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HOME > About CAU > On Korea |
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Economy
South Korea is estimated to have become the world's 10th biggest economy in terms of gross domestic product (GDP) in 2004. According to the Korean Ministry of Commerce, Industry and Energy on Jan. 27, Korea's GDP, a measure of economic size, was estimated at $667.4 billion in 2004, up from 605.2 billion in 2003 when Korea ranked 11th in world GDP. The figure is bigger than the $663.1 billion estimated for the 2004 GDP of Mexico, which was the world's 10th largest economy in 2003. Per capita gross national product (GNP) was also expected to reach $14,100 in 2004, up from $12,030 in 2003. In particular, South Korea is believed to have topped the world in thin film transistor liquid crystal display (TFT LCD) output, sales of dynamic random access memory (DRAM) and sales of fresh memory.
Religion
Religious freedom is guaranteed by the Constitution of the Republic of Korea. Among more than three hundred registered religions, Buddhism and Confucianism have been the dominant faiths and have shaped the lives and attitudes of Koreans since the Three Kingdoms Period. Christianity has developed a vast following since its introduction in the late 18th century, and its influence has been grown throughout the society.
Education
Koreans put great concern on education, so illiteracy is almost non-existent. Children begin six years of elementary education when they turn six years old. After three years of study in the middle school and three years in the high school, students have the opportunity to advance to university for four years of higher education and should take a competitive national examination. Only 30% of high school graduates get admissions to universities. The fierce competition in university entrance is, thus, often referred to as "admission war." Today's parents are placing more attention on early education for their children, and preschools are growing rapidly to meet this need. |

Korea lies in the temperate zone and has four distinct seasons.
Spring is mostly sunny and clear, but winds bring 'yellow dust' from China. The dust is believed to be river sand, mixed with pollution particles. This phenomenon is observed to be more severe every year due to the effect of global warming and economic development of the neighboring regions of China. Some people suffer from allergies when the wind coming from China is strong, but overall spring is very beautiful with cherry blossoms. Azalea and magnolia bloom everywhere. This is a good season to take pictures of Korea.
Summer is relatively hot (over 25C/77F). During the monsoon rain period, which starts from the end of June and lasts until late July, the air in Korea is extremely humid. Floods periodically occur at the end of the summer and cause considerable economic damage; however, in urban areas, floods are of no serious danger.
Autumn comes with clear and dry weather, which makes the fall months the most pleasant time of year. Nature is very beautiful, with maple trees wearing vivid gold and vibrant red leaves.
Winter is very cold (-5~-10C/15~25F) and windy, with occasional rain and snow. An interesting feature of winter is that usually three or four days of cold weather are followed by four warmer days. The air is very dry, and proper additional skin care is often required. |

You will easily find Korean and foreign banks in Seoul. You can use most of international credit cards such as Visa, Master, or Diner's Club. We strongly suggest that you open a bank account at Woori Bank's CAU branch, which is located in the Student Union building. Opening an account is easy and free of charge. You only need to fill out a form and present your passport. You will then receive a debit card (NOT a credit card or international payment card) that you can use for withdrawing/depositing money at the ATM. You will also receive a deposit book in which you can record all your banking transactions. However, obtaining a credit card requires a complicated procedure for foreigners in Korea.
You can do all kinds of transactions at the bank such as money transfer, exchange, cash withdrawal, bill payment, etc. When you go to the bank, you should take a waiting ticket and you will be called by the number. Occasionally, you will have to be extremely patient, because you may have to wait for several hours, particularly at the beginning of the semester when students come to pay their tuitions. Lunchtime is also a busy time at the bank. Try to avoid these busy hours.
Banking hours
Monday through Friday, 09:30-16:30
ATM
ATMs are located in all subway stations, and you can withdraw money any time (this may differ if you are outside the city). In most cases, both cash and bank checks are available. When you want to withdraw cash from the ATM, you will be charged approximately W600 if you use the machine outside of the bank's normal office hours (9-5 PM), and approximately W1,200 if you use a machine of another bank. |

Denominations
The Korean currency is called 'Won.' Both coins and banknotes are available: \10, \50, \100, and \500 for coins, and \1,000, \5,000 and \10,000 for banknotes.
Currency Exchange
Foreign currency and traveler's checks can be exchanged into Korean currency at banks in the airport, foreign exchange banks, and other authorized money exchange places. The exchange rate is subject to market fluctuations. To find a daily updated currency converter, go to http://www.xe.net/ucc.
Cash is widely used, and debit cards (i.e. like the card you can get from Woori Bank) are more useful in certain places like department stores, big shops, restaurants, and hotels.
There are no personal checks, but there are bank checks of \100,000, \500,000, and \1,000,000 that can be used as notes. When you use a bank check, you must show your ID card or passport and write down your personal information and contact number on the back of the check. Shops in smaller towns will often not accept these bank checks. You may also use dollars and yen in certain tourist areas such as Itaewon and Insadong.
Visa, American Express, Diner's Club and Master Card are accepted at major hotels, shops, and restaurants in large cities. Contact your credit card company for details of merchant acceptability and other services available. Be aware that your international credit card may not work with Korean ATMs, and therefore you are recommended to always carry some cash with you just in case. |

Korea enjoys a well developed telephone system for both domestic and international calls. For major cities, telephone numbers consist of seven or eight digits. The country code of Korea is 82.
Public Phones
Public phone booths are located everywhere. Both coins (\10, \50 and \100) and phone cards can be used. Phone cards of \2,000, \3,000, \5,000, \10,000 are sold in small shops, banks, post offices, etc. Credit card telephones are also available.
A local call rate is \70 per three minutes; a long-distance call costs considerably more. International calls can be made from any public phone by using a phone card. International and collect calls can also be made through the operator by dialing 00799. For English speaking operators and telephone directory assistance in Korea, dial 080-211-0114.
Cellular Phones ('Hand Phones')
Korea is the country of cellular phones. Several companies offer cellular phone service, and the number of cellular phone users exceeds the number of home phone users. 010, 011, 016, 017, 018, 019 are cellular phone numbers operated by different companies. Rates vary depending on the company and plan. Using a cellular phone is much more expensive than using a public phone. Officially, foreigners are not allowed to register for cellular phone services, but you may ask help from a Korean friend.
How to rent a cellular phone:
At the Incheon International Airport you can find several mobile phone rental shops on the first floor of the airport (Gate 6 and 10). To rent a phone you need a credit card, passport, and need to know how many months you will be using it. In order to use the phone, you should buy a prepaid phone card (\10,000 minimum). The rental charges as well as the phone rates vary depending on the company.
At a local cellular phone store you can activate a mobile phone with your Alien Registration card, passport, and a credit card. |

As a foreigner, you need an international driver's license to drive in Korea. It will be better for you to issue and bring your international driver's license from your country than getting one in Korea.
Seoul has well developed public transportation system. The intelligently planned combination of taxi, bus, and subway services makes it possible to get around Seoul without any problem. Keep in mind that traffic is very heavy and during rush hour and on special occasions (national holidays, summer vacation, etc.). Traffic is reported as the main problem people face in Seoul.
Subway
The subway is fast, clean and safe. Trains run from 6 A.M. to about midnight (time may vary slightly depending on the station), at three to seven minutes' intervals. Cars have heating and air conditioning. The subway system covers nearly the whole city, and more new lines are being constructed. In addition, the subway links Seoul with major satellite cities, and line no. 1 is connected to the Korean National Railroad (KNR). All lines have different assigned colors, and all the names of stations and most of the signboards are written in both Korean and English. Announcements are made in both languages as well. Escalators and facilities for disabled people are well developed. Large subway maps are posted at each station as well as in the train. Neighborhood map is posted near all exits. The Seoul subway is great!
More information on Seoul subway system is available at www.seoulsubway.co.kr.
Bus
Buses are numbered according to their routes. However, the system is quite complicated, since the same number but different color will bring you to a different place. All signs and announcements are in Korean, so buses are somewhat difficult to use at first. However, after you spend some time to adjust, buses may prove to be occasionally more convenient than the subway. But be careful during rush hour! Even though buses use a special lane, heavy traffic can slow them down.
Fare can be paid with cash or a transportation card. When you use the card, the amount is automatically deducted from the card when it touches the card reader located next to the driver. Empty cards can be recharged at bus stop booths. If you wish to get off a bus, there are buttons on the bus wall or ceiling that you can press to indicate you are getting off.
Taxi
Taxis are plentiful and relatively cheap. They can be taken on the street, and you do not have to tip when using taxi. |
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