Money and payments in Korea

Cards vs cash, ATMs that take foreign cards, the WOWPASS card, tipping, and the Korean-card-only traps.

4 min read

Korea is close to cashless. Cards are accepted almost everywhere, from department stores to street-food stalls with a terminal. You still want some cash for T-money top-ups, traditional markets and small guesthouses.

Cards

• Visa and Mastercard are accepted nearly everywhere. American Express, JCB and UnionPay are accepted in most tourist areas and department stores but not at every small shop.
• Expect to be asked for a PIN or a signature; both are normal.
• Online Korean sites (train tickets, some delivery apps, concerts) often reject foreign cards. Book through international platforms when you can.

Cash and ATMs

• Use ATMs marked Global or with a foreign-card logo; they are common in convenience stores and subway stations. Fees vary.
• Exchange rates are usually better at Myeongdong currency exchanges than at the airport. Exchange a small amount at the airport and the rest in the city.
• Korean won comes in 1,000 / 5,000 / 10,000 / 50,000 notes. 50,000-won notes are accepted everywhere.

WOWPASS

WOWPASS is a prepaid card designed for visitors: load it with foreign cash or a card at a kiosk, then pay like a Korean debit card and use the built-in T-money for transport. Useful if your own card is being declined or you want to control spending.

Tipping and tax

• No tipping in restaurants, taxis or hotels. It is not expected and can be awkward.
• Prices include 10% VAT. Visitors can claim tax refunds on purchases over 30,000 won at participating stores; many stores deduct it on the spot if you show your passport.

Mobile payments

Apple Pay works only with cards from a few Korean issuers (notably Hyundai Card). Samsung Pay with a foreign card generally does not work. Kakao Pay and Naver Pay require Korean bank accounts. Plan on a physical card plus some cash.