Location: South Korea
Great for: Singles, Couples, Families, Groups, Honeymoons, Budget Travelers
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I'm often asked how much it costs to travel to various destinations. Airfare aside, South Korea, with its stunning landscape, history, marvelous and vibrant palaces, and Buddhist monasteries is surprisingly affordable. Here is a brief breakdown of the currency and costs when visiting the country.
The Korean Republic Won (KRW) is the official currency of South Korea. The symbol for the Korean Won is ₩, and its ISO code is KRW. The currency is issued and regulated by the Bank of Korea, the country's central bank. South Korea has a well-developed financial sector, and the Won is widely used for all types of transactions in the country. In South Korea, both coins and bills are in circulation.
Coins are issued in various denominations, including ₩10, ₩50, ₩100, and ₩500, each with distinct designs. These coins are commonly used for small purchases like public transportation and vending machines.
Bills, on the other hand, come in denominations of ₩1,000, ₩5,000, ₩10,000, and ₩50,000, with each featuring different historical and cultural motifs. These banknotes are more commonly used for larger expenses, such as shopping, dining, and accommodation.
So now you know the currency but what does all that mean for you as a traveler? The cost of meals, museums, and hotels in South Korea can vary depending on the location and type of establishment. Here is basic information to help you navigate what sounds like a lot of money but really is a great deal.
On average, a meal at a local restaurant can cost between ₩7,000 to ₩15,000 per person, ($5.18 to $11.11) while dining at a mid-range restaurant may set you back ₩20,000 to ₩40,000 ($14.81 to $29.62) per person. If you're looking for a fine dining experience, you can expect to pay considerably more. If you want to save even more, try frequently the local street food vendors. Street vendors are tremendously popular and a great way to try local and regional food at a good price. Each area has specialties so try as many as you can in each city.
Here are some examples of popular South Korean street foods and their approximate costs:
Tteokbokki (spicy rice cakes): ₩3,000 to ₩5,000 ($2.22-$3.70)
Hotteok (sweet pancakes with a syrupy filling): ₩1,000 to ₩3,000 ($.74 - $2.22)
Odeng (fish cake skewers): ₩1,000 to ₩2,000 per skewer ($.74 - $1.48)
Kimbap (rice rolls with various fillings): ₩2,000 to ₩4,000 ($1.48 - $2.96)
Mandu (dumplings): ₩2,000 to ₩5,000 for a serving ($1.48 - $3.70)
Twigim (deep-fried snacks): ₩2,000 to ₩4,000 ($1.48 - $2.96)
Sundae (Korean blood sausage): ₩3,000 to ₩6,000 ($2.22 - $4.44)
Eomuk (fish cake) skewers: ₩1,000 to ₩3,000 per skewer ($.74 - $2.22)
Bungeoppang (fish-shaped pastries filled with sweet red bean paste or custard): ₩2,000 to ₩4,000 ($1.48 - $2.96)
Admission fees to museums and cultural sites can vary, but they are generally affordable, with average entrance fees ranging from Free to ₩15,000. ($0.00 to $11.11)
As for hotels, budget accommodations can start from ₩50,000 ($37.03) per night, mid-range 4-star options may cost between ₩100,000 and ₩200,000, ($74..05 to $148.11) while luxury 5-star hotels can go well beyond ₩300,000 ($222.16+) per night.
Keep in mind that these prices are approximate, and they can fluctuate based on what part of the city or the country you are visiting and the specific services or amenities offered. South Korea's thriving tourism industry ensures that you have a wide range selection when it comes to dining and accommodations, catering to various budgets and preferences.
A word about credit cards. Visa and Mastercard are widely accepted, American Express less so. Cash is needed for shopping at small, local restaurants, street food vendors, and shops.
ATMs are easily found outside banks, in major hotels, and in some convenience stores. Try to only use ATMs from Banks and better yet, plan ahead and bring it with you. Charge whatever you can on a travel credit card or one that has low conversion fees.
A convenient currency converter can be found at http://www.xe.com/currencyconverter/V or be sure to download one to your phone. As of this writing, one KRW is worth .00074 USD. This fluctuates daily so always check before you go.
Now you know about the currency and a few of the costs when traveling to South Korea. Seoul costs will be higher than Inchon and Busan with the smaller towns nearby being the most reasonable. You are now ready to visit this vibrant country of ancient and modern, skyscrapers and Buddhist temples, k-pop and k-dramas offering a host of experiences to anyone wanting to explore the multi-faceted country and culture that is South Korea.
At Vibrant Travel, we research, plan, and book vacations for busy travelers, couples, and groups looking for authentic experiences in Europe and beyond. We take the confusion of travel planning, the overwhelm of group organization, and hours of searching online off your plate and use our knowledge of the locations, vendors, and experiences to create a vacation you will love without the hassles, time, and stress of planning it yourself. Best of all we only work with vetted vendors who provide the highest quality services.
We specialize in select destinations that you might find on your bucket list; Ireland, Iceland, and Italy. But each year we create a group trip to bucket list destinations like Japan, Australia, Kenya, and South Africa to name a few.
The vacations we plan are the vacations we love to take ourselves so we can offer you experiences and places you may not have even considered but ones that will create memories that last forever.
Call today at 407-517-4744 to end the frustration of doing it all yourself. Ask about our group trips to Japan and South Korea.
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