Asked by: Bocar Huie
personal finance credit cards

Can I use my credit card in South Korea?

Last Updated: 4th June, 2020

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You can use your Visa or Mastercard andtravel money card almost everywhere in South Korea.While debit cards can be used to make purchases, notall ATMs accept foreign cards. SO load your creditcards onto your smartphones and leave your credit cardsback at the hotel when you go out in big cities.

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Accordingly, what credit cards are accepted in South Korea?

Payment Options Since South Koreans are avid credit cardusers, it's become easier for visitors to use credit cardsin most stores and restaurants. Visa and MasterCard are the mostwidely accepted types, with some high-end hotels andrestaurants accepting American Express.

One may also ask, is USD accepted in South Korea? South Korea's currency is the South Koreanwon. South Korean won is the only reliable currency inSouth Korea. Some places, especially in larger cities, willaccept US dollars, but change will generally be given inwon.

Furthermore, can foreigners get credit cards in Korea?

Foreigners with a 'Korean credit history'will not be eligible for secured cards; however, asmall proportion of expats -- those new to Korea with nopre-existing Korean credit history -- will still havethe option of getting a secured creditcard.

How much money can I take out of Korea?

Non-residents: Local currency (Korean Won-KRW) upto KRW 8,000,000.-. Foreign currencies: unlimited, if declared onarrival. Amounts exceeding the equivalent of USD 10,000.-(including traveler's cheques) must be accompanied by a"Declaration of Foreign Currencies" form.

Related Question Answers

Lachelle Carracha

Professional

What can you bring into South Korea?

What You Can Bring into South Korea -- Ifyou are over 19, you can bring the following goodsinto South Korea without incurring a custom tax: 200cigarettes, 50 cigars, or 250 grams of other tobacco products;one bottle (not exceeding 1 liter) of alcohol; 57 grams ofperfume; gifts up to the value of W300,000.

Xeber Rossel

Professional

How much is 1000 Korean dollars worth in the US?

Quick Conversions from South Korean Won to United StatesDollar : 1 KRW = 0.00084 USD
KRW USD
₩ 250 $, US$ 0.21
₩ 500 $, US$ 0.42
₩ 1,000 $, US$ 0.84
₩ 5,000 $, US$ 4.19

Soiartze Esquivel

Professional

What foods can I bring into Korea?

Items to be declared
  • Meat and poultry items such as beef, pork, lamb, chicken,etc.
  • Processed meat products such as ham, sausage, beef jerky,marinated beef, canned meats, etc.
  • Animal bone items such as antlers, bones, horns, tusks,etc.
  • Egg products such as whole eggs, egg whites, powdered eggs,etc.

Mikhaylo Pegalajar

Explainer

Where can I change money in Korea?

Below is the list of the best places and banks to exchangemoney in Seoul, which will help you get more wons for yourtrip.

  • Money Changers in Myeongdong.
  • Money Changers in Dongdaemun.
  • Money Changers in Itaewon.
  • KEB Hana Bank (formerly Korean Exchange Bank)
  • Pacific Exchange in Mapo-gu.

Florrie Keuerleben

Explainer

Do you need cash in Seoul?

Visa and MasterCard are the most widely accepted types,with some high-end hotels and restaurants accepting AmericanExpress. For smaller restaurants, outdoor markets, and bus fare,cash is necessary. However, don't carry excessive amounts ofcash.

Franchesca De Blas

Explainer

Will my debit card work in South Korea?

You can use your Visa or Mastercard and travelmoney card almost everywhere in South Korea. Whiledebit cards can be used to make purchases, not allATMs accept foreign cards.

Angely Jahnig

Pundit

Do taxis in Seoul accept credit cards?

While virtually all taxis operating in theSeoul area accept credit cards or transportationcards, it is possible that some taxis in the outlyingor isolated regions may request cash only. Keep this in mind andmake sure to have some cash (in Korean won) with you if you plan touse a cab in remote areas.

Dalcy Lygach

Pundit

What American banks are in South Korea?

List of American Banks in Seoul
  • Bank of America. Tel: 82-2-788-1400.
  • Bank of New York Mellon (Seoul Branch) Tel:82-2-6137-0001.
  • Citibank, N.A. (Seoul Branch) Tel: 82-2-3004-2004.
  • JP Morgan Chase (Seoul Branch) Tel: 82-2-758-5600,5500.
  • KEB Hana Bank.
  • Woori Bank.
  • KB Kookmin Bank.
  • Nonghyup Bank (NH Bank)

Vojtech Wenners

Pundit

What is a black card in Korea?

Credit cards designed for the affluent andstatus-conscious, with a million-won ($1,000) annual fee attached,have been sold in the last three months to more than 300 people,mostly identified as business executives, lawyers and doctors.Hyundai Card Co. started issuing the premium “BlackCard” in early February.

Filipe CaƱones

Pundit

How do I get a Korean bank account?

Opening a Bank Account in Korea
  1. You must visit the bank in person to open your account andbring your alien registration card (you many also be asked for yourpassport).
  2. You will be asked to fill out a form giving your 'real' name(the one on your passport), your residential and/or businessaddress and telephone number.

Samoila Kreuzahler

Pundit

Can foreigners get loans in Korea?

Korea Exchange Bank provides loans tocustomers including foreigners, in good financial standing,requiring no collateral. The loan is available forexpatriates who have stayed in Korea for six months orlonger and who meet KEB's standards for employment, position,annual income and credit rating.

Miodrag Schmelzeisen

Teacher

Can Tourist open bank account in Korea?

A resident foreigner can open a bankaccount by simply visiting the bank in question, whetherhe/she resides in Korea or not. You should be at a branch ofthe bank chosen by you and ask to open anaccount. You should present your resident foreignerregistration certificate and passport.

Golam Neijhoft

Teacher

Can foreigner buy house in Korea?

Due to high housing costs, many foreigners livingin South Korea choose to rent instead of buy.Non-resident foreigners are subject to theForeigner's Land Acquisition Act, the Registration ofReal Estate Act and the Foreign Exchange TransactionsAct.

Liliam Evstratov

Teacher

What is Korean money called?

South Korean won

Florenta Tabla

Teacher

Should I exchange money before I travel to Japan?

Exchange at the Airport
The rates are the same as at the banks, and you want tohave Japanese yen once you leave the airport. It is possible toexchange money at major hotels, but the rates are usuallynot as good. Depending on where you are traveling from, itmight be beneficial to exchange money beforearriving.

Ivailo Recalde

Reviewer

Can you spend American money in Canada?

Though you shouldn't have an issue usingAmerican cash at most major retailers and touristdestinations in Canada, keep in mind that Canadianretailers are free to set their own exchange rate betweenCanadian and U.S. currency, and they'll most likelydo so in a way that's unfavorable to thecustomer.

Tabatha Vormfelde

Reviewer

Can I use Discover Card in Korea?

Credit/Debit Card use inKorea
In Korea, not like other countries almost all(99.9%) of stores accept credit or debit cards. Also,they all accept cards with international brand such asMastercard, Visa, American Express, Discover, Diners Club,Unionpay, JCB.