Are prices high in South Korea? What payment methods are available in South Korea?

When traveling to South Korea, you need to know whether the local voltage can be used for electrical equipment, as well as the local prices and payment methods. After all, you will most likely go to buybuy when traveling to South Korea, so you can check out the payment situation.

Electrical Equipment

The voltage in South Korea is the same as in China, 220V, with 2-hole round sockets. Before going abroad, it is recommended that you confirm whether the electrical appliances you use comply with international voltage standards. An electrical safety incident occurred at home. If the voltage is OK, you can use an adapter plug when charging. If you are not ready, you can borrow it from the front desk, but some hotels charge rent.

Prices in South Korea

Generally speaking, prices in South Korea are relatively high, especially for agricultural and sideline products. However, the prices of electronic products and cosmetics are relatively reasonable, and some are even more expensive than in China. The price of a 500ml bottle of mineral water is about 6 yuan, the starting price of a taxi in Seoul is about 13 yuan, and a McDonald's Big Mac meal is 32 yuan.

Payment methods

UnionPay cards and VISA cards can be used to withdraw cash directly through ATM cards in South Korea. You can withdraw cash from any ATM machine with the UnionPay logo. UnionPay cards can be used to withdraw cash at Union Bank, Hana Bank, Foreign Exchange Bank and IBK Bank. However, the regulations of each bank are different, with a maximum of 1 million won per transaction, a maximum of 10 million won per day, and a handling fee of 15 yuan per transaction. Use the exchange rate published by the Bank of China. In addition to this kind of cash withdrawal, there are many money exchange offices in South Korea, so you don’t have to worry about changing money at all. In addition, downloading Alipay and WeChat have become popular in Seoul, so some convenience stores and stores can use Alipay, and there will be discounts, and you can exchange money directly, which is very convenient.

Currency exchange

Arrival at the airport. Although there are places to change money inside the airport, it is still not cost-effective. You can temporarily exchange money for meals and public transport on the day. You can exchange for a higher exchange rate while waiting in Seoul, or you can directly use your UnionPay card to withdraw money from an ATM. What you get is won. The exchange rate is close to Myeongdong Money Exchange Office, and the handling fee is about 15 yuan per transaction. The most cost-effective way to spend money in South Korea is to exchange cash for won, followed by UnionPay cards. It is recommended that you bring a visa card, especially a platinum visa card, to enjoy many discounts during the duty-free shop discount period.