Spending money in Korea: exchange, cards, and cash
Korea’s currency is the won (KRW); notes come in 1,000 / 5,000 / 10,000 / 50,000 and coins in 10 / 50 / 100 / 500. The calculator above uses Korea Eximbank reference rates to give an approximate amount—your actual rate varies slightly by exchange method and timing.
Cash vs card
Card payment is extremely common in Korea, and most convenience stores, restaurants, and taxis accept foreign-issued cards. That said, traditional markets, some street vendors, and small eateries may be cash-only, so it’s wise to carry roughly 50,000–100,000 won in cash.
Exchange tips
- Change a little before you fly: just enough for airport transport and your first meal.
- Downtown exchange booths: private booths in areas like Myeongdong or Itaewon often beat airport and bank rates.
- Travel cards: a low-fee travel or foreign-currency debit card reduces how much cash you need to exchange.
- ATM withdrawals: “Global ATMs” at airports and convenience stores dispense won from foreign cards.
Tax refunds
Spend above the threshold at a “Tax Free” store and you can reclaim part of the VAT. Keep your receipt and passport, and process the refund at the airport or a downtown counter. For full budgeting, see the Korea budget guide.