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Korean Job Discussion Forums
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john_ferraro
Joined: 08 Aug 2010
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 Posted: Tue Sep 21, 2010 12:43 pm Post subject: Financial advice, i.e., currency conversion |
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Hi all. I'm leaving for Korea in a few days, and I'm wondering how much money I should take with me. I'm going to keep my checking account in the US open so I can transfer money home, and I've got about $1000 that I can use now, but I don't know how much hard currency I should have on hand when I arrive in Korea. For that matter, how much money should I convert to Korean currency, and should I do that in the US before I leave, or when I arrive in Korea?
If anybody has any input or advice about this, I'd really appreciate it. Thanks. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Sep 21, 2010 5:16 pm Post subject: Re: Financial advice, i.e., currency conversion |
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| john_ferraro wrote: |
Hi all. I'm leaving for Korea in a few days, and I'm wondering how much money I should take with me. I'm going to keep my checking account in the US open so I can transfer money home, and I've got about $1000 that I can use now, but I don't know how much hard currency I should have on hand when I arrive in Korea. For that matter, how much money should I convert to Korean currency, and should I do that in the US before I leave, or when I arrive in Korea?
If anybody has any input or advice about this, I'd really appreciate it. Thanks. |
If you have access to a credit card then $1000 should be fine for your 1st month (usually about 40 days till you get your 1st pay if you are at a hagwan).
DO NOT BUY WON OUTSIDE OF KOREA. Bring your 10 Ben Franklins with you in your pocket. Change about $500 at the exchange desk inside the secure area of the Incheon airport (keeps prying eyes from watching you at the outside counters). Avoid the taxi touts when you walk out of the glass doors.
The rate at the airport is the same as the rate in town so there is no advantage in waiting. Change the other $500 when you need it.
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