💳 Cash vs. Card in 2026
80%
of Seoul is cashless
₩100k
recommended cash buffer
10%
VAT rate (refundable)
Korea is 80%+ cashless in Seoul/Busan. Visa/Mastercard/UnionPay work at virtually all restaurants, cafés, taxis, convenience stores, transit, and shops.
💵 When You Still Need Cash
- Traditional markets (Gwangjang, Namdaemun stalls)
- Small rural restaurants and local eateries
- Some street food carts
- Temple entrance fees and donations
- Some Jeju guesthouses
- Public coin lockers (₩500–1,000 coins)
💡 Rule of thumb: Carry ₩100,000 (~$75 USD) in cash as a buffer. You likely won't need it in central Seoul, but it saves stress in rural areas.
🏧 ATMs for Foreign Cards
#1
Woori Bank Global ATM
⭐⭐⭐⭐⭐ ₩2–3k fee · ₩600k/tx limit · Look for teal "GLOBAL" sticker
#2
Citibank Korea
⭐⭐⭐⭐⭐ ₩0 for Citi cardholders · ₩600k/tx limit
#3
KB Kookmin / KEB Hana / Shinhan
⭐⭐⭐⭐ ₩3–5k fee · ₩600k/tx · Bank branch ATMs
#4
CU / GS25 / 7-Eleven ATM
⭐⭐⭐ ₩3–5k fee · ₩300k/tx limit · Available 24hr
| ATM Type | Fee | Success Rate | Max Withdrawal |
|---|---|---|---|
| Woori Bank (Global ATM) | ₩2–3k | ⭐⭐⭐⭐⭐ Best | ₩600k/tx |
| Citibank Korea | ₩0 (Citi cardholders) | ⭐⭐⭐⭐⭐ | ₩600k/tx |
| KB Kookmin, KEB Hana, Shinhan | ₩3–5k | ⭐⭐⭐⭐ | ₩600k/tx |
| CU / GS25 / 7-Eleven ATM | ₩3–5k | ⭐⭐⭐ | ₩300k/tx |
| Bank branch ATM | ₩3–5k | ⭐⭐⭐⭐ | up to ₩6M |
⚠️ Look for "Global ATM" or "Global Service" stickers. Many Korean ATMs only work with domestic cards. Incheon Airport, major train stations, and all convenience stores have reliable Global ATMs.
🙅 No Tipping Culture
Korea does NOT have a tipping culture.
Tipping in restaurants, taxis, and hotels is unusual and can cause confusion or even mild offense. Just don't do it.
Service Charges
- High-end hotels sometimes add 10% service charge automatically — check your bill
- Some western-style restaurants (Itaewon/Hannam) may add service fee
- Regular restaurants, taxis, cafés: pay the exact amount shown
🧾 VAT Tax Refund — Get Your 10% Back
Korea's VAT is 10%. Foreign visitors can claim refunds on purchases at participating stores (look for blue Global Blue or yellow Tax Free logo).
2026 Rules
Immediate Refund (at store)
- Minimum purchase: ₩15,000 per receipt
- Some stores: as low as ₩5,000
- Show passport at checkout
- Tax deducted from final price
- Max per receipt: ₩1,000,000
- Cumulative trip limit: ₩5,000,000
Airport Refund (for large amounts)
- For receipts >₩1M or stores without immediate refund
- Bring goods UNOPENED + receipts + passport
- Customs kiosk (before security)
- Then refund counter post-security
- Refund options: cash (KRW/USD) or card credit
- Must depart within 3 months of purchase
Airport Tax Refund Kiosk Locations
- ICN T1: 3F near check-in gates C and D (before security)
- ICN T2: 3F near gates H and M (before security)
- Self-service kiosks scan receipts and stamp customs clearance
- Allow 30–60 min extra if you have items to refund
Step-by-Step Airport Refund
1
Prepare
Gather ALL receipts + items UNOPENED in one bag
2
Find Customs Kiosk (3F)
T1: near gates C/D · T2: near gates H/M · Before security!
💡 Allow 30–45 min extra before your flight
3
Self-Service Scan
Scan receipts → system prints customs stamp automatically
4
Large Amounts
For purchases >₩1M: go to staffed customs desk nearby
5
Through Security
Proceed through security with stamped receipts in hand
6
Claim Refund
At Global Blue / Tax Refund counter post-security
💡 Take cash KRW immediately — card credit takes 2–4 weeks
💡 Pro Tips for Tax Refund
- Keep all receipts in one envelope throughout trip
- Don't open packaging until departing Korea (customs may check)
- Olive Young, Lotte, Shilla duty-free all participate
- Check "즉시환급" (immediate refund) sign in store windows
💱 Currency Exchange Tips
🥇
Myeongdong Booths
Best rates, open 09:00–21:00
1–2% over bank rate
🥈
Bank Branches
Standard bank rate, no fees
Nationwide availability
🥉
Hotel Lobby
Convenient but costly
3–5% worse than bank
❌
Home Country Airport
Worst option, avoid
5–8% worse
❌
ICN Airport Booths
Emergency only
Poor rates
Rate Comparison (Best → Worst)
- 🥇 Myeongdong booths — 1–2% over bank rate
- 🥈 Bank branches — standard bank rate, no fees
- 🥉 Hotel lobby exchange — 3–5% worse
- ❌ Home country airports — 5–8% worse
- ❌ ICN Airport booths — poor rates (only for emergency)
WOWPASS — Tourist Prepaid Card
A prepaid card popular with tourists. Load KRW from a machine (competitive rates), use like T-money for transit, tap at stores. Available at ICN Airport and convenience stores. Good alternative if you prefer one card for everything.