10 April 2020
COVID-19 UPDATE
How Much Cash to Exchange for South Korea
Flying to Korea or toying with the idea? Then you must already know the world of beauty waiting for you upon arrival- the compelling ancient villages, bustling cities, and untouched nature. Though, what you might not already know, is exactly how much South Korean Won ₩ (KRW) you’ll need to exchange before you jet. Don’t fret, we’ve got you covered. Simply read this article, exchange that travel cash, pack your bags and away you go.
If you’re short on time before your trip, we’ve got you covered there too (accommodating we know). Our easy 3-step online process guarantees you best-rate travel cash, delivered fast to your door. If you would prefer to pick it up in-store, our conveniently located stores stretch all across Australia, so pop in on your lunch break if need be – order online beforehand or simply just walk in.
Why Exchange Cash?
Before we delve into the depths of your awaiting holiday memories, let’s go through just why cash is key in South Korea.
- Although card payments are widely accepted, some merchants won’t accept cards for purchases under ₩10,000. Also, only some ATMs will accept foreign credit/debit cards.So it’s handy to have cash on you at all times to avoid a sticky situation.
- If you want to indulge in some of the world’s tastiest street food (who doesn’t) then it’s essential, you have cash at the ready. Street markets are widely cash-only and you can negotiate prices when paying with cash. So don’t miss out on a delicious flavour experience and exchange cash before you board.
- Transport in South Korea is seamless, with an abundance of cheap, convenient and cash-only options. Don’t get caught without a mode of transport just because you don’t have cash on you.
Now, time to get down to business, read below to get a good indication of just how much your South Korean adventure is going to set you back. The better prepared you are, the less likely it is that you’ll experience any nasty surprises.
| BUDGET | MID-RANGE | LUXURY | |
| AVERAGE DAILY COST | ₩42,958 | ₩108,946 | ₩276,733 |
| WEEKLY (Per Person) | ₩300,706 | ₩762,622 | ₩1,937,131 |
| MONTHLY (Per Person) | ₩1,202,824 | ₩3,050,488 | ₩7,748,524 |
| WEEKLY (Couple) | ₩601,412 | ₩1,525,244 | ₩3,874,262 |
| MONTHLY (Couple) | ₩2,405,648 | ₩6,100,976 | ₩15,497,048 |
| ACCOMODATION (Hotels/hostels per person) | ₩22,415 | ₩55,968 | ₩137,106 |
| ACCOMODATION (Double Occupancy Room) | ₩44,831 | ₩111,935 | ₩274,212 |
| FOOD (Meals for one day) | ₩9,968 | ₩24,191 | ₩55,185 |
| WATER | ₩946 | ₩946 | ₩946 |
| LOCAL TRANSPORT (taxis, local buses etc.) | ₩4,963 | ₩14,430 | ₩47,248 |
| INTERCITY TRANSPORTATION (Travel between cities) | ₩16,912 | ₩42,835 | ₩108,490 |
| CHANGDEOKGUNG ENTRY: | ₩3,000 | ₩3,000 | ₩3,000 |
| SUWON HWASEONG FORTRESS | ₩1,500 | ₩1,500 | ₩1,500 |
| BORYEONG MUD FESTIVAL ENTRY | ₩12,000-14,000 | ₩12,000-14,000 | ₩12,000-14,000 |
| LEEUM SAMSUNG MUSEUM OF ART | ₩5,000-10,000 | ₩5,000-10,000 | ₩5,000-10,000 |
So, now you know what to expect, it’s time to exchange that travel cash. And who better to help, than First Eastern FX? We’ll deliver the best rates right to your door or you can pick them up in-store. It’s that easy!
*This data is derived from the travel budgets of real travellers. The average daily costs are determined from the travel budgets submitted by travellers on forums, relevant accommodation booking websites and historical monument booking sites. Only those costs that fall within a reasonable range of the median are included, eliminating outliers.Connect with us:
