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www.groovekorea.com / September 2014 46 AbOuT ThE WRITER Paul Sharkie is the Foreign Client Relationship Manager for Shinhan Bank’s Foreign Customer Department. Please visit Shinhan Expat Banking on Facebook for more information. The banking information provided in this column is based on Shinhan Bank policies and may not be applicable to all banks in Korea. — Ed. A s was discussed last month, there are some very legitimate precautions to consider before signing up for a credit card in Korea. Some people will have seen my advice as a justification for staying as far as possible from credit cards in Korea and assume they are not an option for them. When used responsibly, however, a Korean credit card can often offer many more benefits than a simple debit card, and can even provide more security for your everyday finances. Although I previously emphasized how easily tarnished a Korean credit rating can be when it comes to late payments, I would also like to shed some positive light on flashing your plastic in the ROK. So, why should you get a credit card in Korea? ThE MONEy COLuMN Edited by Matthew Lamers (mattlamers@groovekorea.com) INSIghT Column by Paul Sharkie / Illustration by Christina Singer If you’re told you do not qualify for a regular credit card, you may be able to apply for what is known as a secured credit card, which involves putting down a deposit of money that acts as security for the credit card provider to then issue you with a card and an agreed limit. WhY gET A CREdiT CARd iN KOREA? REVisiTiNg ThE BRighTER sidE Of fLAshiNg pLAsTi C