Travel Basics
Money & Payment (WOWPASS)
WOWPASS features, foreign credit card acceptance, and why you still need some cash.
Korea is essentially a "cashless society." Restaurants, cafes, convenience stores, clothing shops, even street vending machines accept cards. Money in Korea is straightforward — prepare one good card and you're set.
0. Korean money — bills and coins
Korean currency is the won (₩). The English code is KRW. 1 USD ≈ 1,400 KRW; 100 JPY ≈ 950 KRW (2026, fluctuates). Just 4 bills and 4 coins to know.
| Bill | Color | Person depicted | Real-world value |
|---|---|---|---|
| 1,000 KRW | Blue | Toegye Yi Hwang (Joseon scholar) | Convenience-store drink |
| 5,000 KRW | Yellow | Yulgok Yi I (Joseon scholar) | Kimbap roll, coffee |
| 10,000 KRW | Green | King Sejong (creator of Hangul) | Bowl of bibimbap or naengmyeon |
| 50,000 KRW | Red | Shin Saimdang (mother of Yi I) | Korean set meal, partial hotel night |
| Coin | Material | Where used |
|---|---|---|
| 10 KRW | Copper | Almost unused, change only |
| 50 KRW | Silver | Change, some vending machines |
| 100 KRW | Silver (large) | Vending machines, lockers, change |
| 500 KRW | Silver (largest) | Vending machines, subway single-ticket deposit |
Tip: Some shops can't change a 50,000 KRW bill
Convenience stores and small shops sometimes refuse 50,000 bills (they don't have enough change). When exchanging, ask for mostly 10,000 bills and just 1~2 of 50,000. Save 50,000 bills for department stores or hotels.
1. WOWPASS — the foreigner all-in-one
WOWPASS is a prepaid rechargeable card built specifically for foreign travelers. Get one at the airport or at major tourist hubs (Hongdae, Myeongdong, Gangnam, Busan Station). The biggest perk: insert your home currency (USD, JPY, CNY, EUR — 16 currencies supported) and it auto-converts to KRW and loads onto the card.
Why WOWPASS
- Currency exchange + payment + transit in one card
- Rates similar to Myeongdong private exchanges (3~5% better than airport)
- Issued in 5 minutes with passport ID
- Free card. Initial top-up of 5,000 KRW required
- Refund balance to foreign currency at any kiosk before flying out
[WOWPASS kiosk in Incheon Airport arrivals]
Watch out: Transit balance is separate
WOWPASS holds two balances: a payment balance and a T-money (transit) balance. You can't use the payment balance for the subway. The transit balance can ONLY be topped up with KRW cash at subway machines or convenience stores — credit cards don't work for this.
2. Credit cards — where they work and where they don't
Foreign Visa, Mastercard, JCB cards are accepted in 95%+ of restaurants, cafes, convenience stores, and department stores. Five exceptions: street food carts, traditional market stalls, subway vending machines, some neighborhood eateries, and a small fraction of taxis.
| Place | Card accepted? | Backup |
|---|---|---|
| Franchise restaurants/cafes | Almost always | WOWPASS or foreign card |
| Convenience stores (CU, GS25, 7-Eleven) | Yes | Card |
| Department stores, outlets, Olive Young | Yes | Card + tax refund |
| Traditional markets, street carts | Mostly no | Cash (10,000~20,000 KRW) |
| Subway vending (T-money top-up) | No — cash only | Cash in 5,000 / 10,000 bills |
| Regular taxis | Mostly yes | Use Kakao T app payment |
3. Apple Pay & Samsung Pay in Korea
Apple Pay launched in Korea in March 2023. Initially only Hyundai Card, now expanded to Shinhan and BC Card too. Your home-country Apple Pay works in Korea. Acceptance is growing — convenience stores GS25 / CU, Starbucks, McDonald's, some department stores work; small neighborhood shops may not.
Samsung Pay is Korean-resident only — needs a Korean bank account. Same for KakaoPay and NaverPay. Foreigners stick with WOWPASS, your own credit card, or Apple Pay.
Tip: WeChat Pay & Alipay are spreading
To welcome Chinese tourists, many shops in Myeongdong, Hongdae, Gangnam, and Dongdaemun accept WeChat Pay and Alipay. Travelers from China, Hong Kong, Taiwan can use familiar apps.
4. Currency exchange — where to get the best rate
Four exchange options. Worst rate: airport (3~5% loss). Best rates: Myeongdong / Hongdae private exchanges. WOWPASS sits close to private exchange rates and is highly convenient.
Exchange options ranked
- 1st: WOWPASS kiosk (convenient, good rate)
- 2nd: Myeongdong / Hongdae / Dongdaemun private exchanges (best for cash)
- 3rd: Korean ATM with foreign debit card (2~3% in fees)
- 4th: Airport exchange (only emergency, max 50,000 KRW)
Myeongdong private exchanges — exact directions
The best rates in Seoul are in Myeongdong. Around Subway Line 4 Myeongdong Station, 10+ exchanges cluster within a 5-minute walk. Compare 2~3 booths and go with the best rate.
How to find Myeongdong exchanges
- Take Subway Line 4 Myeongdong Station, Exit 6
- Walk straight onto Myeongdong main street — look for "환전(換錢)" or "Money Exchange" signs
- Notable: Daejang Exchange, Myeongdong Exchange, Ilpum Exchange (all 5 min from Exit 6)
- Hours: typically 9:00 AM ~ 9:00 PM
- Bring: foreign cash + passport (passport required for 100,000+ KRW exchanges)
Global ATMs — withdrawing won with foreign cards
You can also withdraw KRW from an ATM with your home debit card. Not every ATM accepts foreign cards — only those marked "Global ATM" or "Foreign Card Accepted."
| Bank/Location | Global ATM? | Fee |
|---|---|---|
| Citibank | Mostly yes, 24/7 | ~3,500 KRW per withdrawal |
| Hana Bank — branch | Yes (during business hours) | ~3,500 KRW per withdrawal |
| Airports / stations / tourist areas | Mostly yes (look for "Global" label) | 4,000~5,000 KRW |
| Convenience store CU / GS25 ATMs | Some only (check label) | 4,000 KRW |
| Local Nonghyup / Shinhan ATMs | Rarely | — |
Tip: ATM English menu
Press "English" on the first screen and everything appears in English. Insert card → English → Withdrawal → amount → 4-digit PIN → receipt → take card. Same PIN as your home country.
Watch out: Hotel exchange is poor
Hotel currency exchange is convenient but rates are even worse than the airport — 5~7% loss. Ask the front desk for the nearest private exchange or WOWPASS kiosk instead.
5. Next steps
Transit cards & WOWPASS together
How to top up the transit balance on WOWPASS and use it day-to-day.
Tax refund on shopping
How to claim 7~10% VAT refund on 150,000+ KRW shopping (and clinic procedures).