The Easiest Way to Exchange Money in Korea

When planning a trip to Korea, one of the most common questions international travelers ask is, "Where should I exchange my money?"

South Korea uses the Won (KRW, ₩). While credit and debit cards are widely accepted almost everywhere, you will still run into situations where cash comes in handy. Having a small amount of cash on hand is especially convenient for small shops, traditional markets, and topping up your transportation card.

So, what are the easiest and most convenient ways to exchange currency in Korea?

✈️ 1. Exchanging Currency at the Airport Upon Arrival

If you just landed in Korea, using the airport currency exchange booths is one of the most straightforward options.

Both Incheon International Airport and Gimpo International Airport feature bank branches and exchange booths where you can easily convert your foreign currency into Korean Won.

💡 Airport Exchange TIP

Rather than converting your entire travel budget the moment you land, it's often best to just exchange enough for your initial transit and a quick meal, then handle any additional currency exchange in the city.

Operating hours, exchange rates, and fees vary by booth, so it is a good idea to check them beforehand.

💱 2. Using Exchange Booths in Downtown Seoul

If you find yourself needing more cash during your travels, you can head to officially licensed currency exchange booths.

You will find plenty of these specialized exchange booths catering to international visitors scattered all across Seoul's major tourist hotspots.

Some of the most popular areas include:

• Myeongdong
• Hongdae
• Dongdaemun
• Itaewon
• Gangnam

You can easily spot currency exchange booths in popular tourist areas like Myeongdong, Hongdae, Dongdaemum, Itaewon, and Gangnam.

The Seoul Metropolitan Government also recommends banks, airport exchange counters, and licensed private exchange booths as reliable spots to convert foreign currency into Korean Won.

⚠️ Heads up when exchanging money!

Don't just look at the exchange rate—always check the transaction fees and the final amount of Korean Won you'll actually receive.

It is also much safer to use officially registered and licensed exchange booths.

🏦 3. Exchanging money at a bank

If you prefer the safest and most trusted route, you can head directly to a bank counter.

When exchanging money at a bank, you may be asked to show a valid ID, such as your passport or Alien Registration Card. In fact, Seoul's official guidelines advise foreign visitors to keep their passport or registration card handy for currency exchange.

📝 Step-by-step: Exchanging money at a bank

Visit a bank -> Locate the exchange counter -> Present your passport or ID -> Hand over your foreign cash and specify the amount -> Double-check the exchange rate and total -> Collect your Korean Won.

It’s also a good idea to hang onto your receipt after the transaction.

🏧 4. Withdrawing Korean Won from an ATM using an overseas card

If you'd rather not travel with a large stash of physical cash, you can easily withdraw Korean Won from local ATMs using your foreign debit or credit card.

Just make sure the ATM displays a 'Global ATM' sign and double-check that your card supports international cash withdrawals.

Keep in mind that using a foreign card at an ATM might trigger some extra fees from both your bank and the ATM operator.

It is always a good idea to double-check the exchange rate and any service fees displayed on the screen before you withdraw.

💳 5. Make the most of card payments

Card payments are widely accepted almost everywhere you go in South Korea.

Major international credit and debit cards are accepted at hotels, department stores, large shopping malls, tourist spots, and most restaurants.

💳 Cards You Can Use in Korea

• Visa
• Mastercard
• JCB
• American Express (AMEX)
• UnionPay
• Foreign-issued debit cards

💡 Recommended Payment Setup

💳 Cards + 💵 A little bit of cash

Having both handy will make your trip much smoother.

💰 6. How much cash should you actually exchange?

The right amount of cash really depends on your travel style.

• 🧳 For the casual traveler
• We recommend exchanging a small amount at the airport just to cover transit and a quick bite to eat, then getting more later if you need it.

• 🛍️ For the heavy shopper
• Rely on your cards for most purchases, but keep some Korean Won on hand for traditional markets and places that only take cash.

• 🍜 Planning to check out traditional markets or street food vendors
• It is a good idea to keep some small bills handy, as cash comes in handy for these spots.