The monetary unit in Korea is won (KRW). Coins are in denominations of KRW 10, 50, 100, and 500, whereas banknotes consist of denominations of KRW 1,000, 5,000, 10,000, and 50,000.
Each banknote shows an image of prominent people in Korean history. Banknotes are easily distinguishable because they have clearly different colors and feature very different portraits. The coins minted in denominations of KRW 10 and 50 are very small.
Various credit cards such as Visa, MasterCard, American Express, and Diners Club can be used conveniently at major hotels, department stores, large restaurants, and many retail shops.
- VISA: http://www.visa.com/
- MasterCard: http://www.mastercard.com/
- American Express: http://www10.americanexpress.com/
- Diners Club: http://www.dinersclub.com/
Foreign currency and traveler's check can be converted into Korean won at the Korean Exchange Bank and authorized exchange desks. The actual exchange rate for a particular currency may vary depending on the fluctuations in the foreign exchange market.
Exchange Rate ARS Service: 82-2-3709-8000
|Currency||Buying exchange rate||Selling exchange rate|
|United States dollar||1,171||1,130|
(As of January 1, 2012)