The rate offered by banks in Korea is better. The KRW exchange rate offered by money changers in Malaysia is around KRW1,000 = RM2.86-RM2.88. However, banks in Korea can offer you around KRW1,000 = RM2.76-RM2.83. Getting KRW1,000 at just RM2.76 is possible at all Hana Bank branches in Seoul (their money exchange booths at the airport quote slightly higher rate) provided you have an Asiana Airlines boarding pass. Otherwise, the rate is KRW1,000 = RM2.83 and this is still better than the rate offered by local money changers. And yes, Hana Bank accepts MYR in all of their money exchange booths as well as in all their 650 branches in South Korea.

Yeah, just bring MYR to Seoul with you will do. Have a great time in Seoul. PM me if you want to know where to buy original and cheap K-Pop CD Album that comes with a thick photo album


No. I did not buy USD here in Malaysia. As a matter of fact, i arrived at Incheon International Airport two weeks ago with no other currency notes other than our own Malaysian Ringgit. I bought Korean Won at the Hana Bank money exchange booth at Incheon International Airport with 50% preferential rate by showing my Asiana Airlines boarding pass as i flew Asiana Airlines from Kota Kinabalu to Seoul.


Actually, the rate i got at Hana Bank (with 50% preferential rate of course which is part of the privilege of flying Asiana Airlines into South Korea) is much better than the rate offered by local money changers. I found out that money changers in Malaysia were selling KRW1,000 for RM2.85-RM2.86 on 11th October 2011. However, i bought my Korean Won at a Hana Bank branch in downtown Seoul for just KRW1,000 = RM2.753 I still have the receipt with me actually. Will try to find it and post it up here later. Seriously guys, it's better to just sell your MYR for Korean Won in South Korea


No. You don't. You can just bring MYR to Seoul with you and exchange it for Korean Won at either Hana Bank, Shinhan Bank or Korea Exchange Bank (KEB). These are the three Korean banks that buy MYR in cash (that i know of)

Speaking of Wawasan Sentosa, anyone knows what happened to them ? They have not been updating their website in over a month and when i was in KL about two weeks ago, their shoplot was open and there was only one Indian guy inside. Their competitor, MV Money Changer had many people lining outside but not at Wawasan Sentosa. It seemed that they were not allowed to trade...

Hopefully they will sort of the licensing issue soon and most important, back to updating their exchange rate on their website on a daily basis again. They may not always offer the lowest rate but their exchange rate is very competitive and i always use their exchange rate as a reference whenever i want to buy foreign currency, be it from them or other money changer. Thanks for the info, by the way

Exchange rate is lower in Bukit Bintang. Bought my THB from a Maybank money exchange booth in Bukit Bintang last time. After all, the rate quoted is exactly the same as all other 10+ money changers in that area. Thought i might as well buy it from an established financial institution. I got a proper receipt too

Almost all money changers in Kota Kinabalu are still selling KRW for just RM2.85.

Below is the receipt from Hana Bank i promised to post here earlier




And below is my Asiana Airlines boarding pass which entitled me for the preferential exchange rate at Hana Bank. Do note that Asiana Airlines only flies to Kota Kinabalu in Malaysia.



This post has been edited by MilesAndMore: Nov 21 2011, 11:26 PM

That's weird. The Hana Bank branch i went to is located inside D Cube Shopping Centre in Sindorim. I stayed at Sheraton Seoul D Cube and the hotel is inside that building. So it was very convenient for me.

The first thing i asked when i walked into the branch is whether they buy foreign currency at this branch and they said yes. I was then asked what currency i wanted to sell and i answered Malaysian Ringgit. They gladly said can... can and asked me to have a seat. The branch manager also came out because the teller attending me didn't speak much English.

It is very likely the staffs at that particular Hana Bank branch you walked into has never dealt in selling or buying MYR. So they thought they can't buy MYR.


Yes. That is the preferential rate for Asiana Airlines passenger. Without the preferential rate, the rate quoted to me was 2.83. Once i took out my Asiana Airlines boarding pass and showed it to the branch manager, he said ah... Asiana boarding pass, special rate special rate

By the way, before that i sold some of my MYR at one of the many Hana Bank foreign exchange booths at Incheon Airport. So i know that Hana Bank is one of the few Korean banks that actually buy MYR in cash. The rate quoted at their foreign exchange booth at the airport is slightly higher than their branches in downtown Seoul even with the Asiana Airlines 50% preferential rate. So it is recommended that one sells their MYR at Hana Bank in downtown Seoul.


The actual market rate is even lower. That is why they can sold me the KRW for just KRW1,000 = RM2.753. So one can imagine just how much those money changers in Malaysia can actually earn if many people buy KRW from them

By the way, Hana Bank also can buy MYR (cash) even if you are not an Asiana Airlines passenger. Just that the rate will be higher.

This post has been edited by MilesAndMore: Dec 1 2011, 12:17 AM

Must be a Sheraton guest ? I did not know that. I didn't even tell them i was staying upstairs. I also did not tell them i have an Asiana Airlines boarding pass initially. Anyway, going to Seoul again next year and i will try again. Hopefully i won't face any problem

So basically you are saying that they will only buy your Malaysian Ringgit provided you are staying upstairs (Sheraton Seoul D Cube) ?


That's expensive

LOL. Though it didn't work, it was still a good try. Anyway, this reminds me to bring the Hana Bank receipt next time i go there. Luckily i still keep that receipt with me


Most likely they will ask you to produce your hotel key card or alternatively, they can call the hotel directly. After all, the hotel is just upstairs


Most likely i will go in April. Will bring my grandparents along. Pretty much why we intend to go in April instead because April is not so cold anymore. But i'll drop you a PM in case i'm going early

By the way, have you tried Shinhan Bank ?

Oh yeah, the Hana Bank and Shinhan Bank money exchange booths at Incheon definitely buy MYR. Shinhan Bank even displays MYR exchange rate on the board. The exchange rate isn't that good though without the Asiana Airlines boarding pass.

Sure. Will do


LOL. Yeah, Woori Bank definitely can't. I've tried there before too in one of their branches in Gangnam

Saw the boss (or his staff) there last week. It was Saturday morning. The place is still theirs. I guess they are still waiting for their license to be renewed...

Thanks a lot for the link Noticed their Korean Won is so cheap!

Yusul Money Changer Latest Currency Exchange Rates


Yes. Still closed as of two weeks ago.

This post has been edited by MilesAndMore: Feb 15 2012, 07:46 PM

Dongdaemun Station Exit 6. Buy your USD here in Malaysia first.

Yes, and the money changer outside Dongdaemun Station Exit 6 provides the highest buying rate for USD i've come across. And just in case you run out of USD and only has MYR available but desperately need to exchange some KRW, this money changer at Dongdaemun buys MYR too. The exchange rate was RM2.82 = KRW1,000 when i was in Seoul three weeks ago. Most money changers in Malaysia were selling KRW1,000 for RM2.80. As you can see, the rate is quite good actually.

Alternatively, you can charge everything into your Maybank VISA or MasterCard as Maybank credit card is known to the best card for overseas use due to their unbeatable final exchange rate. I used my Maybank VISA at a few cosmetics shops, LOTTE, Shinsegae and a theater in Insadong, the lowest exchange rate was RM2.73 = KRW1,000 while the highest was RM2.741 = RM1,000

Look for CIMB Thai ATM if you have a CIMB savings/current account. There are quite a few in Siam Paragon area. If you have not activated your CIMB ATM/debit card, you can activate it through CIMBClicks. But if you don't have access to CIMBClicks, then you can try other bank's ATM card. Look what logo is there on your card (PLUS or Cirrus), you should be able to use your card to withdraw cash at most Thai banks ATM (Bangkok Bank, Kasikorn Thai, Bank of Ayudhya (Krungsri), Siam Commercial Bank etc.)

Sorry for late in replying your PM as i am currently in SG now. Anyway, please check your PM

Some will be the same while some will be slightly different (either more expensive or cheaper).