Time Difference / Business Hours

Korean time is 9 hours ahead of Greenwich Mean Time (GMT+9). Business hours for banks are generally from 09:30 to 16:30 on weekdays only. Banks are closed on Saturdays, Sundays and public holidays. ATMs are widely available. Major department stores are open from 10:30 to 19:30, including Sundays, but smaller shops tend to open earlier and close later every day.

Currency

The unit of Korean currency is the Won (￦/KRW). Coin denominations are ￦10, ￦50, ￦100 and ￦500. Banknotes are ￦1,000, ￦5,000, ￦10,000 and ￦50,000. Currency exchange: Foreign banknotes and traveler's check can be exchanged at foreign exchange banks and other authorized moneychangers.

Credit Cards

Diners Club, Visa, American Express and MasterCard are widely accepted at major hotels, shops and restaurants in the larger cities. Check with your credit card company for details of merchant acceptability and other services which may be available.

Traveler’s Checks

Accepted, but may be difficult to change in smaller towns. To avoid additional exchange rate charges, travelers are advised to take Traveler's check in US Dollars. The exchange of foreign currencies may be made at Incheon International Airport.

Tax

Value-added tax (VAT) is levied on most goods and services at a standard rate of 10% and is included in the retail price. In tourist hotels, this 10% tax applies to meals and other services and is added into the bill.

Gratuities (Tipping)

Tipping is not a traditional custom in Korea. A 10% service charge will be added to your bill at all tourist restaurants and hotels. It is also not necessary to tip a taxi driver unless he assists you with luggage or provides an extra service.

Electricity

In Korea, electrical outlets are operated at 220 V / 60 Hz only. Overseas delegates bringing laptop computers and other electrical appliances are advised to check whether a transformer is required.

For more information about Korea, Please visit the ⇒Korea Tourism Organization.