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Last updated : Nov 2009
Korea South Currency
Korea South Currency and Bank information - TravelPuppy.com
Won (W).

Notes are in denominations of W1,000, 5,000 and 10,000. W1,000 is called Chon Won in Korean which means ‘one thousand’.

Coins are in denominations of W10, 50, 100 and 500.

Currency exchange

Travellers cheques and Foreign banknotes can be exchanged at foreign exchange banks and any other authorised money changers. All main cities have ATM's available; however, all instructions are in Korean.

Credit & debit cards

The main hotels, restaurants and shops in the larger cities widely accept American Express, Diners Club, MasterCard and Visa. For details of merchant acceptability, check with your credit or debit card company.

T2K Card

Tour2Korea.com and the Shinhan Bank have joined together in order to issue the T2K Cards, which are only available to foreign tourists or residents. This card provides discounts on accommodation, currency charges and entertainment performances. The card can be received at the currency exchange booths of Shinhan Bank at Incheon International Airport.

Travellers cheques

Accepted, but may be difficult to change in the smaller towns. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in United States Dollars.

Currency restrictions

The import and export of local currency is allowed up to W8,000,000. The import of foreign currency is unlimited, provided amounts greater than US$10,000 (including travellers cheques) are declared on arrival and the Export of foreign currency is limited to the amount declared on arrival.

Exchange rate indicators

The following figures are included as a guide to the movements of the Euro against Sterling and the US Dollar:
 
Date Oct'07
£1.00=
1,878.02
$1.00=
916.440
 
Banking hours

Monday-Friday 0930-1630 hrs, Saturday 0930-1330 hrs.
Useful travel links
AMEX Travellers Cheques information on Amex travellers cheques
Oanda International currency and foreign exchange services
Travellers Cheques Visa information on Visa travellers cheques
Universal Currency Converter online foreign exchange and currency
VISA ATM Locator location of any ATM that accepts VISA cards