Won at 1,356: Why Now Is the Time for K-Shopping
Checking an exchange-rate app at a duty-free checkout counter, a traveler smiles. With the won sliding to around 1,356 per dollar, the same 100 dollars converts into more won in hand than it did a month ago.
At a glance: As of September 25, the exchange rate stood at 1,356.18 won per dollar (about 2% stronger than a month earlier) · Olive Young's foreign-customer transactions hit 11.01 million from January through August, blowing past its annual 1-trillion-won target by August · When paying by card, check which currency you're being charged in before you confirm.
The won has strengthened roughly 2% against the dollar over the past month. For a traveler, a stronger won technically means your dollars, yen, or yuan buy a bit less than before — which sounds like bad news, but it isn't really. Paying by card or a travel debit card at the real-time exchange rate tends to work out better than cash exchanged before the trip, especially while rates are moving around like this.
Foreign spending shows up in the numbers, too. Olive Young reported 11.01 million foreign-customer transactions between January and August this year, already surpassing its full-year target of 1 trillion won by August. Industry sources say the same pattern — a steadily rising foreign share of sales — is showing up in department store duty-free counters as well as beauty retailers.
Two things are worth checking. First, if a store terminal defaults to charging your card in your home currency (Dynamic Currency Conversion, or DCC), you'll pay a markup on the exchange rate — always select "local currency (KRW)" on the payment screen instead. Second, at stores that offer a tax refund, keep every receipt and process them at an airport refund kiosk before you leave; otherwise you won't fully capture the benefit of the stronger won.