Plan to spend a lot on public transportation in the first weeks there.

What about a medical check for your E-2 visa? Plan to pay for that because you have to get it done. Do you have to do any immigration work such as apply for an ARC and multiple entry visa? I would assume so, therefore budget for it.


If you are strapped for money, bring what you can. If you don't have a financial problem, then bring more.

This is Korea, you probably won't get robbed here. Bring extra money and then keep it safely hidden in your apartment. Exchanging money is easy.

My suggestion for a couple is to bring about $2500 if you can. My wife and I recently spent $1600 in our first month and that included buying tons of stuff for the apartment and loading up on bathroom and cleaning supplies, as well as filling the freezer with meat, the fridge with groceries and the cupboards with all kinds of other stuff.

A big expense will be furniture so find out if you need a couch and TV. Bedding is expensive and towels aren't cheap either if you want big ones. Microwave and coffee maker were essential for my kitchen so I had to run get those also. If your first month was like ours it will be near double what you will spend in the months thereafter.

Good luck.

[KoreanAmbition]

By the way, don't forget that if you bring extra US dollars then whatever you don't spend can be used for travelling later on. You would end up having to convert your won to USD anyways, so doesn't make much difference if you bring extra to start. It all will come out of the same bank account most likely.