Bank & Currency

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Currency Increments

Korean currency is Won. There are bills in increments of ₩1,000, ₩5,000, ₩10,000, and ₩50,000. Coins are arranged in increments of ₩10, ₩50, ₩100, ₩500. The ISO 4217 code is KRW, and the sign is ₩.



Bank

Bank operation hours
  • Mon~Fri: 0900~1600
  • During non-operation hours: Use the ATM
Deposit and withdrawl, ATM
  • Fill out the deposit or withdrawl slip, and go to the teller. Deposit does not require PIN, but withdrawl requires PIN and signature(seal).
  • ATM can be accessed with bankbooks or ATM cards. Must provide PIN. 3 failed attempts to provide the PIN will result in the account being locked for safety measures. Using the ATM during non-operation hours and using ATM from another bank will require a fee.


Tips

In general, there are no tips in Korea. Service charges are included in the check. However, when asking for a service other than basic services at upper-class restaurants and hotels, some tip may be required.



Taxes

Foreign tourists can obtain rebate of 10% on (VAT) they paid at Duty Free Shops within Korea.



Tax Rebate

VAT rebate is limited to foreign tourists only

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