South Korea Travel Tips

South Korea uses the South Korean Won (KRW) as its official currency. While the country is highly modern and card-friendly, carrying some cash is still useful, especially in rural areas, traditional markets, and small local eateries where card payments may not be accepted. Smaller denominations are helpful, as some taxis, small vendors, and older establishments might not accept large bills or cards. In urban areas like Seoul and Busan, most hotels, restaurants, and shops accept credit and debit cards, but having cash on hand for small purchases or emergencies is always a good idea.

ATMs are widely available in cities, towns, and even smaller villages, often located in convenience stores, subway stations, and banks. International ATMs, which support foreign cards, can be found at major banks and convenience stores like 7-Eleven, CU, and GS25. Withdrawing cash from ATMs is typically one of the most convenient and cost-effective methods to access Korean Won, often offering better exchange rates than currency exchange counters. However, check with your home bank regarding potential international withdrawal or foreign transaction fees. To avoid unfavorable rates, always choose to withdraw in KRW rather than your home currency.

Credit and debit cards, particularly Visa and MasterCard, are widely accepted in South Korea. American Express is accepted at some major hotels and larger retailers but is less common in smaller establishments. Contactless payments are popular, with mobile payment apps and tap-to-pay cards commonly used for quick transactions. Some businesses may have a minimum spending requirement for card use, so keeping cash for small purchases is advisable. For larger transactions, you may be asked to show identification, such as a passport.

Currency exchange offices are available in airports, tourist areas, and city centers, but ATMs generally offer more favorable rates. If using an exchange office, compare rates and fees at different locations to get the best deal, and avoid exchanging money at hotels as they often provide less competitive rates.

Before your trip, inform your bank about your travel plans to prevent your cards from being flagged for suspicious activity. Bringing a backup card is recommended in case your primary one is lost or compromised. Keep your bank’s contact information handy and monitor your account for unauthorized transactions while traveling.

Traveler’s checks are rarely accepted in South Korea and are difficult to cash, making ATMs and credit or debit cards more reliable options for accessing money during your trip.