If you are traveling to Korea for the first time, one of the first things you may wonder is how to exchange money.
Korea is a largely cashless country, but having some Korean won (KRW) is still useful for transportation, street food, and small shops. Understanding where and how to exchange money can help you avoid unnecessary fees and save time
Where to Exchange Money in Korea
There are several places where you can exchange money in Korea, but the rates and convenience can vary.
The most common options include:
- Airport exchange counters
- Banks in the city
- Currency exchange shops in tourist areas
Airport exchange counters are the easiest option when you first arrive, but they often have slightly higher fees. If you want better rates, exchange shops in areas like Myeongdong usually offer more competitive prices.
Using ATMs in Korea
Another convenient way to get Korean won is by using ATMs.
Most international cards work at global ATMs, especially those marked “Global ATM” or “International.”
Advantages of using ATMs:
- Competitive exchange rates
- Quick and easy access to cash
- Available 24/7 in many locations
However, your bank may charge additional fees, so it’s a good idea to check before your trip.
Credit Cards and Mobile Payments
Korea is very card-friendly, and you can use credit or debit cards almost everywhere.
You can use cards for:
- Restaurants
- Cafes
- Public transportation (with T-money integration)
- Shopping
Mobile payment options like Samsung Pay and KakaoPay are also widely used.
Even so, it’s recommended to carry a small amount of cash for places that do not accept cards.
Tips for Saving Money
To get the best value when exchanging money, keep these tips in mind:
- Avoid exchanging large amounts at the airport
- Compare rates at different exchange shops
- Use ATMs for better rates when possible
- Keep small bills for transportation and street vendors
Planning ahead can help you avoid unnecessary fees and get better exchange rates.
Final Thoughts
Exchanging money in Korea is simple once you know your options.
Whether you use exchange counters, ATMs, or credit cards, having a mix of payment methods will make your trip more convenient and stress-free.