Will my USD be able to buy relatively more of any typical good in South Korea?

I'm traveling to South Korea soon, and after having read that one USD is worth over 1,000 Korean Wons, I would like some clarification from the bright Yahoo! Answers community. Thank you!|||It depends on the exchange rate, how you pay for items in Korea, what you're buying, who you are, and what your spending habits are. The current exchange rate is about 1100 KRW for 1 USD, but I typically like to factor in an additional amount of bank ATM fees for foreign withdrawals and credit card companies' sub-par exchange rates. Check with your banks and credit card companies.



As far as the cost of living goes, it depends on where you go city-wise and location-wise. Seoul usually makes it on the list for one of the most expensive cities in the world, which are usually based on the cost of living. There are neighborhoods (called 'dong') that vary in cost. In general, items from Gangnam and Apgujeong will be more expensive and higher quality than what you'd see in Namdaemun or Dongdaemun.



I live in Minneapolis, and compared to my cost of living, the housing is pretty expensive, taxis and public transportation are relatively cheap, and food and clothing are approximately the same. One perk I remember is you don't tip there (it's actually kind of offensive) so that saves some money. If you buy imported foreign goods (American, European brands), the cost goes way up. Alcohol, clothing, and food are good examples. So stick with the soju, don't go to Korea to shop at Banana Republic, and if you have some favorite snacks, pack a few along (I had my mom send me Cheezits). There are foreign markets (many in Itaewon), but it's expensive.



Be warned that some Koreans may try to charge a "premium" if they realize you're a foreigner. When you're there, take note on how nothing in the markets has price tags! When taking a taxi, try to be a little familiar with the route; otherwise, you might end up taking a little side trip around the city to rack up a larger fare.



I met a lot of Scandinavians and Australians in Seoul and they all thought it was dirt cheap b/c their currencies are valued higher and their cost of livings are so high. So, at the end of the day, it depends on a lot of factors. If you do it right, yes, your USD will buy "relatively more of any typical good", but if you're a typical gregarious American tourist with a credit card, you might end up spending a lot more than necessary!|||Yes, anytime USD is worth over 1,000 Won, it's pretty good exchange rate so your money will go a bit longer. Besides that, food is much cheaper in South Korea.





For example, Marlboro lights are only 2,500 won in Korea, about $2.20.