Is cash widely accepted in Korea?

Credit cards, debit cards, and cash are all accepted without issue in South Korea, with cash becoming less common. According to the Bank of Korea, only about 20% of financial transactions in Korea are made with cash.



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However, if you enter the country with foreign currency, KRW notes, or checks above USD 10,000 or the equivalent in total, you must report it to the Customs. The same goes for cashier's checks in Korean won.

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How much money will you need for your trip to South Korea? You should plan to spend around ?147,903 ($111) per day on your vacation in South Korea, which is the average daily price based on the expenses of other visitors.

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The following items are restricted in South Korea and must be declared at customs:
  • Firearms: including replicas and toys.
  • Precious metals: gold jewelry used daily is not included.
  • Narcotics: illegal drugs including marijuana or cannabis, cocaine, opium etc.


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Tipping in bars and restaurants is not expected in South Korea, unlike in most countries in Europe and in the United States. The general rule is the service should be exceptional at all times, and with no expectation of extra pay. Tipping in South Korea can be considered rude and frowned upon.

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Traveling to South Korea? Don't forget your plastic. South Korea is a modern and cosmopolitan country, with exciting culture and food. Credit cards, debit cards, and cash are all accepted without issue in South Korea, with cash becoming less common.

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How much money will you need for your trip to South Korea? You should plan to spend around ?147,903 ($111) per day on your vacation in South Korea, which is the average daily price based on the expenses of other visitors.

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The average cost of living in South Korea is reasonable. It is not as cheap as living in some Asian countries like Laos or China, but it is also not as expensive as Japan or Singapore. In general, the most expensive living costs in the country will be found in the capital, Seoul.

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What Not to Do in Seoul on Your 1st Visit
  • Only staying in Myeongdong or Dongdaemun.
  • Skipping Seoul's natural attractions.
  • Talking loudly on public transportation.
  • Using one hand to receive/give something.
  • Sitting on subway seats reserved for the elderly/pregnant women.
  • Wearing shoes inside someone's home.


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Changing your money to South Korean Won prior to your trip would be ideal but you can also exchange foreign currency at any of the South Korean banks, currency exchange desks at Incheon Airport and Gimpo Airport, or in tourist areas like Myeongdong, Itaewon, and Dongdaemun – all of which are located in Seoul.

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If your place of residence is covered, then yes, $3000 is more than enough for a month in Seoul unless you have very expensive activities planned or plan to buy a lot of expensive items.

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Flights to South Korea can range from around $500 to $1,500 for a round-trip ticket, depending on the season and your departure location. Accommodation costs vary as well, with budget hotels or hostels starting at around $30 per night and luxury hotels reaching up to $300 or more.

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