As of 2026-11-11 · Updated 2026-11-11
- The official currency is the won (₩), issued by the Bank of Korea. VisitKorea lists 1,000, 5,000, 10,000, and 50,000 won notes, and 10, 50, 100, and 500 won coins.
- Credit cards are widely accepted. VisitKorea names Visa, Mastercard, and American Express, and tells you to check with the store before you pay.
- Exchange money only at banks or authorized exchange centers. VisitKorea says banks are generally open 09:00 to 16:00 on weekdays, and Korea Post Bank until 16:30. Some airport exchangers stay open later, including 24-hour desks.
- If you bring in or take out means of payment that together exceed USD 10,000 equivalent, Korea Customs and the Bank of Korea say you must declare them.
- Official T-money Travel Cards cost 4,000 won. A combined T-money and WOWPASS product is listed at 6,000 won. This guide has no affiliate links.
Read the official VisitKorea currency guide
You will need Korean won for some cash-only places, transportation cards, and small purchases. Many shops and restaurants also accept cards.
This page uses official VisitKorea, Incheon Airport, T-money, Bank of Korea, and Korea Customs sources only. It does not list live exchange rates, because those change through the day.
Currency and cards
VisitKorea says the official currency is the Korean won (₩). It lists notes of 1,000, 5,000, 10,000, and 50,000 won, and coins of 10, 50, 100, and 500 won. The Bank of Korea issues Korea’s banknotes and coins.
The Bank of Korea says some older banknotes and coins are no longer issued, but they are still legal tender. VisitKorea says money exchange of old currency may not be accepted at certain banks or authorized exchange centers, so check beforehand if you need to exchange older notes.
Credit cards are widely accepted. VisitKorea names Visa, Mastercard, and American Express, and tells visitors to check with the store before purchase. This article does not claim that every shop takes every card, because official pages do not say that.
Where to exchange money
VisitKorea says you can exchange money at banks or authorized currency exchange centers. Use a licensed desk. Do not hand cash to an unofficial person who offers a “better rate” in a hall or parking area.
Bank hours, VisitKorea says, are generally 09:00 to 16:00 on weekdays. Korea Post Bank is listed as 09:00 to 16:30. Banks are typically closed on weekends and public holidays.
A separate VisitKorea page on foreign exchange banks in airports, last updated on 11 September 2026, says airport currency exchangers typically operate from 06:00 to 22:00, and some may operate 24 hours. It also lists KB, Hana, and Woori bank branches at Incheon Airport Terminals 1 and 2 as generally open 09:00 to 16:00 on weekdays and closed on weekends and holidays.
The official Incheon Airport convenience-facilities list for Terminal 1, checked today, includes 24-hour currency exchange desks, including:
- KB Bank Currency Exchange (Arrival Hall, 24H), near Arrival Hall B on the 1st floor (00:00–24:00, 032-743-3260)
- Woori Bank Currency Exchange 24H desks, including near Exit 11 on the 1st floor and other listed locations (00:00–24:00, 032-743-1050)
- KB Bank Currency Exchange (Departure Hall, 24H), near Check-In Counter F on the 3rd floor (00:00–24:00, 032-743-3260)
The same airport list also shows many exchangers open 06:00–22:00, and bank branches open 09:00–16:00. Hours can change. Confirm today’s hours on the official airport facilities page, including for Terminal 2.
Check official Incheon Airport bank and exchange hours
Declaring cash and other means of payment
Korea Customs says that if you bring into Korea means of payment — including foreign currency, Korean won, and won-denominated cashier’s checks — that together exceed the equivalent of USD 10,000, you must declare them to Customs. Amounts of USD 10,000 or less do not need this declaration or a permit.
The Bank of Korea’s official English “Payments and Transactions” page says the same rule on arrival and on departure: if you bring in or take out means of payment exceeding USD 10,000 equivalent, you must declare them.
For a nonresident who wants to buy foreign currency at a foreign-exchange bank when leaving Korea, the Bank of Korea says the bank may sell up to the amount that person previously sold to a bank or money changer since last entering the country, or up to USD 10,000 with no evidence. Amounts above that must be declared to the Bank of Korea. Money changers follow the same principle.
A nonresident leaving Korea, the Bank of Korea says, may carry up to USD 10,000 or the amount previously sold. Always declare on the official Customs form when the total is over the limit. Keep exchange receipts if you plan to change leftover won back later.
Read the official Korea Customs foreign-exchange declaration rules
ATMs
Incheon Airport’s official facilities list includes 24-hour ATMs and some machines labeled as including a foreign-currency ATM, at both departure and arrival areas of Terminal 1. Confirm the machine in front of you, and check Terminal 2 on the same official list.
This article does not state ATM fees or which foreign cards will work at every machine, because no official general fee list was confirmed today. Ask your card issuer before you travel, and read the on-screen fee notice before you withdraw.
T-money and prepaid travel cards
T-money’s official English page for foreign visitors describes the T-money Travel Card. The listed price is 4,000 won, sold at convenience stores and at the Incheon Airport bus ticket office.
The same official page lists a combined T-money and WOWPASS product at 6,000 won, sold at convenience stores. It also says the Korea Tour Card has been discontinued, and that existing Korea Tour Cards keep Travel Card partner benefits.
T-money says the Travel Card can be used nationwide on public transportation, including buses, subways, taxis, and airport and express buses, and at some convenience stores and tourist sites. For the trip from the airport into Seoul, see Incheon Airport to Seoul: AREX, Bus, and Taxi Compared.
This guide does not repeat the full card comparison here, and it has no affiliate links. See T-money Travel Card vs WOWPASS: What Replaced the Korea Tour Card for the official side-by-side details.
| Official product (T-money page) | Listed price | Where it is sold |
|---|---|---|
| T-money Travel Card | 4,000 won | C-stores; ICN bus office |
| T-money + WOWPASS combined product | 6,000 won | Convenience stores |
- T-money Travel Card. The official T-money page says it is sold at convenience stores and the Incheon Airport bus ticket office.
- T-money + WOWPASS combined product. The official page says it is sold at convenience stores.
Open the official T-money page for visitors
Common mistakes
- Bringing more than USD 10,000 equivalent in cash or other means of payment and not declaring it to Customs.
- Exchanging money with someone who is not a bank or an authorized exchange center.
- Expecting every bank desk at the airport to be open all night. Many exchangers close at 22:00, and bank branches follow weekday hours.
- Throwing away exchange receipts if you may convert leftover won when you leave.
- Assuming every shop, taxi, or ticket machine will take your foreign card without checking first.
FAQ
Q1. Do I have to exchange money at the airport?
No. VisitKorea says you can exchange money at banks or authorized centers, not only at the airport. The airport is convenient if you land late, because some official desks there are open 24 hours.
Q2. What is the cash declaration limit?
Korea Customs and the Bank of Korea say you must declare means of payment that together exceed USD 10,000 equivalent when you enter or leave Korea.
Q3. Can I use my foreign credit card in Korea?
Often yes. VisitKorea says cards are widely accepted, including Visa, Mastercard, and American Express, and tells you to check with the store before you pay.
Q4. How much is a T-money Travel Card?
The official T-money page for foreign visitors lists the Travel Card at 4,000 won. Confirm the price at the official sales point, because prices can change.
Q5. Can I change leftover won back when I leave?
Nonresidents are subject to the Bank of Korea rules summarized above. Keep your official exchange receipts, and declare amounts over USD 10,000 equivalent to Customs when you leave.
Q6. Are ATM fees published on official tourist pages?
The official pages checked today do not give one nationwide fee for foreign cards. Read the ATM screen, and ask your card issuer before you travel.
Checklist
- I know that Korea uses the won. If I need to exchange older notes, I will check with a bank or authorized exchange center first.
- I will use a bank or an authorized exchange center, not an unofficial offer.
- If I carry more than USD 10,000 equivalent, I will declare it to Korea Customs on arrival and again on departure if the same limit applies.
- I will keep exchange receipts if I may convert leftover won later.
- I will confirm airport bank and exchanger hours on the official airport page if I plan to change money at Incheon Airport.
- If I need a transit card, I will check the official T-money price and sales points.
- I have a plan for the trip into Seoul. See Incheon Airport to Seoul.
Sources（Checked 2026-11-11）
- VISITKOREA — Korean Currency
- VISITKOREA — Foreign Exchange Banks in Airports (page last updated 11 September 2026)
- Incheon International Airport — Convenience & Public Facilities (Finance / Insurance, Terminal 1)
- Bank of Korea — Payments and Transactions
- Bank of Korea — Currency in Circulation (Legal Tender)
- Korea Customs Service — 출입국시 외환신고제도 (Foreign-exchange declaration on arrival and departure)
- T-money — TMONEY TRAVEL CARD (official page for foreign visitors)
Rules, hours, and prices can change. Check the official website again before you travel.