Koreans typically deal in cash. This will be readily apparent on payday. Do not be alarmed if, as happened to me, you are summoned to a darkened office with your school's director and s/he smiles a bit disconcertingly at you while tapping a thick envelope on the desk. You are just getting paid. There is something extremely satisfying about receiving an envelope stuffed with bills every month, though. In most cases your money will be directly deposited to your account but it still happens that you sometimes will get paid in cash and it is a pretty cool feeling with a 2 million wad of Won in your pocket. In the past, this was paid out in 10,000 Won notes...imagine, 2,000,000 Won in 10,000 Won notes... you don't need to be a mathematician to figure out that that many bills won't fit into your wallet.
With the introduction of the 50,000 Won note managing your salary in Won is a bit more feasible. Although some schools still pay in cash, the standard is shifting to direct deposits into your bank account. It still feels pretty good to have a couple million in your hands!
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