Money in Korea for Tourists (2026): Cash or Card, Which ATMs Take Foreign Cards, and Where to Exchange

Korea is one of the most card-friendly countries in the world. Koreans pay for almost everything by card or phone, from coffee to taxis, and many visitors spend a week in Seoul without ever breaking a ₩50,000 note. But “almost everything” is not everything. Market stalls, some small restaurants, and the transit card top-up machines still want cash, and a few things trip up foreign cards in particular.

This guide covers how much cash to carry, where foreign cards work and where they do not, which ATMs accept them, and where to change money for a decent rate. Information checked in October 2026; at the time of writing one US dollar was worth about ₩1,325.

Short version
• Use a Visa or Mastercard for most spending; Amex works less widely
• Carry about ₩50,000–₩100,000 in cash for markets, small shops and topping up a T-money card
• Withdraw cash at ATMs marked Global ATM (in convenience stores and banks)
• If you exchange cash, do it in the city (Myeongdong, Hongdae), not at the airport, or use a WOWPASS machine

Korean money basics

The currency is the won (₩, KRW). Notes come in ₩1,000, ₩5,000, ₩10,000 and ₩50,000; coins in ₩10, ₩50, ₩100 and ₩500. Prices include VAT, and there is no tipping, so the price on the menu or the tag is what you pay. A quick mental conversion: drop three zeros and multiply by about 0.75 to get US dollars (₩10,000 ≈ US$7.50).

Paying by card: what works and what does not

Works almost everywhere: department stores, Olive Young, convenience stores, chain cafes and restaurants, hotels, taxis, KTX tickets, and most sit-down restaurants. Visa and Mastercard are the safest; JCB and Amex are accepted in many but not all places, and UnionPay and Discover are patchier.

Where foreign cards can fail:

• Self-order kiosks in fast-food chains and small restaurants. Some reject foreign cards. If yours fails, go to the counter and pay a person.
• Online shops and booking sites that only accept Korean cards (some ticketing, delivery and reservation apps). Look for an English or international version.
• Transit card top-ups: at convenience stores and most station machines you top up a T-money card with cash. Since March 2026, the newer subway ticket machines in Seoul also take foreign cards for a fee of about 3.7%; our WOWPASS vs T-money guide explains the options.
• Tapping a foreign card on the bus or subway gate does not work yet. Tmoney has announced foreign contactless cards on Seoul buses for 2027.

Before you travel, tell your bank you are going to Korea and check your card's foreign transaction fee. A card with no foreign fees saves 2–3% on everything. When a card machine asks whether to pay in your home currency or in won, always choose won; the home-currency option (dynamic currency conversion) uses a worse exchange rate.

Mobile wallets

Apple Pay and Google Pay from abroad work only where the terminal accepts contactless foreign cards, which in Korea is still a minority of shops. Do not rely on your phone wallet alone; carry the physical card. If you use Alipay, WeChat Pay or certain Asian e-wallets, many shops in tourist areas accept them, usually by scanning a QR code at the counter.

How much cash do you need?

For most visitors, ₩50,000–₩100,000 at a time is plenty. You will use cash for:

• Topping up your T-money card (₩10,000–₩20,000 at a time).
• Street food and markets such as Gwangjang, Namdaemun, and Busan's Jagalchi.
• Small, family-run restaurants, some of which prefer cash or are card-only reluctantly.
• Temple donations, lockers, and small purchases in rural areas and on islands such as Udo.

Gwangjang Market in Seoul. Many food stalls here take cards now, but cash is still faster and always accepted. Photo: Bgag, CC0, via Wikimedia Commons

ATMs: look for “Global ATM”

Not every Korean ATM accepts foreign cards. The ones that do are usually marked Global ATM or show the Visa, Plus, Mastercard and Cirrus logos, and offer an English menu. You find them:

• In convenience stores (7-Eleven, GS25, CU and others), often open 24 hours.
• At the branches of big banks (KB Kookmin, Shinhan, Woori, Hana and others), in subway stations and at the airports.

Choose “Foreign card” or the English button, then “Withdrawal”. The ATM operator charges a fixed fee per withdrawal (usually a few thousand won, shown on screen before you confirm), and your own bank may add its own fee, so take out larger amounts less often. Withdrawal limits per transaction vary by machine. Some bank ATMs inside branches close at night or on weekends.

An ATM in Seoul. Look for the Global ATM sign or international card logos, and pick English on the first screen. Photo: Lofor, CC BY-SA 4.0, via Wikimedia Commons

Exchanging money

• At the airport: convenient but the worst rates. Change only what you need for the first day, or withdraw from an ATM instead.
• Licensed money changers in Myeongdong (and some in Hongdae, Itaewon and Dongdaemun) usually give the best rates for cash, especially for US dollars, euros, yen and yuan. Compare the boards on two or three shops; the difference can be noticeable on large amounts. Bring clean, undamaged notes.
• Banks exchange money at mid-range rates during opening hours (usually weekdays 9 a.m.–4 p.m.) and ask for your passport.
• WOWPASS machines exchange cash in many currencies directly onto a prepaid card that also works as a transit card. See our WOWPASS comparison for fees.

At the end of the trip, spend your coins (they are hard to change back abroad) and either keep a few notes for next time or change them back at the airport.

Safety and scams

Korea is very safe for carrying cash, and card skimming is rare. The usual sense applies: cover the keypad, use ATMs in busy places, and keep your card in sight. If you lose your card, Korean police boxes and your hotel can help you call your bank.

Quick answers

Can I pay in US dollars? Almost never, except in some duty-free shops. Use won.

Do I need cash for taxis? No. Taxis take cards, including most foreign ones, and T-money.

Is it worth bringing won from home? Only a small amount for your first day, if your home bank offers a good rate.

Does the tax refund work with cash purchases? Yes. See our Olive Young guide for how the instant refund works at the till.

Summary

Pay by Visa or Mastercard for most things, always choose to be charged in won, and carry ₩50,000–₩100,000 in cash for markets and transit top-ups. Get cash from Global ATMs in convenience stores, and if you exchange notes, do it at a licensed changer in the city rather than at the airport.

Exchange rate about ₩1,325 per US dollar, October 27, 2026. Foreign card payment at Seoul subway ticket machines from March 17, 2026 (about 3.7% fee): Seoul Metropolitan Government. ATM fees and limits are set by each machine operator and your bank and are shown before you confirm.