Costs, Currency, Credit Cards, and Tipping in South Korea
South Korea is an affordable country to travel in as a foreigner. While not as inexpensive as China or some countries in Southeast Asia, it is less expensive than Japan.
On our last tour, I found it relatively easy to eat and drink well for under $40 a day. I suggest budgeting $50-$70 per day, depending on your taste for souvenirs and beers at the ballpark.
At The Ballpark
KBO stadium policy permits outside food and drink, which can help keep costs down and options plentiful. However, that’s not necessary, as you’ll find the ballpark concessions to be very affordable.
Beers start at around $2, and you wouldn’t be able to spend more than $8 on a large, higher-end draft beer if you tried! Most ballparks have a convenience store for food and snacks in addition to more traditional concession stands, and none of them have the drastic in-stadium markup that American fans are accustomed to: food will cost you between about $5 and $15, and no more than $20.
Credit/Debit Cards
You can pay for larger purchases, such as nice meals or merchandise at the ballpark, with a card. However, smaller purchases at the ballpark and around town might be cash-only. Tap-pay via your phone or watch is not as common as it is in the U.S.
Not all Korean merchants may accept your credit card brand. Visa and Mastercard are the most widely accepted cards, while American Express is becoming more commonly accepted, but a number of vendors still do not accept it.
Although most major cards no longer require travel notices, check to see if you need to add one to your credit or debit card before your trip. You’ll also want to check if your card has any foreign transaction fees because if it does, you’ll want to use more cash.
Cash
Even if you plan to pay as much as possible by card, we recommend getting some won. There will be times when cash is necessary, such as for local transportation or street vendors. Get more cash than you think you’ll need; you can always exchange leftovers at the end of your trip.
There are a few ways to obtain won:
- Order won at your local bank. This typically needs to be done a few weeks in advance. It is convenient to arrive with won in hand, but what you gain in convenience, you lose in the rate, as your bank will not offer as favorable a rate as you typically can find on the ground.
- Exchange USD upon arrival. If your flight arrives late at night, the exchange windows at the airport may be closed. There are exchange shops in touristy areas and major transit hubs, such as Seoul Station, which is right near our hotel. Local banks can also likely exchange your cash during standard business hours.
- Use an ATM in Korea. Look for a machine that says “GLOBAL ATM” and that will likely work with your debit card. Unless your bank reimburses you for ATM fees or has a sister bank in South Korea, you will incur fees every time you withdraw won.
Tipping
South Korea does not have a prevalent tipping culture. Typically, if Koreans tip someone, it is before the service. For example, you could tip a bartender at the start of the night, as if to say, “take care of us tonight,” and they might give you free drinks and appetizers in addition to extra attentive service. But generally, there is no tipping, and it is never expected.
Tipping Your Tour Staff
Sometimes, our tour guests want to give something extra to our local Extra Innings Travel guides in recognition of a job well done. Our local guides receive fair compensation for their work. There is no pressure, expectation, or obligation to tip your local guides.
That said, you are welcome to tip them at the end of the tour. Around $20 is very reasonable, and about $50 is more than enough. If you feel compelled to give them more (or less), they will accept with gratitude.
If I, Shane Barclay, am with you on your tour, please don’t tip me – you’ve already compensated me with your tour purchase. If you feel compelled to acknowledge a tour well-run with your money, please direct those funds to our local guides or purchase a gift card for future tour credit or other merchandise from our online store.