Seoul Sky Guide – Visiting Korea’s Tallest Building

 KOREA TRAVEL BASICS · PART 3

This article is written in English. A Korean translation is available at the end of the post.

Information checked: September 11, 2026

Cash or Card in Korea photo by koreadaybook

Cash or Card in Korea? Money, ATMs and Currency Exchange Guide

If this is your first trip to South Korea, you may be wondering how much cash you should bring.

Will your foreign credit card work?

Should you exchange money before arriving?

Can you withdraw Korean won from an ATM?

And do you still need cash in a country where almost everyone seems to pay by card?

The short answer is simple.

Korea is very card-friendly, but you should still carry some Korean won.

Most hotels, department stores, restaurants, cafés, convenience stores and regular shops accept credit or debit cards. Visa, Mastercard, American Express and other major international cards can be used at many businesses.

However, cash remains useful for transportation-card recharging, some traditional markets, smaller businesses and emergencies.

You do not need a wallet full of Korean won.

You just need enough cash to give yourself flexibility.

Quick Answer

For most travelers visiting Korea:

1. Bring at least one Visa or Mastercard that works internationally.

2. Bring a second card and keep it separately as a backup.

3. Carry about KRW 30,000–50,000 in cash when you first arrive.

4. Do not exchange your entire travel budget at Incheon Airport.

5. Use banks, authorized exchange counters or reputable ATMs.

6. If a terminal asks whether to charge your card in KRW or your home currency, KRW is usually the better choice.

7. Keep some cash available for transportation-card recharging.

8. Check your overseas card and ATM fees before leaving home.

That setup is enough for most visitors.

Korean Currency Basics

South Korea uses the Korean won.

Currency code:

KRW

Symbol:

₩

The most common banknotes are:

• ₩1,000

• ₩5,000

• ₩10,000

• ₩50,000

Common coins include:

• ₩10

• ₩50

• ₩100

• ₩500

Korean Won Banknotes photo by koreadaybook

If you are unfamiliar with Korean money, the ₩10,000 and ₩50,000 notes are the ones you will probably use most often.

One small tip:

Do not exchange everything into ₩50,000 bills.

A ₩50,000 note is completely normal in Korea, but smaller notes are more convenient when buying inexpensive food or paying at a traditional market.

Can You Use Credit Cards in Korea?

Yes.

For most tourists, your card will probably be your main payment method.

Cards are widely accepted at:

• Hotels

• Restaurants

• Cafés

• Convenience stores

• Department stores

• Shopping malls

• Supermarkets

• Pharmacies

• Tourist attractions

• Beauty stores

• Larger traditional restaurants

The Korea Tourism Organization states that credit cards are widely accepted by major hotels, department stores and general shops.

It is also completely normal in Korea to use a card for a very small purchase.

A bottle of water?

Card.

One coffee?

Card.

A snack from a convenience store?

Card.

You generally do not need to feel awkward about paying a small amount by card.

Which Cards Work Best?

For international visitors, I would prioritize:

1. Visa

2. Mastercard

Then:

3. American Express

Other international networks may also work, but acceptance can vary by business.

My recommendation is to carry cards from two different networks if possible.

For example:

Primary card:
Visa

Backup card:
Mastercard

Keep them in different places.

If your wallet disappears, losing every card at the same time can turn a small travel problem into a serious one.

Do You Still Need Cash?

Yes.

But probably less than you expect.

Cash can still be useful for:

• Transportation-card recharging

• Some traditional-market stalls

• Some street-food vendors

• Very small independent stores

• Older vending or payment machines

• Emergency transportation

• Situations where your foreign card is unexpectedly declined

This is why I would not recommend traveling around Seoul with zero cash.

On the other hand, carrying KRW 1,000,000 in your wallet is unnecessary for most tourists.

For an ordinary day in Seoul, KRW 20,000–50,000 as backup cash is usually comfortable.

How Much Cash Should You Get at Incheon Airport?

My recommendation:

Enough for your first day.

That may include:

• Transportation-card purchase

• Transportation-card recharge

• Food or coffee

• Small emergency expenses

• Airport transportation if necessary

You do not need to exchange your entire vacation budget immediately after collecting your suitcase.

Banks and official currency-exchange services are available in Korea, and the Korea Tourism Organization recommends banks or authorized exchange service centers for currency exchange.

Incheon Airport also has banks, exchange counters and ATMs.

The airport is convenient.

But convenience and the best possible exchange rate are not always the same thing.

For many travelers, changing a relatively small amount at the airport and dealing with the rest later is a reasonable compromise.

Should You Exchange Money Before Coming to Korea?

You can, but you do not have to.

A simple strategy is:

Before departure

Bring:

• Your international cards

• A backup card

• Some emergency cash in a major currency if you want additional security

At Incheon Airport

Get enough Korean won for the first day.

After reaching Seoul

Exchange more only if you actually need it.

This also helps prevent another common travel problem:

Going home with a large amount of unused foreign currency.

Where Should You Exchange Money in Seoul?

The safest options are:

• Banks

• Authorized currency-exchange businesses

• Established exchange counters in tourist areas

Banks generally operate around 09:00–16:00 on weekdays, although hours can vary by branch.

Tourist areas such as Myeongdong also have many currency-exchange businesses.

When comparing exchange counters, do not look only at signs saying:

“BEST RATE”

or

“NO COMMISSION.”

Ask one simple question:

How many Korean won will I actually receive?

The final amount matters more than the advertising.

Using ATMs in Korea

ATMs are easy to find in Korea.

You will see them at:

• Airports

• Banks

• Convenience stores

• Shopping areas

• Transportation hubs

Incheon Airport has numerous bank ATMs and 24-hour public ATMs.

However, there is one important point:

Not every Korean ATM accepts every foreign-issued card.

Look for international network logos such as:

• Visa

• PLUS

• Mastercard

• Cirrus

• UnionPay

The ATM may also display:

Global ATM

International Card

or

Foreign Card

Using ATMs in Korea photo by koreadaybook

If one machine rejects your card, do not immediately assume your card has been blocked.

Try another major bank ATM.

ATM Fees

An overseas ATM withdrawal can involve several different fees.

You may pay:

• A fee charged by the Korean ATM operator

• A foreign ATM fee charged by your home bank

• A foreign-exchange fee

• A currency-conversion fee

Your bank may also have a daily international withdrawal limit.

Before flying, check:

• Overseas ATM availability

• Daily withdrawal limit

• Foreign transaction fee

• ATM withdrawal fee

• PIN requirements

If possible, avoid withdrawing tiny amounts repeatedly.

Multiple small withdrawals can mean multiple ATM fees.

KRW or Your Home Currency?

This is important.

Sometimes a card terminal or ATM may ask:

Would you like to pay in:

KRW

or

USD / EUR / GBP / your home currency?

The second option is called Dynamic Currency Conversion, or DCC.

It can look convenient because you immediately see a familiar currency.

But the conversion may include an additional markup.

Visa explains that transactions converted through DCC may include additional fees or exchange-rate markup, while paying in the local currency allows your normal card conversion process to handle the transaction.

So my default choice in Korea is:

Pay in KRW.

For example:

Choose:

KRW 52,000

rather than a converted amount displayed in dollars.

Of course, check your own card’s foreign-exchange fees before traveling.

What If Your Foreign Card Is Declined?

Do not panic.

A card can fail for many reasons.

Try:

1. Insert the card instead of tapping it.

2. Try another card.

3. Check whether overseas payments are enabled.

4. Check your banking app.

5. Pay with cash if necessary.

6. Contact your card issuer if the problem continues.

This is exactly why I recommend carrying:

one primary card + one backup card + some cash.

Contactless Payments and Mobile Wallets

Contactless card payments are increasingly common in Korea.

However, acceptance can differ depending on:

• Your card

• Your mobile wallet

• The payment terminal

• The merchant

Do not rely on your smartphone as your only payment method.

A physical card is still a good travel backup.

A Special Reason to Keep Cash: Transportation Cards

Even if you plan to pay for almost everything else by credit card, keep some Korean won available for transportation.

T-money is one of Korea’s most widely used prepaid transportation cards.

It can be purchased at major convenience stores and Seoul subway locations, and the standard card usually costs around KRW 3,000–5,000.

I will explain how to buy, recharge and use it in:

Korea Travel Basics Part 4: T-money Card Korea – How to Buy It and Use Seoul Public Transport

Carrying More Than USD 10,000 into Korea

Most tourists do not need to worry about this.

But if you enter Korea carrying foreign currency, Korean won or checks with a combined value over USD 10,000, you must declare it to Korean Customs.

If you are traveling with a large amount of money for business or another special purpose, check the official Korea Customs Service rules before departure.

How Much Cash Should You Carry Each Day?

There is no perfect amount.

But for a typical tourist in Seoul:

First day

KRW 30,000–50,000 is a reasonable starting amount.

Normal sightseeing day

KRW 20,000–50,000 as backup cash.

Traditional market day

Carry a little more in ₩1,000, ₩5,000 and ₩10,000 notes.

Traveling outside major cities

Consider keeping additional emergency cash.

Again, you do not need to carry your entire travel budget.

Money Safety Tips

• Keep your backup card separately.

• Do not carry all of your cash every day.

• Check the amount displayed before paying.

• Cover the keypad when entering your PIN.

• Use reputable bank or airport ATMs.

• Turn on card transaction notifications.

• Save your card issuer’s international telephone number.

• Keep major cash amounts in your hotel safe.

• Check your bank app regularly.

• Never give another person your card PIN.

A Word from a Local

Korea can feel almost completely cashless.

I personally pay by card for nearly everything.

Coffee?

Card.

Lunch?

Card.

Convenience store?

Card.

Shopping?

Card.

But I still keep a little cash in my wallet.

Why?

Because the one time you need to recharge a transportation card or buy something from a small market stall is usually the exact moment you realize you have no cash.

You do not have to choose between “cash traveler” and “card traveler.”

Use cards for convenience.

Keep cash for flexibility.

That combination works very well in Korea.

Before You Go

Before flying to Korea, check:

• Whether overseas transactions are enabled on your cards

• Foreign transaction fees

• ATM withdrawal fees

• Daily withdrawal limits

• Your card PIN

• Your backup payment method

• The approximate KRW exchange rate

Do not spend half a day chasing the absolute best exchange rate.

Saving a few thousand won is not much of a victory if you spend your first afternoon in Seoul walking between exchange counters.

Your time in Korea is valuable too.

Final Checklist

Before leaving the airport:

• I have at least one working international card.

• I have a backup card stored separately.

• I have some Korean won.

• I know my card PIN.

• I have overseas transactions enabled.

• I understand roughly how much KRW is worth.

• I know to check for DCC when paying.

• I have enough cash for transportation-card recharging.

• I know where to find a bank or ATM if necessary.

Credit Card Payments in Korea photo by koreadaybook

Explore the Korea Travel Basics Series

Part 1: Entering Korea in 2026 – Visa, K-ETA and e-Arrival Card Guide

Part 2: Incheon Airport to Seoul – Immigration, Baggage, Customs and Transport Guide

Part 3: Cash or Card in Korea? Money, ATMs and Currency Exchange Guide

You are here.

Part 4: T-money Card Korea – How to Buy It and Use Seoul Public Transport

Part 5: Korea eSIM and SIM Card Guide – Wi-Fi and Essential Travel Apps

한국어 번역

한국에서는 현금과 카드 중 무엇을 써야 할까? 환전·ATM·결제 가이드

한국에 처음 여행을 온다면 돈을 얼마나 환전해야 하는지 고민할 수 있습니다.

해외카드가 잘 되는지,

공항에서 환전을 많이 해야 하는지,

한국 ATM에서 원화를 찾을 수 있는지,

현금 없는 여행도 가능한지 궁금할 수 있습니다.

결론부터 말하면 간단합니다.

한국은 카드 사용이 매우 편리하지만 소액의 현금은 준비하는 것이 좋습니다.

호텔, 백화점, 음식점, 카페, 편의점과 대부분의 일반 상점에서는 카드 결제가 가능합니다.

핵심 요약

1. 해외 결제가 가능한 Visa 또는 Mastercard를 준비하세요.

2. 예비 카드 한 장을 따로 보관하세요.

3. 첫날에는 약 3만~5만원 정도의 현금을 준비하면 편합니다.

4. 공항에서 여행경비 전체를 환전할 필요는 없습니다.

5. 은행이나 공식 환전소를 이용하세요.

6. 카드 단말기에서 KRW와 자국 통화를 선택하라고 하면 일반적으로 KRW를 선택하는 것이 좋습니다.

7. 티머니 충전 등에 사용할 현금을 조금 남겨두세요.

한국에서는 카드를 얼마나 많이 사용할까?

한국에서는 아주 작은 금액도 카드로 결제하는 것이 일반적입니다.

커피 한 잔,

편의점 생수 한 병,

간단한 식사도 카드로 결제할 수 있습니다.

따라서 대부분의 여행경비를 카드로 사용해도 큰 불편이 없습니다.

현금이 필요한 경우

다음과 같은 경우에는 현금이 유용합니다.

• 티머니 충전

• 일부 전통시장

• 일부 길거리 음식점

• 작은 개인 상점

• 해외카드가 결제되지 않는 경우

• 비상 상황

따라서 현금을 많이 들고 다닐 필요는 없지만 아예 가지고 다니지 않는 것도 추천하지 않습니다.

한국 원화

한국 통화의 국제코드는 KRW이며 기호는 ₩입니다.

대표적인 지폐는:

• 1,000원

• 5,000원

• 10,000원

• 50,000원

입니다.

작은 물건을 현금으로 구입한다면 5만원권보다 1만원권과 5천원권이 편합니다.

공항에서는 얼마나 환전해야 할까?

저라면 첫날 필요한 정도만 준비합니다.

예를 들면:

• 교통카드 구입

• 교통카드 충전

• 간단한 식사

• 커피

• 비상교통비

정도입니다.

공항 환전소는 편리하지만 항상 가장 좋은 환율을 제공한다는 의미는 아닙니다.

서울에 도착한 뒤 필요한 만큼 추가로 환전해도 됩니다.

한국 ATM 이용하기

해외카드로 현금을 찾을 때는 ATM에서 다음 로고를 확인하세요.

• Visa

• PLUS

• Mastercard

• Cirrus

• UnionPay

또는 화면에:

Global ATM

Foreign Card

International Card

같은 메뉴가 있을 수 있습니다.

한 ATM에서 카드가 거절됐다고 해서 바로 카드에 문제가 생긴 것은 아닙니다.

다른 은행 ATM을 이용해보세요.

ATM 수수료

ATM 인출에는 다음 비용이 발생할 수 있습니다.

• 한국 ATM 수수료

• 본국 은행 해외 ATM 수수료

• 환전 수수료

• 해외결제 수수료

출국 전 카드사 수수료와 하루 인출한도를 확인하는 것이 좋습니다.

KRW와 자국 통화 중 무엇을 선택할까?

결제할 때 원화와 달러 등 자신의 통화 중 선택하도록 표시되는 경우가 있습니다.

이것을 DCC라고 합니다.

자국 통화로 결제하면 금액을 바로 이해할 수 있어 편해 보이지만 추가 환율 마진이 적용될 수 있습니다.

그래서 일반적으로 저는 KRW를 선택합니다.

해외카드가 안 된다면

1. 탭 대신 카드를 삽입해 봅니다.

2. 다른 카드를 사용합니다.

3. 해외결제가 켜져 있는지 확인합니다.

4. 은행 앱을 확인합니다.

5. 필요하면 현금으로 결제합니다.

그래서 주사용 카드와 예비 카드, 그리고 소액 현금을 함께 가지고 다니는 것이 가장 안전합니다.

현금이 필요한 중요한 이유: 티머니

티머니는 한국에서 널리 사용되는 충전식 교통카드입니다.

편의점과 지하철역 등에서 구입할 수 있습니다.

구입과 충전, 지하철·버스 이용방법은 Korea Travel Basics Part 4에서 자세히 설명합니다.

미화 1만 달러 이상 가지고 입국한다면

외화, 원화 또는 수표 등을 합쳐 미화 1만 달러를 초과하는 금액을 한국으로 가지고 들어오는 경우 세관 신고가 필요합니다.

대부분의 관광객에게는 해당되지 않지만 큰 금액을 가지고 여행한다면 출국 전에 확인하세요.

현지인의 한마디

한국에서는 저도 대부분 카드로 결제합니다.

커피도 카드,

밥도 카드,

편의점도 카드,

쇼핑도 카드입니다.

하지만 현금도 조금 가지고 다닙니다.

티머니를 충전하거나 시장에서 현금이 필요한 순간이 있기 때문입니다.

카드는 편리함을 위해 사용하고,

현금은 예외 상황을 위해 준비하세요.

그 정도면 충분합니다.

최종 체크리스트

• 해외결제 가능한 카드가 있습니다.

• 예비 카드를 따로 보관했습니다.

• 소액의 한국 원화를 가지고 있습니다.

• 카드 비밀번호를 알고 있습니다.

• 해외결제가 활성화되어 있습니다.

• ATM 수수료를 확인했습니다.

• 결제 시 KRW인지 확인합니다.

• 티머니 충전용 현금이 있습니다.

돈 준비는 여기까지면 충분합니다.

이제 한국을 즐기세요.