The Won Has Strengthened a Bit—Is Seoul Shopping Still a Bargain Right Now?
If you researched a Korea trip earlier this summer, you may have heard the won was at a historically favorable rate for shoppers. That "once-in-a-generation" discount has narrowed somewhat as the won has recovered a little in recent weeks. Checking the actual numbers before you open your wallet will help you plan a realistic budget.
At a glance: Reference date September 21, 2026, KRW/USD around 1,380 won / Compared with the June 2026 peak of 1,561 won (a roughly 180-won swing) / Real-world effect: buying a 100,000-won item took about $64.1 in June but about $72.5 now, roughly 13.1% more / Source: Seoul foreign exchange market rates, compiled from Korean media reports including Money Today.
The difference is real when you do the math. At June's rate of 1,561 won, a 100,000-won item cost about $64.1; at the September 21 rate of roughly 1,380 won, the same item costs about $72.5. That is more than 13% more in dollar terms for an identical purchase, so if you're going by trip reports from a couple of months ago that called Korea "unbeatably cheap," temper your expectations slightly.
Still, there's no need for pessimism. Foreign-customer sales at Lotte Department Store rose 80% (all stores) and 70% (flagship store) year-on-year between September 1-20, though that's a slower pace than July's 125% and 120% gains. Foreign transaction value at Musinsa Store Seongsu rose 16% in September compared with July, and cumulative foreign sales at department stores and Olive Young have already topped one trillion won. In short, Korea remains a relatively good place to shop compared with previous years — just don't expect spring-level fire-sale prices. It's wiser to exchange money in smaller amounts as you need it and compare card payment rates before making large purchases.