| 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’.
are in denominations of W10, 50, 100 and 500.
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
Credit & debit
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.
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
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.
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.
The following figures are included as a guide to the movements of
the Euro against Sterling and
the US Dollar: