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South Korea (KR)

South Korea is a high-income East Asian democracy with world-class broadband, dense public transport, export-led technology giants, sophisticated healthcare, a powerful popular culture sector and one of Asia's most convenient urban lifestyles for expats who can adapt to Korean-language administration.

Capital: Seoul
Region: Asia
Language: Korean
Currency: KRW (₩)
Cost of living: Moderate (index 65)
Emergency: 119
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Currency & Money

Practical money tips for living in South Korea.

₩
South Korean won
KRW

Denominations

Coins: 10, 50, 100, 500 won. Notes: 1,000, 5,000, 10,000, 50,000 won.

Payment Culture

South Korea is highly cashless. Credit cards, debit cards, local transit cards, Kakao Pay, Naver Pay and Samsung Pay are common, while cash is still useful for market stalls and small rural vendors.

ATM Tips

Use Global ATM machines at banks such as KB Kookmin, Shinhan, Woori, Hana and NH NongHyup. Many domestic ATMs do not accept foreign cards, and late-night fees can apply.

Exchange Tips

Airport exchange is convenient but expensive. Banks in Myeongdong, Hongdae and major stations usually beat airports; Wise, Revolut and local bank FX apps are better for larger transfers.

Pro tip: Best apps for expats

  • • Wise — Send money internationally at near-interbank rates
  • • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
  • • N26 — German IBAN, free account, good for EU residents