💳 Money & Payments

For most everyday payments you can simply use a card. Cards are very convenient at:

• Hotels, department stores and shopping malls
• Convenience stores, cafés and chain restaurants
• Most ordinary restaurants and large supermarkets
• Attractions, taxis and pharmacies

Visa and Mastercard are the networks travelers can use most easily, and some places also take American Express and others.

One thing to keep in mind: a shop that takes cards is not always a shop that approves YOUR foreign card. Some small payment systems and unattended kiosks only process Korean-issued cards, and some foreign cards are declined because of how they are authenticated. That is why you should not rely on a card alone.

Open your card app or call your bank and check these points before you leave:

• International transactions: some issuers block overseas payments by default or ask you to turn them on.
• ATM withdrawals: a card that works abroad for payments may still be blocked for overseas ATM cash.
• PIN: make sure you remember the PIN you will use at ATMs.
• Foreign transaction fee: ask what your issuer charges for overseas payments and currency conversion.
• Cash withdrawal fee: your bank may charge its own fee for overseas ATM withdrawals.

One of the worst travel moments is a card that suddenly stops working. A fraud-detection system can block an overseas payment, or the terminal and the card may not agree on how to process it.

We recommend a primary card (for example a Visa or Mastercard you normally use) and a backup card from a different bank or a different card network, such as Visa + Mastercard. Keep the two cards in different places, not in the same wallet, in case one is lost.

Yes, a little. Korea is very card-friendly, but we do not recommend traveling with no cash at all. Cash is still useful or needed for:

• Some traditional markets and street stalls
• Very small restaurants and some local shops
• Transit card top-ups and some unattended machines
• When card payments are down, or your foreign card is not approved

If you plan to use a transit card, bring some cash: Tmoney tells foreign visitors that some top-up machines accept cash only.

You do not need to bring your whole budget in cash. Prepare a small emergency amount for when you arrive. As a practical suggestion, ₩50,000 to ₩100,000 covers a transit card top-up, small shops, snacks and surprise card problems.

This is not an official figure, just a sensible starting point for most travelers. If you need more, withdraw it from an ATM that accepts international cards.

A foreign card used at a Korean ATM can trigger more than one fee:

• The Korean ATM fee, charged by the ATM operator
• Your own bank’s fee for overseas withdrawals
• A currency conversion or foreign service fee from your card issuer

Always read the fee shown on the ATM screen before you accept it. If your card charges a fee per withdrawal, taking out a planned amount can cost less than many small withdrawals. Do not carry a large amount of cash, though: only withdraw what you need.

You can change foreign currency into won at:

• Airport exchange counters, such as the bank counters at Incheon Airport
• Banks in Korea
• Authorized currency exchange offices

The Korea Tourism Organization advises using banks or authorized exchange offices.

Yes. Incheon Airport has exchange counters and ATMs from several banks, including KB Kookmin, Woori and Hana. Some counters are open 24 hours, but locations and hours differ by terminal, so if you arrive late at night or early in the morning, check which counter is open.

A simple approach is to exchange just enough for your first needs at the airport, then compare rates and fees for anything more.

Stick to banks and licensed exchange offices. Incheon Airport also tells travelers not to use unregistered exchange services and to use the airport’s official banks and authorized exchange services.

Never exchange with someone on the street, even if they offer a good rate.

Bring your passport: depending on the place and the amount, you may be asked for ID. Before you exchange, check:

• The exchange rate
• The commission or service fee
• The amount you will actually receive
• Which currencies and notes they accept

The same currency can have a different rate and fee at different counters. Do not look only at “0 commission”: the number that matters is the final amount of won you receive.

Not always. The Korea Tourism Organization says some banks and exchange offices may not accept old foreign banknotes. Bring notes that are in good condition and recently issued.

Many visitors use a prepaid transit card such as Tmoney for subway and bus rides. A standard Tmoney card also works on some taxis and at some convenience stores.

Do not treat paying by card and topping up a transit card as the same thing: some top-up machines take only cash, so keep a little won with you. Products that combine transit and payment for foreign visitors, such as Tmoney Travel Card+, also exist.

Apple Pay, mobile wallets and contactless payments work in some places, but we do not recommend making your phone your only way to pay. Shops use different terminals and support different methods.

The safest combination in Korea is a physical card plus a mobile wallet. Always carry at least one physical card.