Korean Job Discussion Forums

Jabbles · Joined: 20 Jan 2008

Hey,

I'm wondering where is the best place to exchange WON to USD?

bank? airport? US banks?

Please be specific, and please only post if you have actual experience.

Thanks!

nolegirl · Joined: 17 Apr 2008

Only do like 100-200 at the airport. They use some crappy exchange rate at the airports but when you get of the plane you will need money ASAP for water and food and stuff. But don't exchange all your money at the airport

I got screwed, I exchanged $740 and got 647,000 won?? I am still confused by this

kprrok · Joined: 06 Apr 2004 Location: KC

I don't think most US banks will have KRW on hand or would take it unless you're in a big city or have a sizable Korean population.

I'd exchange everything but a couple of hundred at a bank here, then exchange the rest at the airport before leaving.

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

DO NOT take won out of Korea.
DO NOT BUY won outside of Korea.

You can exchange won to US$ at the bank of your choice in Korea or at airport in Incheon. You will get the SAME rates and there is NO FEE. The exchange desks at the airport in Incheon ARE the banks and the posted rates are the SAME as their respective branches in town or their FOREX rate posted on their website.

This is NOT true in OTHER COUNTRIES where you pay a premium of up to 25% on some currencies.

The advantage of getting your $ at the Incheon airport is the lack of paperwork (just show your passport), change the money and be on your way - takes about 2 minutes.

If you change it at a bank you have to show your passport & they will stamp it if you change more than $1000. IT will take about 15 minutes + the waiting time to get to the counter.

.

yupkime · Joined: 03 Nov 2004 Location: Somewhere far away from Seoul

The ajummas at Namdaemun are the best in terms of rates.
The more you exchange, the better the rate.
This has been discussed many times before, do a search.

climber159 · Joined: 02 Sep 2007

I'll second the Namdaemun Ajummas and add to them the places in Itaewon. I go to the alley behind Dunkin Donuts, KB Bank, and Starbucks.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

What kind of rate can you get with them? I'd be happy w/ 1000w - 1.00$ right now? I need to convert 4mill won for my vacation. Anyone know?