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Money & duty free for South Korea

Currency information: 

Won (KRW; symbol ₩). Notes are in denominations of ₩50,000, 10,000, 5,000 and 1,000. Chon means 'one thousand'. Coins are in denominations of ₩500, 100, 50 and 10.

Credit cards: 

American Express, Diners Club, MasterCard and Visa are widely accepted at major hotels, shops and restaurants in the larger cities. You may not be able use credit cards at small businesses and in rural areas. You may also want to check whether your credit card is accepted by looking at door signs before you enter an establishment. ATMs are available in all major cities, but not all of them will accept international cards. Just keep trying different outlets until you see a logo you recognise on the machine. Cards with the Plus and Cirrus logos are the easiest to use and most widely accepted in Korea.

ATM: 

ATMs are available in all major cities, but not all of them will accept international cards. KB bank is one of the most reliable for foreign cards. Many of the ATMs in Seoul subways accept foreign cards as well.

Travellers cheques: 

Accepted, but may be difficult to change in smaller towns. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in US dollars.

Banking hours: 

Mon-Fri 0900-1700.

Currency restriction: 

There are no restrictions on the import or export of local or foreign currency. However, amounts exceeding US$10,000 or equivalent must be declared.

Currency exchange: 

Foreign banknotes and travellers cheques can be exchanged at foreign exchange banks and other authorised money changers.

South Korea duty free

The following goods may be imported into the Republic of Korea - without incurring customs duty:

• 200 cigarettes or 50 cigars or 250g of other tobacco products (by persons aged 19 and over).
• One bottle (not exceeding 1l) of alcoholic beverage (by persons aged 20 and over).
• 60mL of perfume.
• Gifts up to the value of US$400.

Restricted items: Guns, firearms, knives and explosives; drugs (narcotics and psychotropic substances); quarantine-required goods (food, animal material, plant material etc); articles controlled by the Convention on International Trade in Endangered Species.

Banned imports: 

Books, publications, drawings and paintings, films, pornographic materials, video work and other items of similar nature considered to be harmful to public security or traditional custom; goods which may reveal confidential information about the government or which may be used for intelligence activities; coins, currency, bank notes, debenture and/or other negotiable instrument counterfeited, forged or imitated.

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