How much cash to carry in South Korea - plus ATM fees to expect

South Korea runs on cards more than cash these days — credit cards make up the largest share of transactions in cities — but it's smart to carry some won anyway, since markets, street food stalls, and rural spots still lean cash-only. A mix of both covers you everywhere.

Cash or card: what should I actually use?

Cards, especially Visa and Mastercard, are accepted almost everywhere in cities — shops, cafés, hotels, and most taxis. Keep cash on hand for traditional markets like Gwangjang or Namdaemun in Seoul, street food vendors, smaller shops, and rural areas where card readers are less common. As of 2021 data, cash still accounted for about 21.6% of transaction volume by value, so it hasn't disappeared — but credit cards lead at 43%. Note that some small businesses may not take foreign-issued cards, so it's worth telling your bank you're traveling to avoid your card getting blocked.

Where do I find ATMs, and what will it cost me?

International-card ATMs are easy to find at convenience stores (GS25, CU, 7-Eleven), banks, subway stations, and airports — look for "Global ATM" signage or Visa/Mastercard/JCB logos. Bank ATMs typically allow larger withdrawals (around 1,000,000 KRW per transaction) but may close overnight; convenience store ATMs cap withdrawals lower (around 300,000 KRW) but run 24/7. Expect combined fees of roughly 2–4% from your home bank and the local ATM, plus convenience store machines may add a flat fee of about 3,000–5,000 KRW per withdrawal. To cut costs, withdraw larger sums less often (100,000–200,000 KRW at a time), favor bank ATMs, and always decline dynamic currency conversion — choose to be charged in KRW.

Will my card work for small purchases and transport?

Contactless payment is popular and widely accepted — purchases up to 50,000 KRW usually go through without inserting a card or signing. Local digital wallets like Samsung Pay, Kakao Pay, and Naver Pay are more commonly used than Apple Pay or Google Pay, so don't be surprised if those are the default options at checkout. For transit, get a T-money card (deposit roughly 2,500–3,000 KRW, refundable) to cover the Seoul subway/bus base fare of about 1,550 KRW. Some Seoul bus routes — about a quarter of them — have gone fully cashless, requiring a card, T-money, or app payment. Foreign cards may also incur a 1–3% surcharge on transactions.

How much should I budget per day?

Budget travelers spend roughly 50,000–80,000 KRW a day; mid-range travelers 100,000–180,000 KRW, with Seoul and Jeju trending higher. For reference: street snacks like tteokbokki or gimbap run 2,000–4,000 KRW, a casual meal around 10,000 KRW, a cappuccino about 5,500 KRW, and Korean BBQ for two with drinks around 70,000 KRW. Taxis start at about 4,800 KRW, while a KTX Seoul–Busan ticket ranges from roughly 59,800–83,700 KRW depending on train type.

FAQ

Should I exchange cash before arriving or withdraw there? The facts don't specify, but ATMs accepting international cards are widely available at airports and convenience stores, so withdrawing on arrival is straightforward — just check your bank's fees first.

Can I rely on contactless for everything? Mostly yes in cities for purchases under 50,000 KRW, but keep cash for markets, street vendors, and rural areas where cashless options are limited.

Is Apple Pay widely accepted? Less so — Samsung Pay, Kakao Pay, and Naver Pay are more commonly used in South Korea.

Sources

• https://cashessentials.org/south-korea-cash-and-digital-payments/
• Cash or card in South Korea: Which is the best way to pay? UK guide - Wise
• South Korea Currency & Money Guide: Exchange, Cards, and Tips
• https://www.koreaetour.com/banking-money-payments-south-korea-2025/
• https://www.travelmoneyoz.com/tools/blog/how-much-money-do-i-need-travel-south-korea
• https://roamix.app/connectivity-guides/south-korea
• Money & Payments | ToKorea.org