Money & Payment in Korea

Card vs cash

Korea is almost entirely card-based. Even small street vendors usually accept cards. Most international Visa, MasterCard, and Amex cards work, though some older terminals reject foreign cards — keep some cash as backup.

Mobile payments like Apple Pay (limited rollout), Samsung Pay (Korea only), and Naver Pay are common but require Korean phone setup.

ATMs

Look for ATMs with a “Global” or “International” sign — those accept foreign cards. Best options:

• Citibank ATMs (rare but reliable)
• KB Kookmin Bank ATMs (with “Global” label)
• 7-Eleven and CU convenience store ATMs (most accept foreign cards)

Withdrawal fees are usually 3,000–4,000 KRW plus your home bank’s fee.

Currency exchange

The best rates are usually at:

• Myeongdong moneychangers in Seoul (cluster near Exit 6 of Myeongdong Station)
• Itaewon foreign exchange shops
• KEB Hana Bank branches at the airport

Avoid hotel front desks — they’re convenient but expensive.

No tipping culture

There’s no tipping in Korea. Restaurants, taxis, hotels — service charges are included or simply not expected. Trying to tip can sometimes cause awkwardness.

Exception: some Western-style hotels may add a 10% service charge automatically to your bill.

Paying together

In restaurants, you almost always pay at the counter on the way out, not at the table. The server brings the bill to your table; you carry it to the cashier.

Splitting the bill (“dutch pay”) is increasingly common — ask “dutch pay-ro hae juseyo?” to split evenly.

Currency basics

The Korean Won (₩, KRW) comes in: - Coins: 10, 50, 100, 500 won - Bills: 1,000, 5,000, 10,000, 50,000 won

Rough USD conversion: 1,000 KRW ≈ $0.75. A subway ride is about 1,500 KRW, a coffee 4,500 KRW, a meal 8,000–15,000 KRW at casual restaurants.