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what to bring to korea? american or canadian dollars? gifts?
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xox



Joined: 11 Jun 2006
Location: Bundang

PostPosted: Fri Jul 21, 2006 6:59 am    Post subject: what to bring to korea? american or canadian dollars? gifts? Reply with quote

I was just wondering what would be better to bring American or Canadian to be deposited into banks.
As well gifts, considering that people can get almost anything overseas what would make a stand out gift to your co-workers and such?
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Hapkido-In



Joined: 24 Jun 2006

PostPosted: Fri Jul 21, 2006 8:45 am    Post subject: Reply with quote

Both Canadian and US dollars are accepted at KB bank here in Korea. KBs are everywhere, too, so you won't have a hard time finding one.

I've brought both with me, and have had no problems exchanging either of them for Korea Won in Korea. You might even want to just bring Won with you to Korea, if you are planning to stay for a while.

As for gifts, chocolate bars work pretty well as Korea really only has Snickers, Twix, Kitkat, and Mr. Big. Oh yeah, they also have those Cadburries Milk Chocolate (and a few others in that series) as well as Tobolerone (Uhh, the triangle thing...No idea how to spell it right). So any of Reese's Peanutbutter stuff, Crunchies, Coffee Crisp, ect are always welcome. Doritos are also not readily available here, either, so they also go over really well.

Also, basically everyone here has a cell phone, and people love to tie weird crap to it. So if you can find stuff back home that would be cool to tie to a phone, that'd go over well too. I guess they are sort of like key chains to Koreans.

Anyways, hope my reply helps.
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WorldWide



Joined: 28 Apr 2006

PostPosted: Fri Jul 21, 2006 9:27 am    Post subject: Reply with quote

DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!
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dreaming_saturn



Joined: 26 May 2004

PostPosted: Fri Jul 21, 2006 12:29 pm    Post subject: Reply with quote

Hi, I am leaving for Korea after my holiday in August and was wondering the same thing, only I'm considering taking Euros.
Hapkido-In wrote:
B

As for gifts, chocolate bars work pretty well as Korea really only has ...

Also, basically everyone here has a cell phone, and people love to tie weird crap to it.


I don't know, how many people have brought gifts with them? Is it something common to do there?

I can probably bring some cool Dutch stuff nobody has seen before, little wooden shoes to tie to phones or Belgian chocolates. Seriously, there's no going back to Mars bars after trying them. But my question is, should I? If I did that at a new job in Holland everyone would scoff and assume I was kissing butt.
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Missile Command Kid



Joined: 17 Jul 2006
Location: Daegu

PostPosted: Fri Jul 21, 2006 12:43 pm    Post subject: Reply with quote

WorldWide wrote:
DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!


Why?
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jaderedux



Joined: 10 Jan 2003
Location: Lurking outside Seoul

PostPosted: Fri Jul 21, 2006 12:47 pm    Post subject: Reply with quote

WorldWide wrote:
DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!


Because???? You are so cute! I just see you sitting there in your Che tee and camo pants typing away in communist fervor. You really need to spell it Amerika... that would be so much more angsty!

Bring C.dollars or A. dollars. But other than banks and in Itaewon or that ilk you need WON.

Jade the evil amerikan
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djsmnc



Joined: 20 Jan 2003
Location: Dave's ESL Cafe

PostPosted: Fri Jul 21, 2006 8:32 pm    Post subject: Reply with quote

Bring a boatload of chronic, hell bring a fleet of boats. Infiltrate this country with the green currency that God and nature originally intended on being traded.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Fri Jul 21, 2006 10:04 pm    Post subject: Reply with quote

Missile Command Kid wrote:
WorldWide wrote:
DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!


Why?


Because they continue to depreciate... you lose money if you hold them.

The FED has no intention of supporting the greenback and prefers a weak dollar position because of the economic stimulation it allows by making US exports stronger and imports more expensive.
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Missile Command Kid



Joined: 17 Jul 2006
Location: Daegu

PostPosted: Fri Jul 21, 2006 10:22 pm    Post subject: Reply with quote

ttompatz wrote:
Missile Command Kid wrote:
WorldWide wrote:
DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!


Why?


Because they continue to depreciate... you lose money if you hold them.

The FED has no intention of supporting the greenback and prefers a weak dollar position because of the economic stimulation it allows by making US exports stronger and imports more expensive.


Oh, I see. Of course. I'm Canadian, so I didn't immediately connect worldwide's post with the current situation of the US dollar.

This brings up a question: while teaching in S. Korea, do people tend to keep their savings in a Korean bank account and bring it back all at once, or send back cash throughout the year? The reason I ask is that the Canadian dollar is high relative to the US dollar (no idea how it's doing historically against the won), and as an English major the finer points of high finance are lost on me. What do most people do?
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djsmnc



Joined: 20 Jan 2003
Location: Dave's ESL Cafe

PostPosted: Fri Jul 21, 2006 11:13 pm    Post subject: Reply with quote

Watch the exchange rates and decide for yourself when you get paid. I think that's what just about everyone here does for the most part. If that's a finer point of finance, then I'm Donald Trump.
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Natalia



Joined: 10 Mar 2006

PostPosted: Fri Jul 21, 2006 11:27 pm    Post subject: Reply with quote

Missile Command Kid wrote:
ttompatz wrote:
Missile Command Kid wrote:
WorldWide wrote:
DO NOT USE AMERICAN DOLLARS AS A RESERVE CURRENCY!!!!!


Why?


Because they continue to depreciate... you lose money if you hold them.

The FED has no intention of supporting the greenback and prefers a weak dollar position because of the economic stimulation it allows by making US exports stronger and imports more expensive.


Oh, I see. Of course. I'm Canadian, so I didn't immediately connect worldwide's post with the current situation of the US dollar.

This brings up a question: while teaching in S. Korea, do people tend to keep their savings in a Korean bank account and bring it back all at once, or send back cash throughout the year? The reason I ask is that the Canadian dollar is high relative to the US dollar (no idea how it's doing historically against the won), and as an English major the finer points of high finance are lost on me. What do most people do?


Well, everything aside, the only reason WorldWide said that is because he crazy and uses every post as an excuse to call America evil (look at his avatar). Just read through the other things he's said. Nobody takes him seriously.
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KittyLover



Joined: 20 May 2006

PostPosted: Sat Jul 22, 2006 4:23 am    Post subject: Reply with quote

Can't really say for the money. All I can tell you about that is that I was in for a bit of a shock when I found out my Visa check card didn't work at many atms. After a long look, I found a spot that took it.

As for gifts, a lot of foreign brand names are available, but expensive here, such as stuff from Lacoste, The Body Shop, Levis, Calvin Klein, etc. Gold is expensive too. So if you bring any of this over, it will look like you spent more on a gift than you actually did. Very Happy

On a side note, I noticed bed sheets are overpriced here. I'd bring some from home.
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huffdaddy



Joined: 25 Nov 2005

PostPosted: Sat Jul 22, 2006 7:51 am    Post subject: Reply with quote

Missile Command Kid wrote:

This brings up a question: while teaching in S. Korea, do people tend to keep their savings in a Korean bank account and bring it back all at once, or send back cash throughout the year?


You can open a foreign currency account at most banks. You can then convert your salary to the currency of your choice and keep it here. If you don't need to send money back home, there's no reason to go through the hassle and expense on a regular basis. At least that's what I do.
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bnrockin



Joined: 27 Feb 2006

PostPosted: Sat Jul 22, 2006 4:44 pm    Post subject: Reply with quote

is there anything equivelent to the U.S. FDIC in Korea to protect my money in the bank if for some reason the bank closes down?
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RACETRAITOR



Joined: 24 Oct 2005
Location: Seoul, South Korea

PostPosted: Sun Jul 23, 2006 6:44 pm    Post subject: Reply with quote

I always laugh when I see someone trying to use US currency here. It just looks dumb. Usually when they get desperate, I trade them their money for some Korean won at an extortionate rate (7000 won for $10 US).
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