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Foreign Currency

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Currency

Korea`s official monetary unit is the won.

The Korean currency consists of a ten thousand, five thousand, and one thousand won note, and five hundred, one hundred, fifty and ten won coin.

Currency Exchange Rate

Recently, a dollar exchanges for about 1,200 won. Exchange rates may change at any time according to the market conditions.

Exchanging Money

When you need to exchange your foreign currency into Korean won, visit a bank, exchange service center, or an authorized exchange.

Business hours

  • Bank : 9:30 am - 4:30 pm except Saturday, Sunday and Holidays
  • Exchange service center : 9:30 am -10 pm, everyday
  • Authorized exchange: 24 hours in hotel, and 9:00 am - 5:00 pm at other places.
  • Don`t forget to take your receipt.
Traveler's Checks

Traveler's checks are economical because they will receive higher exchange rates and can be purchased at a cheaper rate. Travelers should not have to worry about damages if checks are lost or stolen. Traveler's are used like cash at hotels, department stores, restaurants and shops, but it is better to exchange them for cash for more comfort. Visa, American Express, and Thomas Cook are used in Korea, and these checks can be exchanged into cash at banks or exchange booths.

Credit Card

Visa, American Express, Diners Club, Master Card and others are used at hotels, department stores, large restaurants, and stores,

Advice
  • Plan your travel and exchange money carefully.
  • After exchanging your money, check the money and exchange rate with a calculator.
  • When you exchange your traveler's checks, you need to sign your name in the presence of a bank teller. Don't transfer your checks to another person.