The country has a reputation as a shoppers’ paradise, with many shops providing special duty free prices for foreigners. Fashion, antiques, medicine, herbs and spices, electronics and wedding clothes feature highly on Korea’s shopping itinerary. The best shopping districts and markets are in the capital, Seoul, and include:
Namdaemun (Korea’s largest general wholesale market);
Tongdaemun (one of Seoul’s oldest markets, good for bargains);
Myong-dong (Korea’s fashion district);
Insa-dong (antiques and art);
Changanp’yong (one of the largest
antiques markets in the Far East);
Itaewon (modern shopping district particularly popular with foreign tourists);
Noryargjin (fish market);
Yongsan Electronics Market (largest electronics and computer market in Korea);
Koyndang (Oriental medicine, spices and herbs market);
Hwangkhak-dong (flea market, good for second-hand shopping);
Ahyon-dong (the ‘wedding street’, featuring over 120 wedding boutiques); and
Shinch’on (a shopping street popular with young people, good for accessories and fashion).
Favorite buys to look for are hand-tailored clothes, sweaters (plain, embroidered or beaded), silks, brocades, handbags, leatherwork, gold jewelry, topaz, amethyst, amber, jade and silver, ginseng, paintings, costume dolls, musical instruments, brassware, lacquerware, woodcarvings, baskets, scrolls and screens. Prices are fixed in department stores, but may be negotiated in arcades and markets. Major cities have foreigners’ duty free shops where people can use foreign currency with a valid passport.
Shopping hours Mon-Sun 1030-2000.
Currency Information:CurrencyWon (KRW). Notes are in denominations of KRW10,000, 5,000 and 1,000. KRW1,000 is called
Chon Won in Korean (
chon means ‘one thousand’). Coins are in denominations of KRW500, 100, 50 and 10.
Currency ExchangeForeign banknotes and travelers cheques can be exchanged at foreign exchange banks and other authorized money changers.
Credit/Debit Cards and ATMsAmerican Express, Diners Club, MasterCard and Visa are widely accepted at major hotels, shops and restaurants in the larger cities. ATMs are available in all major cities, but all instructions are in Korean.
Traveller's ChequesAccepted, but may be difficult to change in smaller towns. To avoid additional exchange rate charges, travelers are advised to take traveller’s cheques in US Dollars.
Banking HoursMon-Fri 0900-1700.
Exchange Rate Indicators| Date | Apr 07 |
| £1.00= | KRW1,248.56 |
| $1.00= | KRW933.86 |
| €1.00= | KRW1,845.60 |
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