Korean Job Discussion Forums

[SeoulShakin]

Hello to my fellow Canadian posters.

It's been about a year since I've been home in Canada, and I'm not so much a fan. I think about Korea more and more lately, and am curious as to how the won is to the Canadian dollar now when sending money home?

I know that money shouldn't be the only factor about where you live and what you do for work, but when you have student debt to be paid off, it seems to take over your life sometimes. I have a stable job here in Canada as a chiropractic assistant, and doing administration work, but it's not the same. I miss always having something to do, like I did in Seoul. It's hard comparing the numbers back to '06 when I first got there and knowing how much less I'd actually be banking now.

Anyway, I hope I'm finding everyone well, and any thoughts would be appreciated.

[wunderkind]

let me solve this for you

http://www.xe.com/ucc/

now do the work yourself

[espoir]

its still down from when i got here in sept. its been hovering around 1140 for a week now, but thats betetr than 2 weeks ago when it was above 1200.

[SeoulShakin]

No need to be so short, and quite frankly unhelpful.

I've been looking at this information on the internet on my own, and have been told by someone that the rates on xe.com do not always match the rates at the banks in Korea. I was hoping that someone who has transfered money lately could give me an inside perspective, rather than show me a website and offer nothing else.

I suppose I should have said that I've already looked at online conversions, but either way, if anyone could offer some inside perspective I'd greatly appreciate it.

[SeoulShakin]

Thank you espoir, that was the kind of information I was looking for.

[bundangbabo]

Get back here! Thats an order!

[SeoulShakin]

I believe your previous posting persona owes me a coffee?

[bundangbabo]

[oldtactics]

It's better than it was last week, but not as good as it was a year ago.

[Chamchiman]

SeoulShakin,

Here's a site for you to check out:

http://finance.yahoo.com/q/bc?s=CADKRW=X&t=2y&l=on&z=m&q=l&c=

As you can see, as you were winding down your last contract here in Korea things were slowly starting to get a little less favorable for those sending money to Canada. Then you left (around a year ago) and things went absolutely haywire. I'm no statistician but the clear indication is this: your leaving the country sent exchange rates spinning rapidly out of control. The graph seems to suggest that when you come back, things should settle down again nicely.

As for your question about the banks, I use KB and have found that the rates on xe.com more or less match the rate at the bank. However, with the exchange rate looking like a heart attack patient's cardiac monitor, there's no clear indication of EXACTLY what rate you're going to get until you get to the bank. (A twenty point swing for someone sending home three million won is only a forty/fifty dollar swing anyway, so I was never SO concerned about the difference between the rate on xe.com and the rate at the bank. Within ten points or so is more than accurate enough for me.)

[tigercat]

[lionel]

If you google something like "keb, english", it should link you to the Korean bank's English main page. From there go to their exchange rate pages which are usually update all the time. I use the KEB one, http://www.keb.co.kr/IBS/nebanking/en/fx/fx/ca_100.jsp?vcode=18000000000000&scode=18010100000000

They also have monthly exchange rate forecasts and useful products (if you are in a customer). One I like is the ability to set your target exchange rate, and if it hits that, your money is automatically transferred.

Good luck,

[tigercat]