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Is it true you can only take 3mill out of Korea in cash?
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mikekim



Joined: 11 Aug 2006
PostPosted: Tue Nov 11, 2008 8:18 am    Post subject: Is it true you can only take 3mill out of Korea in cash? Reply with quote
Is there any way around this? I wanna come back. Will my bank accounts still work if I change my visa from E2 to tourist?
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caniff



Joined: 03 Feb 2004
Location: All over the map
PostPosted: Tue Nov 11, 2008 8:40 am    Post subject: Reply with quote
Take 3 mil won cash out of Korea? And come back to Korea? Bank accounts?

Can you be a little more specific?
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cruisemonkey



Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
PostPosted: Tue Nov 11, 2008 11:53 am    Post subject: Reply with quote
You can take as much cash out of K-land as you want.
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chevro1et



Joined: 01 Feb 2007
Location: Busan, ROK
PostPosted: Tue Nov 11, 2008 1:56 pm    Post subject: Reply with quote
I thought it was ten million won cash allowed to be taken out of Korea. If you have more than $10 000 on you when you arrive, customs is gonna be askin you some questions.
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Teelo



Joined: 09 Oct 2008
Location: Wellington, NZ
PostPosted: Tue Nov 11, 2008 1:59 pm    Post subject: Reply with quote
Out of curiosity, how will they even know?
Unless they scan your bags and see food or drugs or something, and have to search your bags... how would they know if you're taking in 500 million?
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.
PostPosted: Tue Nov 11, 2008 3:41 pm    Post subject: Reply with quote
I took out more than that this summer. I changed it into dollars at the Woori bank at Incheon. No problems.
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The Grumpy Senator



Joined: 13 Jan 2008
Location: Up and down the 6 line
PostPosted: Tue Nov 11, 2008 4:06 pm    Post subject: Reply with quote
When I was opening my bar in Ulaan Bataar in 2006 with some friends, my partner tried to take $15,000 out of Korea in cash. The security at the airport caught him and detained him, we had to go there to confirm his story and take the extra cash in order to get him under the $10,000 limit.

The Customs Card you fill out asks you if you have more than $10,000 on your person or in your luggage.
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EzeWong



Joined: 26 Mar 2008
Location: Seoul
PostPosted: Tue Nov 11, 2008 4:16 pm    Post subject: Reply with quote
The Grumpy Senator wrote:
When I was opening my bar in Ulaan Bataar in 2006 with some friends, my partner tried to take $15,000 out of Korea in cash. The security at the airport caught him and detained him, we had to go there to confirm his story and take the extra cash in order to get him under the $10,000 limit.

The Customs Card you fill out asks you if you have more than $10,000 on your person or in your luggage.


Ah I remeber I read in another thread the whole "10,000" limit was to preven money laundering.

OP 3 million sounds way too low, unless thats 3 million US dollars.
Like others mentioned I think wherever you got that information is wrong. I don't think any of us have heard of such a rule.
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travelnguy



Joined: 27 Sep 2007
PostPosted: Tue Nov 11, 2008 4:16 pm    Post subject: Reply with quote
There is no limit on how much you can take out of a country. There is a $10,000 mark that is set. Anything over that $10,000 has to be declared. You can still take it out of the country. You might just have to prove how you earned the money to be sure that taxes have been paid.
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Freakstar



Joined: 29 Jun 2007
PostPosted: Tue Nov 11, 2008 5:34 pm    Post subject: Reply with quote
travelnguy wrote:
There is no limit on how much you can take out of a country. There is a $10,000 mark that is set. Anything over that $10,000 has to be declared. You can still take it out of the country. You might just have to prove how you earned the money to be sure that taxes have been paid.


Travelnguy is right.
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cruisemonkey



Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
PostPosted: Tue Nov 11, 2008 6:19 pm    Post subject: Reply with quote
Yes, there's no limit on how much you can take out; but most countries require you make a declaration if you are bringing more than $10,000 in.

It's not that you CAN'T bring more than $10,000 in - but only that you declare it.
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victorology



Joined: 10 Sep 2007
PostPosted: Tue Nov 11, 2008 6:20 pm    Post subject: Reply with quote
Teelo wrote:
Out of curiosity, how will they even know?
Unless they scan your bags and see food or drugs or something, and have to search your bags... how would they know if you're taking in 500 million?


They can't know for sure but they can catch you at customs. They basically profile you at baggage claim and while you're walking out of customs. A lot of people who knowingly break these rules may show visible signs of nervousness and they'll