
Confused about Korea money and how to pay for things? You're not alone. Korea has a unique payment culture—credit cards work almost everywhere, but some places are cash-only. Tipping? Never expected. This guide covers everything: currency exchange, cards vs cash, ATM tips, tourist prepaid cards like WOWPASS, and Korea's no-tipping culture. Last updated: April 2026
Here's a quick comparison of your payment options in Korea. According to the Bank of Korea, 93.6% of transactions in Korea are cashless—one of the highest rates in the world.
| Method | Acceptance | Best For | Watch Out |
|---|---|---|---|
| Credit Card | 95% of stores | Most purchases | 1-3% foreign transaction fee |
| Cash (Won) | 100% | Markets, small shops | Carry for emergencies |
| WOWPASS | Same as cards | Tourists, exchange + pay | ₩5,000 issue fee |
| Apple/Google Pay | 70% | Quick payments | Not all terminals support |
The Korean currency is the Won (₩), written as KRW internationally. As of April 2026, $1 USD ≈ 1,450 KRW. This is actually a great time for tourists—compared to 2023, you get about 20% more won for your dollar.

Where you exchange matters. Airport rates are the worst—you'll lose about 4-5% compared to city exchange shops. Here's the hierarchy from best to worst rates:

Pro Tip
Exchange only $50-100 at the airport for T-money and taxi. Save the rest for Myeongdong or use WOWPASS kiosks.
Korea is extremely card-friendly. Visa and Mastercard are accepted almost everywhere—convenience stores, restaurants, subway ticket machines, even street food vendors. American Express has limited acceptance.

However, there are exceptions. Traditional markets (like Namdaemun, Gwangjang) often prefer cash. Some small family restaurants and older businesses are cash-only. Always carry ₩50,000-100,000 as backup.
Not all Korean ATMs accept foreign cards. Look for machines labeled "Global ATM" or "Foreign Card"—usually found at banks, airports, and some convenience stores.
| ATM Type | Foreign Card | Fee | Limit/Transaction |
|---|---|---|---|
| Woori Bank Global | Yes | ₩2,000-3,000 | ₩1,000,000 |
| KB Bank Global | Yes | ₩3,000-4,000 | ₩1,000,000 |
| Convenience Store | Sometimes | ₩3,600 | ₩300,000 |
| Citibank | Yes | ₩0 | ₩1,000,000 |
Avoid DCC
When the ATM asks "Charge in your home currency?" — always select NO. This is Dynamic Currency Conversion (DCC) and adds a hidden 3-7% markup.
Tourist prepaid cards solve two problems: currency exchange and payments. Both work as payment cards AND transit cards for subway/bus. Here's how they compare:
| Feature | WOWPASS | NAMANE |
|---|---|---|
| Issue Fee | ₩5,000 | ₩7,000 |
| Currency Exchange | Yes, at kiosks | No (need won first) |
| Card Design | Standard | Fully customizable (your photo) |
| Best For | Most tourists | K-Pop fans, souvenirs |
| Top-up | Kiosks only | App + credit card |
Our recommendation: Get WOWPASS if you want the easiest all-in-one solution. Get NAMANE if you want a custom card with your favorite K-Pop idol.
Korea is a no-tipping country. Restaurants, taxis, hotels, hair salons—nobody expects a tip. This isn't just custom; it's built into Korean law. The Food Sanitation Act requires all prices to include service charges.

Show Gratitude Instead
Want to thank someone? Say "잘 먹었습니다" (jal meo-geo-sseum-ni-da) after a meal—it means "I ate well" and is a sign of deep respect.
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