Business/Money in Korea, Seoul

5 Reviews

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  • 1000 Won note
    1000 Won note
    by Ewingjr98
  • Won
    Won
    by kiwigal_1
  • Ewingjr98's Profile Photo

    Korean Money

    by Ewingjr98 Updated Mar 24, 2006

    2.5 out of 5 starsHelpfulness

    1000 Won note

    Korean bills come in only 1000, 5000, and 10,000 Won notes. Coins come in 50, 100, and 500 won. Since the exchange rate is around 1150 Won to a dollar, you'll see that it takes a lot of paper to pay your rent or buy major items. Luckily, there are bank checks for 100,000 and 1,000,000 won, not really money, but it's the next best thing.

    A new 5,000 Won note has been used since 1 Jan 2006 and A new 1,000 Won note was recently revealed and will go into circulation in 2007.

    Related to:
    • Business Travel
    • Luxury Travel
    • Budget Travel

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  • kiwigal_1's Profile Photo

    CURRENCY

    by kiwigal_1 Updated May 12, 2003

    1.5 out of 5 starsHelpfulness

    Won

    The money in Korea is called the Won. Its value is about 1000 Won to $1 US. It is either impossible or very difficult to change Won outside of Korea. When coming to Korea you may bring any currency with you although I found Japanese Yen or US Dollars to be the most convenient.

    Related to:
    • School Holidays

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    Business: Direct and...

    by carstenj Updated Aug 24, 2002

    1.5 out of 5 starsHelpfulness

    Business: Direct and confrontational behaviour as well as loudness is unacceptable. Korean's are polite and well behaved always, and very quite people. You should never openly correct someone in front of everyone else if at all avoidable.

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    Business: Business Cards are...

    by carstenj Updated Aug 24, 2002

    1.5 out of 5 starsHelpfulness

    Business: Business Cards are used as name cards so stock up before going, you'll need them.
    When handing it to someone, you do so using both hands and holding your card so your name is easily read.

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    Business: Whatever you do, do...

    by carstenj Written Aug 24, 2002

    1.5 out of 5 starsHelpfulness

    Business: Whatever you do, do not argue or be lecturing in the open with Koreans in a business environment. You do that in private, if necessary. They will not forgive you if you make them loose face and that is no way to build a professional relationship. They will respect you, if you respect them.

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