When visiting Korea, one of the first things travelers wonder is — “Should I use cash or card?”
The short answer: You’ll need both.
Here’s a simple guide to exchanging money, using credit cards, and knowing when cash comes in handy.
1. Best Places to Exchange Money in Seoul
The most popular areas for money exchange are Myeongdong, Hongdae, and Incheon Airport.
- Myeongdong: The best rates in Seoul. Dozens of exchange booths line the streets near Myeongdong Cathedral.
💡 Tip: Compare at least two booths before exchanging large amounts — differences can reach up to 2–3%. - Hongdae (Hongik Univ. Area): Convenient if you’re staying near the airport train line. Rates are fair and the area is lively.
- Incheon International Airport: Most convenient for arrival, but rates are slightly lower than Myeongdong.
- Banks: Major banks like KEB Hana Bank, Woori Bank, and Shinhan Bank offer currency exchange during business hours.
💡 Traveler Tip: Bring your passport — it’s required for all currency exchanges in Korea.
2. Using Credit and Debit Cards in Korea
Korea is a card-friendly country.
Most hotels, restaurants, department stores, and even taxis accept Visa, Mastercard, and AMEX.
However, some small markets, cafés, or street vendors still prefer cash.
💡 Tip: Always carry a small amount of Korean Won (₩) — around 50,000–100,000₩ (USD $40–$80) — for snacks, transportation, or emergencies.
Contactless payments like Apple Pay, Samsung Pay, and Kakao Pay are becoming more common,
especially in Seoul and major tourist areas.
3. ATMs and Cash Withdrawals
ATMs are everywhere — at banks, convenience stores (CU, GS25, 7-Eleven), and subway stations.
Look for machines labeled “Global ATM” or “Foreign Card Accepted.”
💡 Fees: Most ATMs charge a small withdrawal fee (3,000–5,000₩) per transaction.
Use larger withdrawals to reduce total fees.
4. How Much Cash Do You Really Need?
In most cases, you’ll only need cash for:
- Street food vendors 🍢
- Small local shops 🛍️
- Traditional markets (like Gwangjang Market)
- Rural areas or small towns
Everywhere else — your card works perfectly fine.
5. Exchange Rate Apps & Smart Tips
Download apps like XE Currency, Naver Exchange Rate, or Google Finance to check live rates.
Avoid exchanging at hotels or tourist desks — rates are often 5–10% worse.
💡 Bonus Tip: If you use a multi-currency card like Wise or Revolut,
you can pay directly in KRW at real exchange rates, with minimal fees.
🌟 Final Advice from a Local
In Korea, carrying a bit of cash is smart, but your credit card will take you almost everywhere.
Exchange a small amount at the airport, then find a good rate in Myeongdong or Hongdae later.
Stay connected, spend wisely, and enjoy shopping in Seoul! 🇰🇷✨
