South Korea Money


The currency of South Korea is the won(₩), written 원 in hangul. Coins come in denominations of ₩10, ₩50, ₩100 and ₩500, while banknotes come in denominations of ₩1000(blue), ₩5000(red), ₩10, 000(green) and ₩50, 000(yellow). ATM are ubiquitous, but most Korean ATMs don't accept foreign cards, only Citibank ATMs and special Global ATMs do. These can be found at airports in some areas frequented by foreigners in major cities, including some subway stations, and in many Family Mart convenience stores.


As a rule, tipping is not necessary anywhere in Korea, and is not practised by locals, although bellhops, hotel maids, taxi drivers and bars frequented by Westerners will not reject any tips you care to hand out.

Tax Refund

Each and every product sold in Korea includes sales tax in the purchase price and alue-added tax (VAT) is 10%. Make a purchase of 30000 won or more at a participating retail store and be purchased within 3 months of your departure from Korea. Participating stores are designated by the “Global Blue Tax Free” or “Global Tax Free” logo. Be sure to keep your VAT refund receipt when purchasing items. When you at airports or seaport terminals, after you’ve finished going through immigration, go to the refund counter to receive your tax refund.

For more information, please check www. globalblue. com and www. global-taxfree. com