Korea Shopping Guide

Currency Exchange

Currency exchange is the process of converting your money into Korean Won (KRW). Although credit cards are widely accepted in Korea, having some cash is still useful.

Currency Exchange infographic
01 — Overview

Quick Summary

Key takeaways

  • Korean Currency — ₩1,000
  • Best Places To Exchange Money — Myeongdong Exchange Centers
  • Incheon Airport — Small Amounts · Emergency Exchange
  • Cash Or Card? — Hotels · Restaurants · Shopping · Attractions
  • ATM Withdrawals — Global ATM · Visa Plus · Mastercard Cirrus
02 — Full Guide

The Complete Guide

What Is Currency Exchange?

Currency exchange is the process of converting your money into Korean Won (KRW).

Although credit cards are widely accepted in Korea, having some cash is still useful.

  • Why Do You Need Korean Won?: Useful For · Traditional Markets · Street Food · Small Shops · Rural Areas · Emergency Situations

Korean Currency

  • Banknotes: ₩1,000
  • ₩5,000: ₩10,000
  • ₩50,000: Coins
  • ₩10: ₩50
  • ₩100: ₩500

Best Places To Exchange Money

Generally offers some of the best exchange rates in Seoul.

  • Myeongdong Exchange Centers
  • Best For: USD · EUR · JPY · CNY

Incheon Airport

Convenient but usually not the best rates.

  • Best For: Small Amounts · Emergency Exchange

Banks

  • Popular Banks: KB Kookmin Bank https://www.kbstar.com
  • Shinhan Bank https://www.shinhan.com: Woori Bank https://www.wooribank.com
  • Hana Bank https://www.kebhana.com: Best For · Safe Transactions · Large Amounts

Cash Or Card?

Recommended for most purchases.

Useful for smaller purchases.

  • Best For: Hotels · Restaurants · Shopping · Attractions
  • Best For: Street Food · Traditional Markets · Small Shops

ATM Withdrawals

Foreign visitors can withdraw Korean Won using international cards.

Some ATMs may charge additional withdrawal fees.

  • Look For: Global ATM · Visa Plus · Mastercard Cirrus
  • Common ATM Locations: Airports · Banks · Subway Stations · Convenience Stores

Currency Exchange Machines

Currency exchange kiosks can be found in major tourist areas.

Exchange rates may vary depending on the machine location.

  • Best For: Quick Exchange · Small Amounts

Recommended Cash Amount

Most visitors can use cards for the majority of purchases.

Most travelers do not need to carry large amounts of cash in Korea.

  • Short Trip (3–5 Days): ₩50,000 ~ ₩100,000
  • One Week: ₩100,000 ~ ₩200,000
  • Longer Trips: ₩200,000+

Just Arrived

  • Airport Exchange (Small Amount)
  • ATM Withdrawal

Jeju Travelers

  • Airport ATM
  • Local Banks

Staying In Seoul

  • Myeongdong Exchange Centers
  • Banks

Mostly Card Users

  • ATM Withdrawal
  • Small Cash Reserve
  • Common Foreigner Mistakes
  • Exchanging all money at the airport
  • Carrying too much cash
  • Not comparing exchange rates
  • Forgetting ATM fees
  • Exchanging money at hotels
  • Carrying all cash in one place

Bank Staff

Can assist with currency exchange and international banking services.

Airport Information Staff

Can direct visitors to exchange counters and ATMs.

Hotel Front Desk Staff

Can recommend nearby exchange locations.

Pro Tips

Pro Tips

  • Exchange only a small amount at the airport.
  • Compare rates in Myeongdong.
  • Carry both cash and cards.
  • Keep emergency cash separate.
  • Use ATMs when exchange rates are favorable.
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