Korea Travel Currency Exchange Guide – Airport, Myeongdong, ATM & Tips
Korea Currency Exchange Guide | Where, How Much, and How to Exchange
Hello, this is Guide H ✈️
When planning a trip to Korea, many travelers wonder “Where is the best place to exchange money?” and “How much should I exchange?”
This guide covers comparison of exchange options, airport vs Myeongdong vs ATM, and practical tips in one place.
This article was written based on 2026. Exchange rates, fees, and opening hours may change—please check the latest info before you go.
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💱 Currency Exchange Options at a Glance
| Option | Pros | Cons | Best for |
|---|---|---|---|
| Airport | Use right after arrival | Usually worse rate/fees | Small amount for day one only |
| Myeongdong / Euljiro | Better rates, many no-fee spots | Need to get there from airport/hotel | Main exchange, 2–3+ days ✅ |
| Exchange at home | Ready before departure | Rates/fees vary by bank | If you prefer to prepare in advance |
| Local ATM | Withdraw only when needed | Fees and daily limits apply | As a backup |
| WOWPASS | Exchange + transport card in one; works at most card-accepting places | Issuance and top-up only at designated spots (e.g. Incheon Airport) | Incheon arrival, transport-focused |
Recommended strategy: Exchange only a small amount at the airport (transport + first meal), then do your main exchange in Myeongdong or Euljiro for better rates.
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🏦 1. Exchanging at the Airport (Incheon & Gimpo)
Right after landing, you’ll need some cash for subway, bus, and T-money top-up. Use the airport exchange counters for this.
Incheon International Airport
- Location: Both Terminal 1 and Terminal 2 have exchange counters and bank booths on the Arrival floor.
- Hours: Vary by counter (e.g. 24h or 07:00–21:00). Check the signs.
- Tip: If you’re in a hurry, exchange only a small amount inside the arrival hall and do your main exchange in Seoul (Myeongdong or Euljiro). If you’re in a hurry, a small exchange inside is fine.
Gimpo Airport
- Location: International arrival area has exchange counters.
- Tip: There are fewer options than at Incheon, so exchange only what you need for transport and one meal, and do the rest in Seoul.
⚠️ T-money purchase and top-up require cash (KRW). See our T-money at Incheon Airport guide for details.
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🏙️ 2. Myeongdong & Euljiro Exchange Shops (Best for Main Exchange)
Once you’re in Seoul, if you want to exchange a larger amount, use the Myeongdong and Euljiro exchange area.
Why Myeongdong / Euljiro?
- Many shops offer better rates than banks and no commission.
- With a bit of comparison, you can often get around 1–3% more KRW than at the airport.
Tips
- Bring your passport: Some shops ask for ID for larger amounts.
- Larger notes: Higher denominations (e.g. $100) sometimes get a slightly better rate than small notes.
- Check on the spot: Right after exchanging, count the notes and total amount in front of the counter to avoid disputes.
How to find
- Near Myeongdong Station and Euljiro Station, look for signs like “환전” (exchange) or “외환” (foreign exchange).
- Search “Myeongdong exchange” or “Euljiro exchange” on Naver Map for locations and reviews.
(Google Maps can be unreliable in Korea due to local map restrictions; Naver Map is recommended.)
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💳 3. Withdrawing Cash from ATMs
If you prefer to get KRW only when needed, use global ATMs.
Where to find them
- Incheon Airport (arrival and departure areas)
- Some convenience stores (CU, GS25, 7-Eleven, etc.)
- Banks (check branch opening hours; many are closed Sundays)
What to check
- International withdrawal fee from your card issuer
- Cash advance fee/interest if using a credit card — debit/check card is usually better
- Daily withdrawal limit set by your bank or card
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💵 4. How Much to Exchange? (Rough Guide by Trip Length)
- If you use cards a lot, you mainly need cash for transport, markets, and small vendors.
- If you use more cash, the table below is a rough per-person reference.
| Trip length | Suggested cash (per person, approx.) |
|---|---|
| 1 day | 50,000–100,000 KRW |
| 2–3 days | 150,000–300,000 KRW |
| 1 week | 300,000–700,000 KRW |
- T-money / WOWPASS need separate top-up, so you can include transport in the above.
- Many hotels, shops, and restaurants take cards, so treat cash as backup + small payments.
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⚠️ 5. Things to Watch When Exchanging
- Fees vs rate: “No commission” can still mean the fee is in the rate. Always check the actual KRW amount you receive.
- Passport: Carry it for larger exchanges; some shops require ID.
- Note condition: Torn or dirty notes may get a worse rate or be refused. Clean bills are best.
- Count on the spot: Count the number of notes and total right there and raise any issue immediately.
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🔄 6. Alternatives: WOWPASS & Cards
- WOWPASS: A card you can get at Incheon Airport that works as transport + exchange. You load it with your foreign card and use it as KRW — handy for “exchange + transport in one.”
- Card payments: Most hotels, supermarkets, restaurants, and convenience stores accept cards, so you only need cash for transport, markets, and small spots.
For getting into Seoul, see Incheon Airport to Seoul and Gimpo Airport to Myeongdong.
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❓ FAQ
Q. Can I exchange everything at the airport?
A. You can, but rates are usually worse. Better to change only a small amount at the airport and do the main exchange in Myeongdong or Euljiro.
Q. Is USD enough?
A. Yes. USD is the most widely accepted and usually has good rates. EUR and other major currencies are also accepted in many places.
Q. What about leftover KRW?
A. You can often re-exchange KRW to foreign currency at the airport before departure. Check counters and possible fees in advance.
Q. Can I avoid cash and use only cards?
A. Public transport (subway, bus) requires T-money or similar, and topping up usually needs cash (KRW). So it’s best to have at least some cash for transport and small purchases.
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✅ Summary
- Airport: Exchange only a small amount (transport, T-money, first meal).
- Myeongdong / Euljiro: Do your main exchange here; compare rates and fees.
- ATM: Use as backup; check fees and limits and prefer a debit/check card.
- How much: Start with about 50,000–100,000 KRW per person per day and adjust based on how much you use cards.