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Arthur Frommer Online
 
Comments, opinion and advice from the founder of Frommer's Travel Guides
Amazingly, the value of the Korean currency has plunged even further from the level we quoted two weeks ago
Just short days ago, you received 1,300 Korean Won for one U.S. dollar (as compared with a rate of only 900 to the dollar last year). And I reported on that phenomenon, suggesting that you might now consider a trip to Seoul.
 
Today, astonishingly enough, you receive 1,700 Won for one U.S. dollar, a further plunge in its value, which makes everything in South Korea -- from automobiles to electronics to custom-made suits -- cheap to the visitor who arrives bearing dollars. Why has this happened? Apparently, South Korea's economic crisis is worse than the one in the U.S., and investors are moving their funds over into the safe haven on the U.S. dollar (let's hope they're correct in regarding the U.S. dollar as a gilt-edged currency).
 
South Korea, at any time, is an interesting destination for its Asian culture and lifestyle; it's now more interesting still for its shopping opportunities, and you might very well consider a trip. Samsung, anybody?
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