Korean Job Discussion Forums

[da_moler]

Hey everybody,

I paid a housing deposit of 10 million Won myself.

Any ideas about how I can get this money out of the country when I leave?

[ajgeddes]

do a bank transfer

[da_moler]

[jinju]

[Ilsanman]

Technically, then, you can carry $9999 dollars and not declare it. Or if you have $10,000 exactly, just buy a bottle of coke.

Is it $10,000 a person? If so, and you travel with your wife/g/f, put some in her bag too.

[Beej]

What is the downside of carrying say 30,000 or 40,000 dollars US home? I will declare it. Its my money, not stolen. Whats the big deal?

[Cohiba]

Dude, that is a lightweight story. My friend's key money was
180,000,000KRW Yeah, that's right. He changed it into 180
US$1000 bills and just left. He put the stack into an envelope
and then into his jacket pocket. No probs. Don't over complicate
matters. Korean customs don't expect mighty whitey to have money!

[hogwonguy1979]

[caniff]

[jeffkim1972]

it's about tax reporting, that's all. You bring $30K into the country it's considered $30K in income.

So you're essentially evading taxes. If you earlier reported it on your tax forms, then you can probably not get taxed on it.

But it's for tax purposes.

[Hanson]

My understanding is if you can prove the money you're bringing into the country is legit (salary statement from employer) than you can just declare it and that's that. Even better, wire the whole amount home.

A buddy of mine is leaving Korea next month after something like 14 years in Korea. He's sending well over 100,000$ home. It's your money, earned legally. You've already payed tax on it. It's your money.

[seoulman1]

[hossenfeffer]

Will Shinhan bank change won into U.S. dollars or do I have to deal with one of those money changers in Itaewon?

Thanks,
hoss

[seoulman1]

[seoulman1]

ive got the same problem. I have over $10,000 and want to bring it back home. Whats the best option for me? (Australia)