Does it matter when you convert to won?

You are slightly overthinking it, but not entirely — on a large single payment the swing is real money.

The scale: on 1,800,000 won, a 5 percent move in the rate is about 90,000 won. Over a year with tuition and living costs, a sustained 5 percent move might be 300,000 to 500,000 won. Meaningful, not life-changing, and not worth losing sleep over.

What is actually worth doing:

1. Do not try to time the market. Currency movements over a three-month horizon are not predictable, and students who wait for a better rate frequently end up paying worse ones plus a late fee.

2. Do control the spread, which you can predict. The difference between a bank's retail rate and a service like Wise is typically 2 to 4 percent — larger than most of the rate movement you would be trying to catch. Choosing the cheaper transfer method is a guaranteed saving; timing is a gamble.

3. Split large transfers if the timing is flexible. Sending living costs monthly rather than in one lump averages your rate out and removes the decision entirely. This is the sensible default.

4. Do not hold a large won balance for months just to lock a rate. It is uninsured currency risk in the other direction, and Korean accounts pay negligible interest.

5. Do pay tuition on time. A favourable rate does not compensate for a late payment problem.

The one exception worth acting on: if your currency has just moved sharply in your favour and you have the cash available, converting the tuition amount then is reasonable. That is taking an opportunity, not predicting one.

Practical default: pay tuition by bank transfer when the invoice comes, move living costs monthly with a low-fee service, and spend your attention on the fees rather than the rate.