Common won amounts
| Korean won | Your currency | Roughly buys |
|---|---|---|
| ₩1,000 | A bungeoppang or a pack of gum | |
| ₩5,000 | An americano or a convenience store lunch box | |
| ₩10,000 | A bowl of bibimbap | |
| ₩50,000 | Korean BBQ dinner for two | |
| ₩100,000 | A budget hotel night in Seoul | |
| ₩1,000,000 | A mid-range week in Seoul for one |
Korean money basics
- Coins: ₩10, ₩50, ₩100, ₩500. Bills: ₩1,000 (blue), ₩5,000 (orange), ₩10,000 (green), ₩50,000 (yellow).
- Koreans count in units of 10,000 (만, man). "Sam-man won" is ₩30,000, and "baek-man won" is ₩1,000,000.
- Tipping is not expected in Korea, and prices already include 10% VAT.
Where to exchange money in Korea
Licensed money changers in Myeongdong and Itaewon usually offer the best cash rates. Banks are fine but slower. Airport counters have the weakest rates, so change only what you need for the first day. Many visitors now use a multi-currency travel card or a WOWPASS card instead of cash.
Frequently asked questions
Why does my bank give a different rate?
This converter shows the mid-market rate. Banks and exchange counters add a margin of about 1–2% for cash, and card networks add their own fees.
What is the symbol for Korean won?
₩, and the currency code is KRW. In Korea you will also see 원 (won) written after the number.