The currency in Korea is the won. Korean bank notes are issued in only four denominations: 1,000 won, 5,000 won, 10,000 won and 50,000 won. To get around the lack of large bills, bank-issued checks (soo-pyo) are often used. These checks are not personalized and function much like cash, except that identification is required to spend them. There are also four coins: 500 won, 100 won, 50 won and 10 won.

Traveler’s checks are accepted at all charted banks. Foreign debit cards are not accepted. Some major banks have ATMS that accept international credit cards. Major foreign credit cards such as VISA, MasterCard and American Express are usually accepted at stores and hotels.