WHERE TO EXCHANGE CURRENCY

Myeongdong is the best place to exchange your currency. There are plenty of money changers in the area and they’re known to give the best rates in the city. The rates at currency exchange offices in other areas were never as good. At the airport for example, the rate I was given was KRW 1,041.10 to the dollar (USD) in December 2017. But in Myeongdong, I exchanged currency at two places and got rates of KRW 1,096 and KRW 1,093. In other areas, they were around KRW 1,085 or even less.

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I suggest changing a small amount at the airport, no more than USD 100, just to get you in to the city. You can then change the rest in Myeongdong.

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Alternatively, you can also withdraw KRW from an ATM. The rates are competitive. Just be sure to advise your bank you’ll be using your ATM card overseas so you don’t run into any problems. In my experience, my ATM card works in some machines but not in others. I didn’t have any problems using it in Seoul.