Currency & Payment
Exchange rates fluctuate daily. Check current rates locally.
Local Currency Overview
Currency type, banknotes, and coin denominations
The currency is the South Korean won (KRW, ₩). Notes: ₩1,000/5,000/10,000/50,000; coins: ₩10/50/100/500.
- Currency
- South Korean won (KRW, ₩)
- Notes
- ₩1,000 / 5,000 / 10,000 / 50,000
- Coins
- ₩10 / 50 / 100 / 500
- Korea is largely cashless; cards work almost everywhere
Currency Exchange Tips
Best places and methods to exchange money
Exchange at banks, airport counters or licensed money changers in areas like Myeongdong. WOWPASS kiosks also convert cash to a prepaid card.
- Where
- Banks, airport, licensed changers (Myeongdong)
- Rates
- Downtown changers often beat airport rates
- WOWPASS
- Kiosks exchange cash and load a prepaid card
- Cards are so widely accepted you may need little cash
Credit Card Acceptance
Card brand availability and usage tips
Cards are accepted almost everywhere, from taxis to street-side stores. Visa/Mastercard work widely; contactless is common.
- Acceptance
- Near-universal, incl. small shops and taxis
- Networks
- Visa/Mastercard widely; Amex less so
- Contactless
- Widely supported
- Keep a little cash for traditional markets and small vendors
ATM Usage
How to withdraw cash and associated fees
Look for ATMs marked "Global" or "Foreign Card" at banks, convenience stores and airports. They have English menus.
- Find
- Global/foreign-card ATMs; convenience stores 24h
- Language
- English menus available
- Fees
- Withdrawal fees apply; check with your bank
- Some ATMs have daily withdrawal limits and closing hours
Mobile & Digital Payments
Digital payment services available locally
Local apps (KakaoPay, Naver Pay) dominate but often need a Korean bank/number. Visitors can use cards or a WOWPASS-linked wallet.
- Local apps
- KakaoPay/Naver Pay (usually residents only)
- Visitors
- Cards, Apple/Google Pay where supported, WOWPASS
- Tip
- A contactless card covers most needs
- T-money can be added to some phones for transit and stores
Tipping Culture
Expected tipping amounts and etiquette
Tipping is not customary in Korea. Prices are as marked; upscale hotels/restaurants may add a service charge.
- Restaurants
- No tip expected
- Taxis
- No tip; round up if you wish
- Hotels
- Service charge may be included at upscale venues
- Leaving extra cash can even cause confusion
Price Guide
Average costs for meals, transport, and accommodation
Everyday costs are moderate. A simple meal runs about ₩8,000–12,000; a subway ride around ₩1,400; a cafe coffee ₩4,500–5,500.
- Casual meal
- ≈ ₩8,000–12,000
- Subway/bus
- ≈ ₩1,400 base fare
- Coffee
- ≈ ₩4,500–5,500
- Prices are indicative and vary by area and season
Foreign tourists can reclaim VAT on purchases of ₩15,000+ at Tax Free stores. Refund at the store, downtown booths, or the airport before departure.
- Minimum
- ₩15,000+ per store/transaction
- Eligibility
- Visitors staying under 6 months; show passport
- Where
- Instant in-store, downtown booths, or airport
- Claim within 3 months of purchase; keep receipts and goods