Japanese Yen to Korean Won Rate 2026: Why 100 Yen No Longer Means 1,000 Won

Bottom line: If you budgeted your Korea trip in yen using 2023 exchange rates, redo the math. As of a private-market reference rate on October 25, 2026, 100 yen buys only around 843 won — more than 15% less than the May 2023 peak of roughly 1,001 won per 100 yen. Check the day's posted rate before you exchange any money.

If you didn't know: Bringing 100,000 yen and assuming the 2023 rate (100 yen = 1,001 won) gets you about 1,001,000 won is wrong. At the October 25, 2026 private reference rate (100 yen = 843.72 won, mid-market), it's only about 844,000 won — roughly 157,000 won, or 15.7%, less than in 2023. That gap is roughly the cost of one night at a mid-range Seoul hotel or a round-trip KTX ticket.

Around May 6, 2023, 100 yen briefly touched 1,001 won, a level people called "the 1,000-won yen era." That number was part of why Japan travel demand surged that year — a given amount of won bought unusually large amounts of yen. The trend has since reversed steadily. Hana Bank's posted rate had fallen to around 888 won per 100 yen by July 31, 2026, and the private reference rate slipped further to around 843 won by October 25. Exchange rates are reset by the Bank of Korea and commercial banks every business day, so the number can move again tomorrow. This matters most for Japanese travelers carrying yen to spend in Korea: if you planned your lodging and meal budget using 2023 figures, the won you can actually get is now more than 15% smaller. The flip side benefits travelers heading from Korea to Japan, since yen is now cheaper to buy. Whether at an Incheon Airport exchange counter or a city bank branch, check that day's posted rate and compare a few locations before exchanging.

This article summarizes exchange-rate information current as of the dates noted and is not legal, medical, or financial advice. Always verify the day's posted rate before exchanging money.

Journey stage: During the trip · Verified 2026-10-26 (rate figures as of 2026-10-25) · Source: The Kyunghyang Shinmun, xe.com