The unit of Korean currency is the Won(₩). Coin denominations are ₩10, ₩50, ₩100 and ₩500. Banknotes are ₩1,000, ₩5,000, ₩10,000, and ₩50,000
Currency Exchange
Foreign banknotes and traveler's check can be exchanged at foreign exchange banks and other authorized moneychangers.
As of December 2012, the exchange rate is approximately USD1 to KR₩1,100.
Credit Cards
Diners Club, Visa, American Express and Master Card are widely accepted at major hotels, shops and restaurants in the larger cities. Check with your credit card company for details of merchant acceptability and other services that may be available.
Traveler’s Check
Accepted, but may be difficult to change in smaller towns. To avoid additional exchange rate charges, travelers are advised to bring Traveler's checks in US Dollars. |