Short answer: less than you think
Korea is effectively a cashless country for tourists. Seoul, Busan, and Jeju run on cards and mobile wallets (Apple Pay, Google Pay, Samsung Pay). You will rarely need cash, and when you do it's usually 5,000-30,000 KRW at a time for street food, markets, or small shops.
For most travelers: 100,000-200,000 KRW ($70-145) cash on hand covers a full week of cash-only moments. Everything else goes on a no-foreign-fee credit card.
Cash needed by traveler type
| Traveler type | Cash per day (KRW) | USD equivalent | Weekly cash |
|---|---|---|---|
| Card-first tourist | 10,000-20,000 | $7-15 | 100,000 KRW / $70 |
| Mixed card + cash | 25,000-40,000 | $18-29 | 200,000 KRW / $145 |
| Markets + street food heavy | 35,000-60,000 | $25-44 | 300,000 KRW / $215 |
| Upscale, hotels paying for everything | 5,000-15,000 | $4-11 | 50,000-100,000 KRW / $35-70 |
Where you actually need cash
- Traditional markets: Namdaemun, Gwangjang, Noryangjin Fish Market, smaller village markets outside Seoul
- Street food carts: most take cash; some have card readers
- Small family restaurants in side streets: not all have terminals
- Older taxis: rare now, but some don't take cards
- Jjimjilbang (bathhouses): often cash for drinks and food inside
- Tips at high-end hotels (1,000-5,000 KRW to bellhops)
- Vending machines (many take T-money card, but some cash only)
Where cards work flawlessly
- Subway, buses, trains: T-money card handles all (10,000-30,000 KRW top-up covers 1-2 weeks)
- All mid-range and upscale restaurants: Visa/Mastercard universal
- Convenience stores: GS25, CU, 7-Eleven all card-friendly
- Hotels and hostels: card payment expected
- Chain cafes: Starbucks, Ediya, Twosome Place, Tom N Toms
- Department stores: Lotte, Shinsegae, Hyundai
- K-beauty chains: Olive Young, AritaumLaneige pop-ups
- Tourist attractions: palaces, N Seoul Tower, Lotte World all take cards at ticket booths
- Grab, Uber, Kakao T taxis: app-based payment
Pre-flight cash strategy
Option A (recommended): Arrive with $50-100 USD as emergency cash. At Incheon Airport, pull 100,000 KRW from a Global ATM past customs. Done.
Option B (if you hate arriving without local currency): Order 100,000-200,000 KRW through your US bank 1 week before travel. Expect 3-5% spread vs market rate. Not ideal but acceptable for peace of mind.
Option C (avoid): Airport USD-to-KRW exchange counters at JFK/LAX/SFO. Spreads of 6-10%. You pay $10+ extra for no reason when Incheon ATMs are 15 minutes away.
Bill denominations in Korea
Korean won comes in 1,000, 5,000, 10,000 and 50,000 KRW banknotes (plus 100, 500 coins for change). ATMs typically dispense 10,000 and 50,000 notes. Small shops prefer smaller bills — break a 50,000 at a convenience store or ATM first visit.
Keep 5-10k notes separated for street food and markets. 50,000 notes for bigger hotel tips or emergency taxi fares.