Korea is one of the most card-friendly countries in the world, so you'll need less cash than you think. But you'll still want some — for markets, street food, some small restaurants and topping up transit cards. Where you change it makes a real difference.
The ranking (usually)
| Where | Rate | Convenience | Notes |
|---|---|---|---|
| Myeongdong money changers | Often best | Good | Compare boards; cash only |
| WOWPASS kiosks | Good | Very good | Loads a prepaid card |
| Banks in the city | OK | Limited hours | Passport needed |
| ATMs (foreign card) | Depends on your bank | Very good | Watch for fees |
| Airport counters | Usually worst | Right there | Only for a small amount |
1. Skip the airport — mostly
Airport exchange counters sell convenience. Their rates are typically noticeably worse than in the city. Change just enough to get you through the first day — a taxi or train, a meal, a T-money top-up — and do the rest later.
2. Myeongdong's money changers
A cluster of licensed private exchange booths in Myeongdong is famous for offering some of the best cash rates in Seoul. They post live rates on boards out front, so you can compare three or four within a two-minute walk.
- Bring clean, undamaged notes in major currencies (USD, JPY, EUR, CNY and more)
- Larger denominations sometimes get a better rate
- You may be asked for your passport
- Count your won before you leave the counter
3. WOWPASS kiosks
Kiosks that convert your cash to won and load it onto a prepaid card, usually at a competitive rate. Great if you'd rather pay by card than carry notes. Full details — including the transit-balance catch — in our WOWPASS guide.
4. Banks
Major banks exchange money for non-customers with a passport. Rates are fine, but opening hours are limited (roughly business hours on weekdays) and there's more paperwork than at a booth.
5. ATMs
Look for ATMs marked "Global" or showing international card logos — at banks, subway stations and convenience stores. Before you confirm:
- Check the fee the ATM shows on screen
- Decline "dynamic currency conversion" if offered — choose to be charged in won, not your home currency. Converting at the ATM almost always costs more
- Your own bank may add its own foreign-withdrawal fee
Just use your card
Visa and Mastercard work at the vast majority of shops, restaurants, cafés, taxis and convenience stores. A no-foreign-fee travel card is honestly the easiest way to pay in Korea. Contactless is widely accepted.
How much cash do you need?
For a typical week in Seoul, a modest amount covers:
- Market food and street snacks (Gwangjang Market, Myeongdong street food)
- Topping up T-money or the Climate Card (often cash only)
- Small family-run restaurants that prefer cash
- Busker tips and small purchases
Everything else can go on a card.
Avoiding scams
Licensed booths and banks post their rates clearly and give you a receipt. Be wary of anyone approaching you on the street offering to change money — just say no and walk on.
Getting to know the won
Korean prices have lots of zeros, which throws people for the first day or two.
- Notes: ₩1,000 (blue), ₩5,000 (orange-red), ₩10,000 (green) and ₩50,000 (yellow)
- Coins: ₩10, ₩50, ₩100 and ₩500 — you'll mostly handle ₩100 and ₩500
- Quick maths: exchange rates move, so set your currency converter app to KRW and check it on day one rather than memorising a number
Multi-currency travel cards
Travel cards from services like Wise or Revolut let you hold won and pay at close to the market rate. They work well in Korea:
- Card terminals almost everywhere accept them, including contactless
- Global ATMs work, but check both the ATM's fee and your provider's free-withdrawal limit
- Top up in the app before you land, not at a terminal in a hurry
Carry a second card in a different bag. If one is blocked by your bank's fraud check, you won't be stuck.
Paying in taxis, markets and small shops
- Taxis: cards and T-money are accepted in almost all taxis. Cash is fine too
- Markets and street food: mostly cash, though more stalls take cards and QR payments every year
- Cafés and fast food: many use self-order kiosks that take cards only. A few kiosks struggle with foreign cards — if yours fails, try the counter
- Transit top-ups: usually cash only at machines, which is the main reason to keep notes on you
Before you fly home
- Spend your coins — most exchange desks abroad won't take them
- Change larger leftover notes back at the airport or a city bank, or keep them for your next trip
- If you used WOWPASS, withdraw the balance at a kiosk before security (see our WOWPASS guide)
Our honest take
Most travelers overthink currency exchange. In Seoul, you'll pay by card for most things, and the difference between good and average rates on a small amount of cash is usually small.
What we'd do:
- Bring a no-fee travel or credit card as your main way to pay
- Change a small amount at the airport for the first day
- Change the rest at a Myeongdong money changer or use a Global ATM
- Keep a few ₩10,000 notes for markets, transit top-ups and small shops
What we'd avoid:
- Changing everything at the airport
- Accepting "charge in your home currency" at ATMs or card terminals
- Changing money with anyone on the street
Keep it simple: one card, a little cash, and you're set.
Frequently asked questions
Should I change money before I leave home?
Usually no — rates at home tend to be worse than in Seoul. Bring your home currency in cash and change it here, or just use cards.
Do money changers take cards?
No, they exchange cash only.
Is it safe to carry cash in Seoul?
Seoul is very safe, but there's no reason to carry more than a day or two's worth.
Will shops accept my foreign card?
Almost always. A few small market stalls and older restaurants are cash-only.
