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To: Robert F. Newton who wrote (12175)	2/19/1998 1:33:00 AM
From: Jeffrey S. Mitchell	Read Replies (3) \| Respond to of 17305

Re: How to get an all-expense paid (free) trip to Korea With the weakness of the Korean Won, there is a huge demand for American dollars over there. The only way American dollars can get into the country is if they are carried in. This scarcity has spawned a network of gray-market money dealers. The official exchange rate is 1600 won per dollar, but if you find the right person you can supposedly get 2000. Last year around this time it was 850! So... Suppose the plane fare is $1000 (it's actually under $900 on Korean Air). Suppose you stay at a five-star hotel for a week @$100/night (normally $200/night, but the exchange rate makes them half-price) for $700. Suppose you eat like a king every night (goumet meal with wine) @$100/night for $700. Then suppose you throw in $1000 spending money. That's a total of $3400. Now, suppose you bring with you $15K in cash. Simply convert it to Korean won at a 25% premium to the exchange rate, and, voila, you now have made $3750. Lastly, go to a bank and wire the money back to America or exchange it to dollars at the airport. Even after wire fees you will still have a profit! Well, that's the theory. Is this scenario too good to be true? When I go to Korea this Saturday (postponed from today), I'll let you know if it works in practice. I should point out that when I visited China in '89 (during the Tiananmen uprising), there were all sorts of people who would whisper "change you money", and, yes, they would give you a much better rate than the banks. - Jeff P.S. Yes, I'll pass your lead on to ALYD.