Koreas 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 coins.
Currency Exchange Rate
Recently, Exchange rate against dollar is about 1,400 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 location. Business hours
- Banks : 9:30 am - 4:30 pm except Saturday, Sunday and Holidays
- Exchange service centers : 9:30 am - 10 pm, every_day
- Authorized exchange: 24 hours in hotels, and 9:00 am - 5:00 pm at other locations 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 do not need to worry about damages if checks are lost or stolen.
Traveler's checks are used like cash at hotels, department stores, restaurants and shops, but it is better to exchange them for cash for the sake of ease. Visa, American Express, and Thomas Cook are accepted 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 accepted at hotels, department stores, large restaurants, and stores
Advice
1. Plan your travel, and exchange money carefully.
2. After exchanging your money, check the money and exchange rate with a calculator.
3. When you exchange your traveler's checks, you need to sign your name in the presence of a bank teller. Do not your checks to another person.
