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Changing Korean won back to foreign currency when you leave: limits and documents
Numbers checked against the official source on 2026-10-19
A visitor can change leftover won back into foreign currency only up to the amount they exchanged into won during this stay; if there is no such record, up to US$10,000. At a licensed money changer you hand in a reconversion form, the foreign exchange purchase certificate from your first exchange, and your passport. Foreigners who count as residents (engaged in business in Korea, or staying six months or more) have a different cap: banks may sell them foreign currency up to US$10,000 since their latest entry.
Can I change won back when I leave Korea?
Yes, within limits written in the Foreign Exchange Transactions Regulation (a Ministry of Finance and Economy notice, in force from 2026-09-16 and read on 2026-10-19). This is a rule for banks and licensed money changers, so a counter that applies it strictly may refuse a larger amount or ask for papers you do not have. It is not legal or tax advice; if you are unsure, ask the bank or changer before the day of departure, and for immigration status questions call 1345.
Visitor (non-resident) limits
The regulation lets a bank sell foreign currency to a non-resident in these cases (the ones relevant to a trip):
- Within what you exchanged into won this stay. The cap is the amount the non-resident sold, for won, to a foreign exchange bank or a licensed money changer during the stay since the latest entry date.
- No such record: up to US$10,000.
- Foreign-issued card: if a non-resident with a foreign credit or debit card took a won cash advance or withdrew won in Korea, the amount of that cash advance or withdrawal.
- Payments abroad for recognised transactions, or amounts within the limits of Article 4-4, are separate cases and are not covered here.
When a bank sells foreign currency under either US$10,000 rule (the visitor with no record, or the resident foreigner), it must write the amount sold in the customer's passport, except when the foreign currency sold is worth KRW 1,000,000 or less.
Licensed money changer (환전영업자): documents and daily limit
Licensed money changers may reconvert in only two situations: for a non-resident, up to the foreign currency they sold for won during the stay since the latest entry date; or, for a non-resident or resident foreigner, amounts won or left unused at that changer's own casino. The changer must take these documents:
- A reconversion application form (a standard form in the regulation's annex).
- The foreign exchange purchase certificate, which the changer or bank gives you once when it buys your foreign currency. Keep it; a bank may give a receipt or statement as proof of the purchase instead.
- Your passport. Diplomats and consuls, foreigners entering on official business for a foreign government or international organisation, and US forces personnel may show an ID card or alien registration card in addition to the passport, according to the regulation.
Small amounts need no paperwork: a money changer may buy or sell up to US$2,000 per person per day (US$4,000 for a changer that keeps its exchange ledger on a computer system) without the sale application form and the purchase certificate. Unmanned exchange machines and online changers are also capped at US$2,000 per person per day, or US$4,000 under the same ledger condition.
Resident foreigners: different rule
The Enforcement Decree treats a foreigner as a resident if they are engaged in business activity in Korea or have stayed in Korea for six months or more (diplomats, foreign-government or international-organisation officials and US forces personnel are excluded and count as non-residents). If you are an employee, ask the bank whether it treats you as a resident. For these resident foreigners, a bank may sell foreign currency when the amount since the latest entry date is US$10,000 or less, or within the range set by Article 4-4 of the regulation. For larger amounts the regulation points to separate reporting rules (for example the proceeds of selling property), which are outside this page.
| Who | Rule in the regulation |
|---|---|
| Visitor (non-resident) | Up to what you sold for won this stay; with no such record, up to US$10,000; or the amount of a won cash advance or withdrawal on a foreign card |
| Resident foreigner | Up to US$10,000 since the latest entry date, or within the Article 4-4 range |
| Licensed money changer, any customer | Up to US$2,000 a day without forms (US$4,000 with a computerised ledger); more only with the form, the certificate and your passport |
What to do before you leave
- When you first change money, keep the exchange receipt and the foreign exchange purchase certificate. A visitor's cap is built from these records.
- Change back only what you really need. If you will carry more than US$10,000 in cash, read our cash declaration page.
- If you want to move money rather than carry it, see sending money abroad from Korea.
Source: Foreign Exchange Transactions Regulation (외국환거래규정), Ministry of Finance and Economy notice no. 2026-103, in force 2026-09-16; Enforcement Decree of the Foreign Exchange Transactions Act Article 10, in force 2026-04-28. Read on 2026-10-19. The text read is the consolidated version in force on that date. Not covered: bank fees and rates, airport counter practice, rules for amounts above the caps, and the Bank of Korea pages (its site blocks automatic access).
Official sources
- Foreign Exchange Transactions Regulation (외국환거래규정), law.go.kr — Articles 2-2, 2-3 and 2-29: bank purchases, bank sales to non-residents and residents, money changer reconversion and daily limits; Ministry of Finance and Economy notice no. 2026-103, in force 2026-09-16 (checked 2026-10-19)
- Enforcement Decree of the Foreign Exchange Transactions Act, Article 10 (law.go.kr) — who counts as a resident or non-resident; in force 2026-04-28 (checked 2026-10-19)
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