Korean Banking

I decided to keep some money in Korea because I thought my interest rate at HSBC Direct (5.0% previously) would help me make up for the fact the Korean won would tank. It has, but for the second time in a month, the interest rate has been reduced. I now only earn 2%.

I can earn a lot more than that elsewhere, even in a bricks and mortar bank. My money won’t move, since Internet Explorer 8 broke compatibility with that site. Even if there were no software problem, Korea could rely on the fact that they make it pretty much impossible to transfer money internationally without going to the bank in person (for foreigners). Obviously, that is not an option while I am in Taiwan.

If the Korean won continues to be weak, I’ll have good reason to visit there again, such as seeing the pile of rocks between Korean and Japan known as Dokdo. My money at least could finance that trip.


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