Korean Job Discussion Forums

[sid]

For those who keep their money here in Korea rather than send it home -what kind of account do you have and what are the interest rates like?

I heard that the post office accounts pay about 4% and some Nong-hyup accounts 5%, but I wonder if you can open that kind of account without the old Ju Min number. Any useful advice?

[bulgogiboy]

Hi there,

I save money in a kookmin bank foreign currency account, in my native currency(UK pounds). I like the kookmin because you can choose any currency and there's no minimum deposit.

I prefer having it in my home currency because the Won seems so unstable and the value against the pound seems to fluctuate dramatically.

However, I must say the interest accruing isn't really a big factor for me as I'm only planning to be here for another 10 months or so.

BB