Korean Job Discussion Forums

[So Sincere]

I'm heading to Busan soon and I'd like to get my hands on some SKW, but the local exchange extortionist (Travelex) is quoting a rate of approximately $1=₩880 while xe.com gives a rate of $1=₩1,034. Looking at about a ₩60,000 difference on a $400 exchange.

I realize that the XE rate doesn't account for fees and other sorts of shenanigans, but can anyone comment on whether I am better off exchanging my USD into SKW at Gimhae or at a local bank in Busan? Am I better off exchanging before I depart?

Tips, not the cash type, unless you really want to, are appreciated. Thanks.

[ttompatz]

[So Sincere]

Thanks for the info.

I was literally about to head to my local bank because they quoted me ₩380,000 for $400.

Based on your advice I should probably exchange a small amount (~$100) at PUS (not traveling through ICN), and then more at a bank if I need to later.

Follow up question, do I need an ARC or bank account to exchange USD for SKW at a bank outside of the airport? I can't remember if my bank account was arranged before or after I had my ARC last time.

Thanks

[CentralCali]

Go to the international ferry pier in Pusan or the banks at the airport in Gimhae. The banks there will give you the good rates mentioned above. Also they will not screw with your passport like a number of other banks in Korea are wont to do.

[So Sincere]

I just remembered that my flight gets into PUS at around 10pm, maybe later as I am connecting through Beijing.

Does anyone know if the banks and/or exchange merchants will be open that late at night?

[PureLuck]

[Dr. Lipschitz]

Nampo- dong. Black market money changing adjumas on the side of the road.