KRW Exchange Rate & Converter

Getting won without losing money on the way

The number above is the mid-market rate — the midpoint between what banks buy and sell at. Nobody hands you that rate, but it tells you what a fair deal looks like. The closer your actual rate sits to it, the better you did.

Roughly what each method costs you

• Card payments — usually within about 1% of mid-market, plus whatever foreign-transaction fee your own bank adds. For most visitors this is the cheapest option and Korea is close to fully cashless.
• Bank ATMs — reasonable rates, but check for a withdrawal fee at both ends. Look for machines marked "Global" or "Foreign Card"; not every ATM accepts overseas cards.
• Licensed exchange booths in Myeongdong, Itaewon and Namdaemun — often the best cash rate in the country, and better than banks. They are small storefronts, cash only, and they post their rates on a board outside.
• Airport counters and hotel desks — the most convenient and the most expensive. Change only what you need to reach the city.

Always pay in won

If a card terminal offers to charge you in your home currency, decline it and choose KRW. That offer is dynamic currency conversion, and the exchange rate is set by the terminal operator rather than your bank — it is reliably worse, sometimes by several percent. The same prompt appears at ATMs; the correct answer is "without conversion".

How much cash do you actually need in Korea?

Less than most visitors expect. Cards work on buses and subways (via a transit card), in convenience stores, taxis and almost all restaurants. Cash is still useful for traditional markets, small street-food stalls, some temple-stay programmes and rural bus fares. A modest amount for the first day, topped up from an ATM later, is usually the right shape.

Why the rate you see here moves

Currency markets trade continuously on weekdays, so the mid-market figure shifts through the day and freezes over the weekend. Rates published by exchange booths update far less often, which is why a booth board can look generous or stingy compared with the live number — it is simply lagging.

Common questions

Should I bring US dollars to exchange in Korea? Usually yes, if you want cash. Rates for USD, EUR and JPY at Seoul booths are competitive; less common currencies get worse treatment.

Can I change leftover won back? Yes, at banks and airport counters, but you lose on the spread twice. Spending it down at the airport convenience store is often the better move.

Are ₩50,000 notes accepted everywhere? Mostly, though small stalls and some taxis may not have change early in the day.