How to Pay in Korean Traditional Markets When You Don’t Have Cash (Part 1)

As a foreign visitor to South Korea, you’ve probably heard about the country’s advanced digital payment infrastructure. And yes, your foreign credit cards will work perfectly fine at most hotels, department stores, and major establishments. But what happens when you find yourself captivated by the enticing aromas of a traditional market (시장, sijang) or street food stall, only to be met with the dreaded words: “현금만 가능합니다” (Cash only)?

Don’t worry! This two-part guide will help you navigate payment options in Korean traditional markets and small shops where international credit cards might not be accepted.

The Cash-Only Culture in Traditional Markets

While South Korea is advancing rapidly in digital payments, many traditional markets, food stalls, and small local businesses still operate on a cash-first basis. This is particularly true in:

• Street food carts (포장마차, pojangmacha)
• Traditional market stalls (시장 노점, sijang nojeom)
• Rural areas and small towns
• Small family-run shops in older neighborhoods

When Your Foreign Credit Card Doesn’t Work

Foreign visitors often face two common payment challenges:

1. The merchant doesn’t accept credit cards at all – Many small vendors lack card terminals due to transaction fees and setup costs
2. Your foreign card isn’t accepted – Some older POS systems may only work with domestic Korean cards

Alternative Payment Methods for Foreign Visitors

1. Mobile Payments through Global Apps: The QR Code System Explained

The good news is that Korea has implemented a standardized QR code system that connects with many international payment apps! This is perhaps the easiest solution for foreign visitors without a Korean bank account.

Understanding Korea’s Standardized QR Code System:

Korea’s integrated QR payment system is primarily built on the “Zero Pay” platform, a government-backed initiative designed to reduce transaction fees for small merchants while making payments more accessible for everyone—including foreign visitors.

How it works:

1. Merchants display a standard QR code at their stall or register
2. This QR code is universally compatible with multiple payment apps
3. You scan the QR code using your preferred payment app from your home country
4. Enter the amount to pay (sometimes the merchant will input this instead)
5. Confirm the payment on your phone
6. The merchant receives instant confirmation of your payment

Where to find these QR codes:

• Available in 65+ traditional markets and over 12,000 small businesses across Korea (including Jeju Island)
• Look for stalls displaying signs with “Zero Pay” logo or multiple payment app logos
• Common in tourist-friendly markets in Seoul, Busan, and Jeju Island
• Increasingly found at street food stalls in popular areas

Compatible international payment apps include:

• Alipay (popular with Chinese visitors)
• WeChat Pay (popular with Chinese visitors)
• UnionPay mobile app
• Merpay (popular with Japanese visitors)
• PayPay (popular with Japanese visitors)
• NETS (popular with Singaporean visitors)
• Rabbit Line Pay (popular with Thai visitors)
• And 10+ other global mobile payment systems

No need to download a Korean app or create a Korean account—simply use the payment app you’re already familiar with from home. Most merchants with these QR codes will have a sign displaying all the compatible payment apps, so you can easily check if your preferred app is accepted.

2. Prepaid Cards for Foreigners

Several prepaid card options are specifically designed for foreign visitors:

WOW Pass: The All-in-One Tourist Card

• What it is: A specialized prepaid card designed specifically for foreign visitors to Korea
• Where to get it:
  • Incheon and Gimpo International Airports (look for the WOW Pass kiosks)
  • Major tourist hotels in Seoul, Busan, and Jeju
  • Selected subway stations (Seoul Station, Hongdae, Myeongdong, Gangnam)
  • Online pre-order via the WOW Pass website before your trip
• Loading options:
  • Can be loaded with 14 different currencies including USD, EUR, JPY, CNY, GBP
  • Currency is automatically converted to Korean Won at competitive exchange rates
  • Initial minimum load amount: ₩50,000 (approximately $40 USD)
  • Maximum load amount: ₩2,000,000 (approximately $1,600 USD)
• Fees and benefits:
  • One-time card issuance fee: ₩4,000 (approximately $3 USD)
  • No transaction fees when using the card
  • Offers discounts at selected tourist attractions and duty-free shops
  • Remaining balance can be refunded in your original currency when leaving Korea
• Usage:
  • Works at most payment terminals throughout Korea (look for the “BC Card” logo)
  • Doubles as a transportation card for subways, buses, and taxis
  • Compatible with all convenience stores, most restaurants, and many traditional market vendors
  • Can be reloaded at convenience stores (GS25, CU, 7-Eleven)
  • No Korean bank account or personal identification number required
  • Card validity: 3 years from activation

The WOW Pass even comes with a companion mobile app (available in 8 languages) that tracks your spending, shows your current balance, and helps locate nearby WOW Pass-accepting merchants.

T-Money or Cashbee Cards

• Available at convenience stores and subway stations
• Originally designed as transportation cards but accepted at many small shops
• Can be reloaded at convenience stores

3. Cash is Still King

When all else fails:

• Find an ATM that accepts foreign cards – Look for “Global ATM” signs or machines at major banks like Shinhan, KEB Hana, or Woori Bank
• Many traditional markets have ATMs near their entrances
• Convenience stores like CU, GS25, and 7-Eleven often have ATMs that accept international cards

Travel Tip: Korean Bank Account Not Required!

Many foreign visitors worry they need a Korean bank account to shop at traditional markets. This isn’t true! With the options above, you can enjoy everything from tteokbokki (spicy rice cakes) to handmade crafts without opening a local account.

In Part 2 of this guide, we’ll explore more payment options including local mobile payment apps that are becoming increasingly accessible to foreign visitors, how to handle bank transfers if you’re staying longer in Korea, and tips for budgeting cash during your visit to Korea’s traditional markets. Stay tuned!

Have you tried any of these payment methods in Korean markets? Share your experience in the comments below!