USD to Won Converter US Dollar to South Korean Won Calculator
South Korea is one of the world's most adaptable economies, a top destination for tourists drawn to K-culture, and a major trading partner of the United States. Whether you are planning a trip to Seoul, managing investments in Korean markets, paying for Korean goods, or sending money to family, you convert between US Dollars (USD) and South Korean Won (KRW). This free tool gives you instant conversions along with everything you know about the exchange rate.
USD to KRW Converter Tool
How to Convert USD to Korean Won
Converting US Dollars to South Korean Won is straightforward multiplication. Take the Dollar amount and multiply by the current exchange rate. With a rate of approximately 1,380 KRW per 1 USD:
- Formula (USD to KRW): Amount in USD x 1,380 = Amount in KRW
- Formula (KRW to USD): Amount in KRW / 1,380 = Amount in USD
For example, if you know how much 500 US Dollars is in Korean Won, multiply 500 by 1,380. The answer is 690,000 KRW. Going the other direction, if something costs 50,000 Won, divide by 1,380 to get approximately $36.23 USD.
Quick mental math trick
For rough mental conversions, divide Won prices by 1,400 (close enough to the actual rate). So a 14,000 Won meal is about $10, a 70,000 Won hotel is about $50, and a 1,400,000 Won item is about $1,000. This shortcut works well for quick price comparisons while shopping or dining in South Korea.
Current USD to KRW Exchange Rate
As of March 2026, the approximate mid-market exchange rate is 1 USD = 1,380 KRW. One US Dollar buys approximately 1,380 South Korean Won.
Rate snapshot (March 2026)
| Pair | Rate |
|---|---|
| 1 USD to KRW | &;1,380 |
| 1 KRW to USD | $0.000725 |
| $10 to KRW | &;13,800 |
| $100 to KRW | &;138,000 |
| $1,000 to KRW | &;1,380,000 |
| $10,000 to KRW | &;13,800,000 |
The Korean Won tends to be more stable than many emerging market currencies because South Korea has strong economic fundamentals, substantial foreign exchange reserves, and a credible central bank. However, the Won still moves meaningfully in response to global risk sentiment, US Dollar strength, and trade dynamics. In recent years, the rate has traded in a range between roughly 1,200 and 1,450 KRW per Dollar.
Historical USD/KRW Exchange Rates
The Korean Won's history against the Dollar reflects South Korea's transformation from a developing economy to one of the world's most modern industrial nations.
| Year | Approximate USD/KRW Rate | Notes |
|---|---|---|
| 1997 | 950-1,700 | Asian Financial Crisis; Won crashed dramatically |
| 2008 | 1,100-1,500 | Global Financial Crisis; Won weakened sharply |
| 2015 | 1,131 | Relatively stable period |
| 2016 | 1,161 | Modest Dollar strengthening |
| 2017 | 1,130 | Won strengthened with strong exports |
| 2018 | 1,100 | Trade tensions begin affecting sentiment |
| 2019 | 1,166 | US-China trade war impacts Asian currencies |
| 2020 | 1,180 | COVID-19 shock then recovery |
| 2021 | 1,144 | Strong export-driven recovery |
| 2022 | 1,292 | US rate hikes drive Dollar higher; Won weakens |
| 2026 | 1,305 | Stabilization as rate hike cycle peaks |
| 2026 | 1,350 | Dollar remains firm; Korean rates stay lower |
| 2026 (est.) | 1,380 | Current approximate rate |
The 1997 Asian Financial Crisis
The most dramatic event in the Won's history was the 1997 Asian Financial Crisis. The Won plunged from about 950 per Dollar to over 1,700 in weeks. South Korea accepted a $58 billion IMF bailout, the largest at that time. The crisis led to major structural reforms in the financial system, corporate governance, and economic policies. Koreans refer to this as the "IMF Crisis" and it remains a defining economic memory.
The 2008 Global Financial Crisis
During 2008, the Won weakened from about 1,000 to nearly 1,500 per Dollar. South Korea's response was faster than in 1997. The central bank used reserves effectively and the currency recovered more quickly. This reinforced the Bank of Korea's commitment to maintaining large foreign exchange reserves as a buffer against future crises.
Recent movements (2022-2026)
The Won weakened from about 1,200 to over 1,400 between 2022 and 2026, primarily driven by US Federal Reserve rate hikes that strengthened the Dollar globally. South Korea's rates stayed below US levels, creating a differential that favored the Dollar. As of 2026, the Won has found relative stability in the 1,350-1,400 range.
Economic Factors Affecting the Won
Several key factors drive the Korean Won's value against the US Dollar.
US Dollar strength
The Won tends to weaken when the Dollar strengthens globally. US Federal Reserve interest rate decisions are the primary driver. When the Fed raises rates, capital flows toward US assets, strengthening the Dollar and weakening the Won. The interest rate gap between the US and South Korea is one of the most important factors.
Export performance
South Korea is a major export economy. Semiconductors, automobiles, electronics, ships, and petrochemicals are key exports. When exports are strong, more foreign currency flows in, supporting the Won. Samsung Electronics alone accounts for a significant portion of Korean exports. The global semiconductor cycle is closely linked to Won movements.
China's economy
China is South Korea's largest trading partner, accounting for roughly 25% of exports. When China grows strongly, demand for Korean goods rises, supporting the Won. When China slows, Korean exports decline and the Won weakens. This makes the Won unusually sensitive to Chinese economic data.
Risk sentiment
The Won is a "high-beta" Asian currency, moving more than peers in response to global risk sentiment. When investors feel confident, they invest in Korean assets, supporting the Won. When fear rises, money flows out and the Won weakens.
Bank of Korea policy
The Bank of Korea (BOK) sets monetary policy and intervenes in currency markets to limit excessive volatility. The BOK's foreign exchange reserves (over $400 billion) give it substantial intervention firepower.
Geopolitical factors
North Korean tensions can occasionally affect the Won, though impact has diminished as markets have become accustomed to periodic escalations. Major events can cause short-term volatility but effects are usually temporary.
Quick Reference Conversion Table
Approximate conversions based on 1,380 KRW per 1 USD.
| USD | KRW | KRW | USD | |
|---|---|---|---|---|
| $1 | &;1,380 | &;1,000 | $0.72 | |
| $5 | &;6,900 | &;5,000 | $3.62 | |
| $10 | &;13,800 | &;10,000 | $7.25 | |
| $25 | &;34,500 | &;50,000 | $36.23 | |
| $50 | &;69,000 | &;100,000 | $72.46 | |
| $100 | &;138,000 | &;500,000 | $362.32 | |
| $250 | &;345,000 | &;1,000,000 | $724.64 | |
| $500 | &;690,000 | &;5,000,000 | $3,623.19 | |
| $1,000 | &;1,380,000 | &;10,000,000 | $7,246.38 | |
| $5,000 | &;6,900,000 | &;50,000,000 | $36,231.88 | |
| $10,000 | &;13,800,000 | &;100,000,000 | $72,463.77 |
Travel Tips for South Korea
South Korea has become one of Asia's hottest tourist destinations, fueled by K-pop, K-drama, and Korean food. Here is practical guidance for handling money.
Best ways to get Korean Won
- ATMs: Global ATMs at convenience stores (CU, GS25, 7-Eleven) and bank branches accept international cards. Most dispense Won.
- Money changers in Seoul: The best rates are at licensed changers in Myeongdong, Dongdaemun, and Itaewon. No commission; margin into rate.
- Banks: KEB Hana, Shinhan, and Woori offer dependable exchange. Rates are fair but not as competitive as specialized changers.
- Incheon Airport: Rates are 2-4% worse than city rates. Exchange only what you need for transport to the city.
Using cards in South Korea
South Korea is one of the most cashless societies in the world. Cards are accepted almost everywhere, from department stores to street food stalls. Visa and Mastercard work universally. Many Koreans use Samsung Pay and Kakao Pay. Apple Pay is increasingly accepted.
T-money card
The T-money card is a rechargeable transit card for subways, buses, taxis, and convenience stores. Buy one at any convenience store or subway station for about 2,500 KRW and recharge as needed. It saves about 100 Won per ride compared to cash.
Tipping in South Korea
- Restaurants: Tipping is NOT expected or customary. Leaving a tip can cause confusion.
- Taxis: No tip expected. The metered fare is the full price.
- Hotels: Not standard. International hotels may have staff accustomed to tips from foreign guests.
- Delivery: No tipping for food delivery or other services.
Shopping and VAT refunds
Foreign tourists spending over 15,000 KRW (roughly $11 USD) at tax-free stores can claim a VAT refund of about 10% at the airport. Look for "Tax Free" signs. Keep receipts and present them at airport refund counters before checking in.
Cost of Living South Korea vs United States
South Korea's costs vary significantly by category. Some things are much cheaper than the US while others are comparable.
| Item | South Korea (KRW) | South Korea (USD equiv.) | US Average (USD) |
|---|---|---|---|
| Bibimbap at local restaurant | 9,000-13,000 KRW | $6.52-$9.42 | $15-$20 |
| Korean BBQ for two | 40,000-70,000 KRW | $28.99-$50.72 | $50-$80 |
| Americano coffee | 4,500-6,000 KRW | $3.26-$4.35 | $4-$6 |
| Beer at bar (500ml) | 5,000-8,000 KRW | $3.62-$5.80 | $6-$9 |
| Subway ride (Seoul) | 1,400 KRW | $1.01 | $2.75-$3.50 |
| Monthly rent (1BR, Seoul center) | 800,000-1,500,000 KRW | $580-$1,087 | $2,000-$3,500 |
| Monthly rent (1BR, Seoul outskirts) | 500,000-800,000 KRW | $362-$580 | $1,200-$2,000 |
| Movie ticket | 13,000-15,000 KRW | $9.42-$10.87 | $12-$18 |
| Gym membership (monthly) | 50,000-100,000 KRW | $36-$72 | $30-$80 |
| Convenience store meal | 3,000-5,000 KRW | $2.17-$3.62 | $5-$8 |
The biggest savings come from local food, public transport, and healthcare. Housing in central Seoul is expensive but still cheaper than New York or San Francisco. Imported Western goods carry premium prices.
The jeonse deposit system
South Korea has a unique rental system called "jeonse" where tenants pay a large deposit (50-80% of property value) instead of monthly rent. The landlord invests the deposit and returns it at lease end. Short-term visitors use the monthly "wolse" system, but understanding jeonse helps explain Korean housing economics and why many Koreans have significant capital tied up in housing deposits.
Wire Transfers and Sending Money
South Korea's well-developed financial system makes international transfers relatively straightforward.
Online transfer services
- Wise: Best exchange rates for USD to KRW. Low transparent fees. 1-2 business day delivery.
- OFX: Good for larger transfers over $1,000. Competitive rates with no transfer fees.
- Remitly: Competitive for smaller amounts with fast delivery options.
- PayPal/Xoom: Convenient if you have PayPal, though rates may not be the best.
Bank wire transfers
Traditional SWIFT transfers work well between US and Korean banks (KEB Hana, Shinhan, Woori, KB Kookmin). Fees are $25-50 from the US side. Processing takes 2-4 business days. Good for large sums where documentation is important.
Korean bank accounts for foreigners
Foreigners with an Alien Registration Card (ARC) can open accounts at most banks. Without an ARC, some banks allow passport-only accounts with limited features. KEB Hana and Shinhan are particularly foreigner-friendly with English-speaking staff.
Tips for saving on transfers
- Compare total cost (fee plus exchange rate markup) across at least 3 services
- Send larger amounts less frequently to reduce per-transaction fees
- Avoid weekend transfers when spreads may be wider
- Set up rate alerts to transfer when the USD/KRW rate is favorable
- Consider forward contracts for planned future transfers
The South Korean Economy
South Korea's economic story is one of the most remarkable in modern history, transforming from one of the world's poorest countries to a top-15 global economy in just decades.
Key economic indicators
- GDP: Approximately $1.7 trillion (nominal), 12th-13th largest globally
- GDP per capita: About $33,000, comparable to Southern European countries
- Population: Around 52 million
- Major exports: Semiconductors (Samsung, SK Hynix), automobiles (Hyundai, Kia), electronics, ships
- Major trading partners: China (largest), United States, Japan, Vietnam
The role of chaebols
South Korea's economy is dominated by large family-controlled conglomerates called chaebols. Samsung, Hyundai, SK, LG, and Lotte are the largest. Samsung alone accounts for about 20% of GDP. These conglomerates drive exports, investment, and employment. Their performance directly affects the Won through export earnings.
US-Korea economic relationship
The United States is South Korea's second-largest trading partner. The KORUS free trade agreement has deepened ties. Bilateral trade exceeds $150 billion annually. US military presence (approximately 28,500 troops) also creates economic connections. This strong relationship supports the Won through trade and investment flows.
Semiconductor industry
South Korea leads globally in semiconductor manufacturing, particularly memory chips. Samsung and SK Hynix control over 70% of the global DRAM market. The semiconductor cycle significantly impacts the Won. When the chip market is strong, export revenue surges and the Won strengthens. When demand weakens, the opposite occurs.
Payment Methods in South Korea
South Korea is one of the world's most digitally modern countries for payments.
Credit and debit cards
Card acceptance is near universal. Even small street food vendors and taxi drivers accept cards. Visa and Mastercard are accepted everywhere. South Koreans use cards for over 70% of consumer transactions, among the highest rates worldwide.
Mobile payments
Samsung Pay (works with any card terminal via MST technology), Kakao Pay (linked to Korea's dominant messaging app), and Naver Pay are the most popular platforms. Apple Pay is increasingly accepted. Many restaurants and shops accept QR code payments.
Cash
While Korea is very card-friendly, carry some cash for traditional markets (Namdaemun, Gwangjang), some smaller restaurants, and certain situations. Having 50,000-100,000 KRW ($36-$72) as backup is good practice.
Foreign transaction fees
US credit cards in South Korea may charge 1-3% foreign transaction fees. Cards with no foreign transaction fees (Chase Sapphire, Capital One Venture, etc.) save money on every purchase. Card exchange rates are typically very close to mid-market, making card payments often better than cash exchange.
Korean Culture and Money Etiquette
Understanding Korean cultural norms around money helps you navigate social situations during your visit.
Splitting bills
In Korean dining culture, it is common for one person to pay the entire bill rather than splitting it. Usually the oldest person or the person who invited pays. Trying to split the bill evenly among a group (as Americans often do) can feel awkward in a Korean context. If you are treated to a meal, the expectation is that you will reciprocate at a future meal.
Gift giving
Gift giving is important in Korean culture, especially during holidays like Chuseok (harvest festival) and Seollal (Lunar New Year). Cash gifts in envelopes are common for weddings, funerals, and certain celebrations. The amount depends on your relationship with the recipient. For weddings, 50,000-100,000 KRW is typical for acquaintances, more for close friends and family.
Haggling
Unlike many Asian countries, haggling is not common in South Korea. Prices are generally fixed in stores, restaurants, and most markets. The exceptions are Namdaemun Market and some tourist-oriented shops where moderate negotiation may be possible. In general, accept the posted price.
Receipts and taxes
South Korea has a 10% VAT that is almost always included in the displayed price. Receipts are issued automatically for card payments. For cash purchases, you may ask for a receipt. Keep receipts for tax-free shopping refunds at the airport.
Common Mistakes When Exchanging Won
Exchanging all money at the airport
Incheon Airport rates are 2-4% worse than city rates. Exchange only enough for transport (30,000-50,000 KRW), then get the rest at a Myeongdong or Dongdaemun money changer.
Not using a no-fee credit card
A 3% foreign transaction fee on every purchase adds up fast. Getting a travel credit card before your trip saves real money. The application process takes 1-2 weeks.
Accepting adaptable currency conversion
When paying by card, always choose Won, not Dollars. Choosing Dollars (DCC) lets the merchant's bank set the rate, which is typically 3-7% worse. This is the single easiest way to save money.
Confusion with large numbers
Because 1 USD equals roughly 1,380 KRW, prices involve large numbers. A 15,000 Won meal is about $10.87, not $150. Quick trick: divide by 1,400 for a rough Dollar estimate.
Exchanging too many small amounts
Each transaction may include minimum fees or less favorable rates for small amounts. Exchange enough for several days at once rather than $20 at a time.
Frequently Asked Questions
What is the Won symbol?
The Korean Won uses the symbol &; (a W with two horizontal strokes). The ISO code is KRW. In Korean, the Hangul character "won" appears after numbers.
Is South Korea expensive for tourists?
Moderately priced. Local food and transport are notably cheaper than the US. A mid-range daily budget of $80-120 covers accommodation, food, transport, and attractions comfortably.
How much cash should I bring?
Because cards work almost everywhere, $200-300 in USD to exchange is sufficient. Supplement with ATM withdrawals as needed. Use a no-fee credit card for most spending.
Can I use Japanese Yen in South Korea?
No, you need Korean Won. You can exchange Yen for Won at banks and exchange offices in South Korea. Some Myeongdong changers offer competitive Yen-to-Won rates.
Why does the Won have so many zeros?
Large numbers reflect historical inflation. Some countries address this through redenomination, but South Korea has not. Discussions about creating a "new Won" worth 1,000 current Won periodically surface but no change has been made.
Is it better to exchange in the US or Korea?
Almost always better in Korea. US banks offer poor rates for Won. Seoul money changers offer rates very close to mid-market. The exception is online services like Wise which may be competitive.
What are Korean Won notes made of?
The 1,000, 5,000, and 10,000 Won notes are cotton-based paper. The 50,000 Won note (introduced 2009) is polymer. The 50,000 note features Shin Saimdang, a noted Joseon Dynasty artist, making it one of few banknotes worldwide featuring a woman.
Can I take Korean Won out of the country?
You can take up to the equivalent of $10,000 USD in Won out of South Korea without declaration. Amounts exceeding this must be declared at customs.
Related Currency Tools
References and Sources
- Bank of Korea (BOK) - Official monetary policy, exchange rate data, and economic statistics
- South Korean Won - Wikipedia - History, denominations, and background
- World Bank - South Korea Data - Economic indicators and analytical reports
Browser compatibility
This converter works in all modern browsers: