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Currency Exchange in Korea: Where and How to Change Money (2026)

Checked against official sources on October 20, 2026

Street food stalls on a Myeongdong shopping street in Seoul

Summary

Change money at a bank, an airport bank counter or a licensed exchange booth marked Certified, and bring your passport. Compare how many won you get for your amount, not the headline rate. Keep the receipt: under Korea's foreign exchange rules, it lets you change won back when you leave. As of October 2026, unmanned kiosks are limited to USD 2,000 a day per person.

At a glance

Bring
Passport
Bank hours
Usually weekdays 09:00–16:00
Booth sign
Certified
Kiosk limit
USD 2,000 a day per person
Keep
Receipt, to change won back
Declare cash
Over USD 10,000 in total

Korean for this

  • 환전소가 어디예요?

    hwanjeonsoga eodiyeyo?

    Where is the currency exchange?

All Korean phrases

Details

You can change money at banks, airport counters, licensed exchange booths and unmanned kiosks. The rules on paperwork and changing won back come from Korea's Foreign Exchange Transaction Regulations, in the version in force from 16 September 2026.

Before you start

  • Your passport. Banks and exchange booths check your identity. Kiosks scan an ID document.
  • A rough amount. Many costs can go on a card. Plan cash for transit-card top-ups and small vendors (see Cash, cards and mobile payments).
  • Your options. You can also withdraw won from a Global ATM with your own card, or load foreign cash onto a prepaid card such as WOWPASS.

Step by step

Step 1 — Choose where to exchange

  • Banks. Visit Seoul says banks "usually offer the best exchange rates to travelers". Most are open 09:00–16:00 on weekdays.
  • Airport bank counters. At Incheon Airport Terminal 1, Incheon Airport lists KB Kookmin and Woori Bank exchange counters open 24 hours, Hana Bank and some KB counters open 06:00–22:00, and bank branches open 09:00–16:00.
  • Licensed exchange booths (환전소hwanjeonsoExchange office). Money changers must register with the Korea Customs Service. Visit Seoul says certified booths show the word "Certified" and currency symbols, are usually in areas popular with international visitors, and open outside bank hours. Avoid uncertified booths.
  • Unmanned exchange kiosks. They scan your ID and are limited to USD 2,000 per person per day (USD 4,000 at operators with computerized records).

Step 2 — Compare rates the right way

Bank rate boards show several columns. When you change your cash into won, the column that matters is 현찰 파실 때hyeonchal pasil ttaeCash: when you sell. The 매매기준율maemae gijunyulBase rate is a reference, not what you get.

Ask each counter the same question: "How many won will I get for this amount, after any fee?" Compare that final figure. Rates differ between counters, even in the same airport or street.

Step 3 — Show your passport and keep the receipt

Hand over your cash and passport, and say 환전해 주세요hwanjeonhae juseyoPlease change this money. At a money changer, amounts above USD 2,000 a day (USD 4,000 at operators with computerized records) need a short form, the 외국환매각신청서oegukhwan maegak sincheongseoApplication to sell foreign exchange. Changers issue a 외국환매입증명서oegukhwan maeip jeungmyeongseoCertificate of foreign exchange purchase once to visitors.

Keep the receipt or certificate you are given. Seoul city's banking guide says the bank slip "will help you sell your Korean won for a foreign currency more easily on your departure".

Step 4 — Change leftover won back before you fly

Changing won back is 재환전jaehwanjeonRe-exchange. The rules differ by place:

  • At a bank: you can change back up to the amount you exchanged since your latest arrival, plus any won you withdrew in Korea with a foreign card. With no record, you can change up to USD 10,000. In that case the bank marks the amount in your passport, unless it is ₩1,000,000 or less.
  • At a money changer: only up to the amount you exchanged since your latest arrival, with your passport and purchase certificate. Up to USD 2,000 a day (USD 4,000 at some operators) can be done without the forms.

Ask whether the counter takes coins. If not, spend them before you fly.

Step 5 — Declare large amounts of cash

If you bring more than USD 10,000 in total (cash and other means of payment) into Korea, declare it to customs on arrival. Korea Customs says failing to declare can lead to penalties. See Arrival, immigration and customs.

Where to exchange at a glance

Place Hours ID Limits and notes
Bank branch Usually weekdays 09:00–16:00 Passport Keep the slip for changing won back
Incheon Airport T1 bank counters Some 24 hours; others 06:00–22:00 Passport Rates vary between counters
Certified exchange booth Often outside bank hours Passport Registered with Korea Customs; forms above USD 2,000 a day
Unmanned kiosk Varies ID scan Up to USD 2,000 a day (USD 4,000 at some operators)
Global ATM (your own card) Many 24 hours Card and PIN Your bank's fees apply; withdrawals count for changing won back
WOWPASS machine Varies See WOWPASS guide Loads cash onto a prepaid card, not into your hand

Common problems

  • Lost receipt. Without proof, a bank can still change up to USD 10,000 and will mark your passport. A money changer may refuse beyond USD 2,000.
  • Bank closed. Banks close at 16:00 on weekdays. Use an airport counter, a certified booth or an ATM.
  • Kiosk refuses a large amount. Kiosks stop at USD 2,000 a day per person (USD 4,000 at some operators).
  • Exchanging at the first counter you see. Ask two counters for their final won amount before you decide.

Questions and answers

Where is the best place to exchange money in Korea?

Visit Seoul says banks usually give travelers the best rates. Certified booths are convenient outside bank hours. Compare the final won amount at two places.

Should I exchange money at Incheon Airport?

The airport counters are convenient and some are open 24 hours. Rates vary, so you may want to change only what you need for the first day and compare in the city.

Do I need my passport to exchange money?

Yes. Banks and booths check identity, and kiosks scan an ID document.

Can I change Korean won back when I leave?

Yes. Banks can change back what you exchanged or withdrew by card in Korea, or up to USD 10,000 without proof. Money changers need your purchase certificate beyond USD 2,000 a day.

Is there a limit on how much I can exchange?

Kiosks and paperwork-free counter exchanges have daily limits. Seoul city's banking guide mentions USD 10,000 for visitors buying won; for larger sums, ask the bank what documents it needs.

Official sources (6)

Last checked October 20, 2026Next check due January 18, 2027

Rules can change. Confirm on the official site before you travel.

Next stepWOWPASS and Prepaid Travel Cards in Korea: How They Work (2026)

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