Korean Job Discussion Forums

[Koreabound2004]

My boyfriend and I want to get some Won before leaving Canada(going in 2 1/2 weeks!!!! Today, we went to the currency exchange centre in a mall(they say that they offer better rates than banks). They offered us 200,000 KRW for 300.00 Canadian Dollars. We checked on XE.com, and it appears that we should get about 260,000 Won for 300 Canadian. So, now we wonder if we should just check with our local banks, or wait till we get to the airport in Toronto to do it there at another currency exchange place...Or would you suggest doing this at the airport in Korea, or a bank in Korea, or other currency exchange centre there? We really want the best rate....any suggestions? How much won should we get anyways?

[Pyongshin Sangja]

Buy US dollars or Amex Travellers' Cheques in Canada and change them at the airport in Incheon. Going from one obscure currency to another invites a lot of handling fees. Less confusion. You're right, that is a bad rate. How much? Figure perhaps W50-100,000 per person per day if you are paying for accomodation, less if not.

[prosodic]

I would suggest that you limit your won purchases at the airport to only what you need until you can get to a bank. Airport rates aren't all that great.

[kylehawkins2000]

You could try to just exchange enough money to get you here. I'd suggest going to a bank. The rate you got was horrible.

Once here you should be able to use your bank card at local ATM's without much problem. Be careful when typing in the amount you want though....the machines usually tack on four 0's to the number and if you try to withdraw too much money too many times your bank will freeze your account. I'd suggest telling your bank that you'll be withdrawing money from Korea. The ATM's will probably give you the best rate but it's best to take out as much as possible at once because there is usually a fee of 5 dollars or more for an international withdrawl. Check with your bank before you go.

[slap it]

if you're changing a few hundred dollars, just do it at the bank or the airport. it won't make much of a difference. if you're changing a lot of money, do it at one of those currency exchange places in seoul. there's one in itaewon as well as one near sinsa station. you can also get good rates with the ajumas in namdaemoon market.