Welcome back to our guide on navigating payment options in Korea’s traditional markets and street food stalls! In Part 1, we covered mobile payments through global apps and prepaid cards for foreigners. Now, let’s dive deeper into additional payment methods and practical advice for making the most of your market adventures.
Korean Mobile Payment Apps: Are They Worth It?
Korean mobile payment services like KakaoPay, Naver Pay, and Toss are incredibly popular among locals, but how accessible are they to foreign visitors?
Short-Term Visitors (Less than 90 days)
If you’re visiting briefly, setting up Korean mobile payment apps can be challenging because they typically require:
- A Korean phone number
- A Korean bank account or Korean credit card
- Sometimes a Korean Alien Registration Card
However, there are exceptions:
Kakao Pay for Foreigners
- Recently, Kakao Pay has begun allowing registration with some foreign phone numbers
- You can link certain foreign credit cards (primarily Visa and Mastercard)
- The interface has limited English support
- Look for the yellow Kakao Pay QR code at vendors
Naver Pay
- Similar to Kakao Pay but generally requires more Korean documentation
- Some visitors report success registering with passport information
Zero Pay
- A government-supported payment system
- Increasingly foreigner-friendly, with English interface options
- Accepts some international credit cards
Long-Term Visitors (90+ days)
If you’re staying longer and have an Alien Registration Card:
- Opening a Korean bank account becomes much easier
- Full access to Korean mobile payment apps becomes possible
- You can set up bank transfers, which we’ll discuss next
The Bank Transfer Option (“Gyejwŏ Iché”)
Bank transfers are a common alternative payment method in Korea when card payments aren’t available. While this method is more accessible to residents than tourists, it’s worth understanding:
How it works:
- The merchant provides their bank account number
- You transfer the exact amount via mobile banking or ATM
- You show confirmation of the transfer as proof of payment
For foreign visitors:
- This method typically requires a Korean bank account
- Some international banking apps can transfer to Korean accounts, but fees may apply
- If you have a Korean friend, they might help facilitate the transfer
Communication Tips for Market Shopping
When payment issues arise, these phrases might help:
- “Do you accept foreign credit cards?” – “외국 신용카드 되나요?” (oeguk shinyong kadŭ doenayo?)
- “Can I pay with Alipay/WeChat Pay?” – “알리페이/위챗페이 돼요?” (allipei/wichaetpei dwaeyo?)
- “Is there an ATM nearby?” – “근처에 ATM 있어요?” (geuncheoye ATM isseoyo?)
- “Can I do a bank transfer?” – “계좌 이체 가능해요?” (gyejwa iche ganŭnghaeyo?)
Practical Market Shopping Tips
Plan ahead:
- Carry some cash (₩10,000 and ₩50,000 notes are most useful)
- Download relevant payment apps before your trip
- Check if your traditional market destination accepts QR payments
- Consider getting a prepaid card at the airport upon arrival
At the market:
- Look for payment option stickers near the cash register
- Many vendors display accepted payment methods (cards, QR codes, specific apps)
- If one stall doesn’t accept your payment method, similar products can often be found at other stalls with different payment options
- Prices are often slightly lower for cash payments (a small discount of 3-5%)
Best markets for foreigners with digital payment options:
- Gwangjang Market (광장시장) in Seoul
- Namdaemun Market (남대문시장) in Seoul
- Jagalchi Fish Market (자갈치시장) in Busan
- Seomun Market (서문시장) in Daegu
- Dongmun Traditional Market (동문시장) in Jeju
The Future of Payments in Korean Markets
The Korean government is actively working to digitize traditional markets, with initiatives including:
- Expanding Zero Pay and standard QR code acceptance
- Increasing support for international payment platforms
- Encouraging vendors to adopt digital payment solutions through subsidies
This means that payment options for foreign visitors are continuously improving!
Final Thoughts
Don’t let payment concerns keep you from experiencing the vibrant culture and delicious foods of Korea’s traditional markets. With some preparation and the knowledge of alternative payment methods, you can navigate these situations with confidence.
Remember that even in the most traditional markets, vendors are increasingly adapting to accommodate international visitors. When all else fails, a friendly smile and willingness to work through communication barriers can go a long way.
Have you encountered any unique payment situations in Korean markets? Share your experiences and tips in the comments below!
This guide was last updated: May 2025
