Saturday, May 26, 2012

Korea: The Budget

Here's the Korea Budget for 5 days/4 nights trip.
All expenses and conversion rates are for April 2012.



1 KRW = 0.040 PHP
1,000 KRW = 40.00 PHP
Group Won
Individual Won
PHP

Rountrip 5J tickets booked in September 2011


    5,240.31





Day 0




22:00
Checkin NAIA




Terminal Fee


1,620.00

Travel Tax


      550.00

Airport snacks


    100.00










   75,000.00
   15,000.00


260,000.00
  130,000.00


T-Money

    10,000.00


Card

     3,000.00


Breakfast

      4,200.00



     3,000.00


Ice Cream

      3,000.00


Souvenirs - Nailcutters bought in Insadong

    9,000.00


Lunch

     7,000.00


Dinner

     10,500.00


Bottled Water

           700.00



     14,000.00


Noodles in 7-11 (for breakfast)

      1,050.00






Day 2





Breakfast

         800.00


Load T-Money

      5,000.00


Everland (discount coupon in website)

     37,000.00


Lunch

       6,800.00


Water

             700.00


Cotton Candy

       2,000.00


Ministop - snacks

             800.00






Day 3





Load T-Money

       5,000.00


Cab Fare (total roundtrip cost)
7,000
         3,500.00


Nami Island Ticket with ferry

      8,000.00


Lunch (Ramen + Topponyaki)

     7,000.00


Waffle

      3,000.00


Family Mart

       2,400.00


Dinner

        7,000.00


Souvenirs

      7,000.00






Day 4





    41,000.00


Lunch at Lottle World

     4,000.00






Day 5









Lunch at Lotteria

       6,400.00







Travel to Airport
   75,000.00
      15,000.00

18:00
Check in Airport



21:35
Depart Korea








Day X




0:35
Back to reality




Total WON

372,850.00


PHP (use 1 KRW=0.040 rate)

   14,914
  7,510.31

TOTAL PHP


 21,678.61

The published exchange rate during that time was 1KRW = Php 0.038. However, since I got my won via ATM withdrawal, I charged with a minimal fee of KRW 3,000. Not bad, really. I have to consider that - so my exchange rate becomes 0.040. 

When converting the value to PHP, always consider the forex rate you got in buying the currency- not the prevailing exchange rate. You can be traveling for an extended period of time and the forex rate may change. But if you got your currency at just one rate at the start of your trip, the swing in the forex rates won't matter.

Looking at all those zeroes in the price tags can be quite dizzying. For simplicity, we pegged KRW 1,000 = approximately USD 1 = PHP 40.

We saved money because we scored two free dinners. My friend has a contact in Korea who took us out to dinner for two nights. Yay! More money for shopping then.

My attempt at creating a wonderful Korean BBQ bite

What's not in the table: my personal shopping expenditures. Teeeeheeee! I've come to love the H&M clothes that I bought from my Europe trip. As of April 2012, H&M has not reach Philippine shores. So I shopped in H&M Myeongdong. :D


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