1. The currency
Korea uses the won (₩, code KRW). Notes come in ₩1,000, ₩5,000, ₩10,000, and ₩50,000; coins in ₩10, ₩50, ₩100, and ₩500. As a rough mental model many travelers drop three zeros to sanity-check prices, but exchange rates move, so check a live rate before you go.
2. Cards vs cash
Korea is one of the most card- and contactless-friendly countries in the world. You can tap or swipe at cafés, restaurants, convenience stores, taxis, and most shops, and mobile payments are ubiquitous. Keep some cash on hand for traditional markets (like Gwangjang or Jagalchi), small family-run eateries, temples, and the occasional street stall. A T-money transit card can also be topped up with cash and used for small purchases.
3. ATMs & exchanging money
To withdraw won with a foreign card, use ATMs labeled "Global" or "Foreign Card" — they're widespread at convenience stores, banks, and airports, and let you switch to English. Not every machine accepts overseas cards, so stick to the labeled ones. For cash exchange, licensed money changers in areas like Myeongdong (Seoul) often beat airport counters on rate; compare before committing.
4. Tipping & tax refunds
Tipping is not part of Korean culture — you don't tip in restaurants, taxis, or hotels, and the price you see is the price you pay. Tourists can benefit from Tax-Free shopping: on qualifying purchases above a minimum, keep your receipts and claim the VAT refund at airport kiosks before departure, or use immediate in-store tax deduction where offered.
Quick facts
Frequently asked questions
Can I use credit cards everywhere in Korea?
Card acceptance is excellent — cafés, restaurants, shops, taxis, and even many street vendors take cards, and contactless is common. Carry some cash mainly for traditional markets, small local eateries, and temples.
Where do I withdraw cash with a foreign card?
Look for ATMs labeled "Global" or "Foreign Card" — they are common at convenience stores (GS25, CU, 7-Eleven), banks, and airports. Not every ATM accepts foreign cards, so the labeled ones are the reliable choice.
Do I tip in Korea?
No. Tipping is not customary and is not expected in restaurants, taxis, or hotels. Prices are as marked, and service is included.
Can tourists get a tax refund?
Yes. Many stores offer Tax-Free shopping on purchases above a minimum amount. Keep the receipts and claim your VAT refund at the airport kiosks before departure, or look for immediate in-store tax-free deductions.
Exchange rates and tax-refund thresholds change; treat figures here as general guidance and check current rates before you travel.