Korean Job Discussion Forums

ESeufert · Joined: 27 Dec 2006

I'm leaving for Seoul at the end of March, and I'm not sure what to do about that first month before receiving my paycheck. I'll have about $1000 saved to live off of, but I'm not sure how I'll have access to it. I've got an account with an American bank that I plan to transfer my Korean money into at the end of each month. Should I bring, say, $200 in cash with me to Seoul and then try to transfer the remaining $800 I have saved into a Korean account once I'm able to open one? I really don't want to bring all of my money with me in cash.

braunshade · Joined: 19 Apr 2006 Location: Somewhere better!

$1000 cash really is not that much to carry with you!

ESeufert · Joined: 27 Dec 2006

Satin · Joined: 26 Oct 2006 Location: Texas

If you have a debit card with pulse or cirrus on it, you can use it at international atm's in Korea.

Bring at least $500 in cash and exchange it for Won at the airport in Korea.
Once you open a Korean bank account you can transfer money but you will pay a service fee.

$1,000 cash isn't unusal in Korea to have on hand. Just don't wave it around in public. Mugging isn't as common as in many other countries.

corroonb · Joined: 04 Aug 2006

I brought about 1,500 Euro with me which is a good bit more than $1,000. You are unlikely to get robbed if you wear a money belt and are reasonably sensible, (No flashing the cash.) but do what you feel comfortable doing, you could always get a family member to wire you most of it after you have a bank account.

goodgood · Joined: 22 Nov 2006 Location: seoul

If you get mugged here, I will personally give you all your money back. Not gonna happen. (Somebody'll steal your scooter once you get one, but that's a whole different thing)

kigolo1881 · Joined: 30 Jul 2006

GoodGood, you're such a nice person.

JustSherry · Joined: 28 Jan 2007

While I was in Korea, my friend got her purse stolen out of her apartment while she was sleeping at night. BUT... the police came the next day and put black dust around. They investigated and a week later, her purse was back in her hands with EVERYTHING in it. The police do there job in Korea, so incidents like this are VERY few. I don't think you will get your money stolen! However, I wouldn't advise getting travelers checks because I had a difficult time getting them cashed right away. I had to wait until my school helped me open a bank account.

sock · Joined: 07 Oct 2006

Quote:

The police do there job in Korea

Sherry, are you on drugs? Should you be?

I have never, EVER witnessed the police `doing their job` and nobody I know has ever had any evidence of that either. It must have been a true Christmas miracle. Cool

That being said, I`m glad that you/your friend`s experience ended well.

OP: You need to go to your bank and have your cash in an account that is tied to a visa or mastercard. Ask for an international debit card (ie one that will work overseas). It`s easier than bringing cash, and even though you`ll pay a buttload for the fees & exchange rates, it`s so, so handy to be able to walk off the plane, walk up to the nearest ATM, and leave with Korean won in hand. One less thing to stress about in a foreign country.

Fresh Prince · Joined: 05 Dec 2006 Location: The glorious nation of Korea

Everyone hear has good advice.

My suggestion is to do what the other posters have said.

Bring $500 and convert when you arrive at the airport in Korea. Make sure you have a Visa or Mastercard logo on your U.S. atm card, if you don't, get a different bank account where they will give you a card that has one.

You will likely go through that $500 before you get your first paycheck but you can withdraw money from some atms as long as you have the Visa or Mastercard logo on your atm card. Also, tell your bank you will be in Korea before you leave home or they might shut off your card if you use it here.

saybanana · Joined: 28 Mar 2006 Location: LA

I brought about $USD500 in cash with me.
I had some money in the bank, but I wasnt sure if my ATM card would work because I got a new one two days before I left.
I do have credit cards in case as a backup and could charge everything until I got my first paycheck.
I also ended up bringing a lot of my own things from home like sheets, clothes so I wouldnt need to by everything when I came.

Korea is pretty safe, but I think the more safer you think of it, youll put down your guard. Get a money waist belt where you can put your passport and cards and stuff. If you put Everything in a wallet or purse you might accientally forget it on the bus, the taxi, or subway. Keep it close to you.