ATMs with a ‘Global’ sign work with internationally issued cards; very few are open 24 hours. Credit cards are widely accepted, except in the countryside.

More Information

The South Korean unit of currency is the won (₩), with ₩10, ₩50, ₩100 and ₩500 coins. Notes come in denominations of ₩1000, ₩5000, ₩10,000 and ₩50,000.

ATMs

ATMs that accept foreign cards are common: look for one that has a ‘Global’ sign or the logo of your credit-card company. ATMs often operate from 7am to 11pm but some are 24-hour. Restrictions on the amount you can withdraw in one transaction can vary but is usually around ₩1,000,000 per day. Lotte ATMs in 7-Eleven stores allow you to select from international banks for the transaction, including Citibank.

Changing Money

Many banks offer a foreign-exchange service. In big cities there are also licensed moneychangers, that keep longer hours than the banks and provide a faster service, but may only exchange $US cash.

Credit Cards

Credit cards are increasingly accepted across the board, but plenty of places, including budget accommodation, stalls and small restaurants, still require cash. Always have handy a stash of ₩10,000 notes in case.

Exchange Rates

AustraliaA$1₩821
CanadaC$1₩836
Europe€1₩1280
Japan¥100₩997
UKUK£1₩1464
USUS$1₩1103

For current exchange rates, see www.xe.com.

Tipping

Tipping is generally not expected.

  • Restaurants No need to tip; only top-end hotel restaurants will add a service charge.
  • Guides Not expected; a small gift will be appreciated, though.
  • Taxis No need to tip; fares are metered or agreed before you get in.
  • Hotels Only in the most luxurious do you need to tip bellboys etc, and only if service is good.