Cash or Card in Korea? Won, Money Exchange, and Paying as a Visitor

Most places in Korea accept credit cards, even for small purchases, but a few situations still call for cash, and transit cards have their own rules. This is based on the Korea Tourism Organization (KTO) pages (updated September 2026) and a Seoul Metropolitan Government announcement from September 2025.

1. The currency: won

Korea's currency is the won (₩, written 원). KTO lists four bills and four coins in everyday use:

Knowing the readings helps when a shopkeeper says a price out loud. Man (만) means ten thousand, so "manwon" is ₩10,000 and "omanwon" is ₩50,000. Prices are counted in units of 10,000 rather than 1,000, which is the main source of mental-math slips. ₩35,000 is "samman-ocheon-won": three ten-thousands and five thousands.

2. How far a card gets you

KTO says most businesses in Korea accept credit cards, including major hotels, department stores, and general shops, and that Visa, Mastercard, American Express, and other cards can be used. KTO's tourist guide goes further: except for a few small family-run businesses, most places accept credit cards, even for small purchases.

KTO still adds a caution: check that a store accepts cards before buying, because some may not. In practice, that means carrying a small amount of cash for:

• Small family-run shops and some market stalls
• Situations where a card terminal is down
• Loading cash onto a transit card, if your card is not accepted at the machine (see below)

3. Where and when to exchange money

KTO's advice is to exchange foreign currency at a bank or an authorized exchange service center.

• Bank hours: generally 9:00 to 16:00 on weekdays, varying by bank and region.
• Korea Post Bank: 9:00 to 16:30.
• Old currency: some locations may not accept older banknotes, so check first if your foreign cash is an older series.

Because banks generally close at 16:00, plan city exchanges for a weekday morning or early afternoon.

4. Exchanging at the airport

Airport exchange counters keep longer hours. KTO says money exchangers at airports typically operate from 6:00 to 22:00, and some locations run 24 hours. Full bank branches at Incheon International Airport keep shorter hours. KTO lists branches of KB Kookmin, Hana, and Woori in both passenger terminals, each open 9:00 to 16:00 on weekdays and closed weekends and public holidays.

So if you land on a Saturday evening, the exchange counters are your option, not the bank branches.

5. ATMs late at night

KTO notes that many convenience stores, restaurants, malls, and ATMs in Korea are open around the clock, and that you can withdraw cash even late at night. Whether a specific machine accepts a foreign card varies, so it is worth checking with your card issuer about overseas withdrawals before you travel.

6. Paying for transit with a foreign card

Transit is where cash has mattered most for visitors, because transportation cards have traditionally been bought and reloaded with cash. The Seoul Metropolitan Government says it is changing this in stages:

• New subway kiosks: Seoul said it would let passengers buy and reload transit cards with overseas credit cards at new ticket kiosks by the end of 2025. As of September 6, 2025, 25 major stations on Lines 1 to 8 had new kiosks that took domestic cards, with 440 more to be installed.
• Phones: Android (Galaxy) users can already reload transit cards with overseas cards through Tmoney's Korea Tour Card app, and Seoul said it was working on reloading through Tmoney with Apple Pay for iPhone users.
• Tap-to-ride: a longer plan, from 2025 to 2030, to move to an EMV open-loop system so travelers can tap an overseas credit card directly on buses and subways. The steps run from bus terminals and a payment server (2025 to 2026), to Lines 1 to 8 (2027), to town buses and private railways (2028 to 2030).

These plans date from September 2025 and were still in progress then, so check Seoul Metro or Tmoney for the current status. Keep some cash for reloading until you have confirmed your card works at the machine you use.

7. A simple money plan

1. Arrive with a working credit card and a backup card from a different network.
2. Exchange a small amount at the airport counter for your first day.
3. Do any larger exchange at a bank on a weekday, before 16:00.
4. Keep a few ₩1,000 and ₩10,000 bills for small shops and transit top-ups.

8. Key takeaways

• The won comes in ₩50,000, ₩10,000, ₩5,000, and ₩1,000 bills; "man" means ten thousand.
• KTO says most places accept credit cards, even for small purchases, but small family-run shops may not.
• Banks generally open 9:00 to 16:00 on weekdays; airport exchange counters typically run 6:00 to 22:00.
• Incheon's bank branches close on weekends, so weekend arrivals should use exchange counters.
• Seoul is gradually enabling overseas cards for transit; carry some cash for reloads until then.