South Korea is one of the most digitalised countries in the world: almost everything is paid for by card or smartphone. Yet cash won remains essential in many situations. Here's how to understand the local currency and prepare your budget before you leave, with complete peace of mind.
The South Korean won (KRW), the currency to know
The official currency is the South Korean won, whose symbol is ₩ and international code KRW. One detail that throws European travellers off: amounts are displayed in very large figures. A coffee is counted in the thousands of won, a meal in the tens of thousands. It takes a little while to adjust to juggling so many zeros and to keep a sense of what you are actually spending.
The banknotes in circulation are 1,000, 5,000, 10,000 and 50,000 won. The common coins range from 10 to 500 won (10, 50, 100 and 500). The 50,000 won note, bearing the likeness of the artist and scholar Shin Saimdang, is the largest denomination: handy for withdrawals, but sometimes hard to get accepted for small purchases at markets or with street vendors. It's therefore better to keep an assortment of small notes on you.
A very digital society… but cash still comes in handy
South Korea runs on electronic payment. Bank cards work almost everywhere, even for tiny amounts, and Koreans make heavy use of mobile solutions such as KakaoPay or Naver Pay. These apps, however, are often tied to a phone number and a local bank account, so they're hardly accessible to passing tourists. In big cities like Seoul or Busan, you could in theory travel almost without cash.
In practice, keeping some cash remains a genuine safety net in several concrete cases:
- Traditional markets (Gwangjang, Namdaemun, Tongin) and street food stalls, where cash is king.
- Small family-run restaurants and certain shops located off the tourist trail.
- Rural areas, temples, countryside markets and traditional accommodation (hanok, guesthouses).
- Topping up the T-money transport card, indispensable for the metro, the bus and many taxis, which is reloaded mainly with cash in convenience stores.
ATMs and withdrawals on site
On the spot, not all ATMs accept foreign cards. Look for the machines marked "Global ATM": you'll find them in round-the-clock convenience stores (GS25, CU, 7-Eleven) as well as in banks and airports. Stay mindful of withdrawal limits, the operating hours of certain bank machines, and the fees that can stack up: the ATM's commission, your bank's charges and the conversion rate applied.
To avoid these uncertainties right on arrival, many travellers prefer to set off with an initial reserve of won already in their pocket, giving themselves time to find their bearings. This saves you from hunting for a compatible ATM as you step off the plane, tired and jet-lagged.
Tipping, taxes and payment etiquette
Good news for your budget: tipping is not a custom in South Korea. At a restaurant, in a taxi or at a hotel, it is neither expected nor necessary; insisting on leaving something extra can even cause some awkwardness. The displayed price is generally the one you pay, taxes included in most shops.
Preparing your currency exchange before departure
Changing your euros in France before leaving offers a double advantage: you set your budget without rushing and you arrive with your mind at ease. At Paris Change, a bureau de change approved by the ACPR (Banque de France), you exchange your euros commission-free and have access to more than 53 currencies, including the South Korean won. You can browse our currencies and reserve your amount online, then come and collect it in store.
Our single branch is located at 4 Boulevard Saint-Michel, 75005 Paris, in the heart of the Latin Quarter, directly accessible via the Saint-Michel metro (line 4) and the RER B and C (Saint-Michel–Notre-Dame). We are open 7 days a week: Monday to Saturday from 9:00 am to 8:00 pm, and Sunday from 10:00 am to 7:30 pm, which remains rare in Paris and very handy for fitting in one last stop before a long trip.
Finally, keep in mind the customs rule: above €10,000 (or the equivalent in foreign currency) in cash carried into or out of the European Union, a customs declaration is mandatory. For a typical tourist stay, you'll remain well below this threshold.
Frequently asked questions
Do you need cash in South Korea when everything is digital?
Yes. Cards work almost everywhere in the big cities, but traditional markets, street food, certain small restaurants, rural areas and topping up the T-money card often run on cash. A reserve of won remains essential.
Is it better to change your euros in France or in Korea?
Changing an initial reserve in France saves you from hunting for a compatible "Global ATM" on arrival and from incurring unexpected fees. It's more relaxing, especially after a long flight and with jet lag.
Should you leave a tip in South Korea?
No, tipping is not part of Korean culture. The displayed price is the one you pay, with no extra expected at a restaurant or in a taxi.
Prepare your trip with complete peace of mind: reserve your won online and collect them at 4 Boulevard Saint-Michel, open 7 days a week and commission-free. Discover our currencies available right now.
