It’s a habit of mine to find the best money changer whenever we visit a country. Even if I’ve been there several times.
Whenever my wife and I are in Seoul, I always look at currency exchange rates. I compare different forex shops in different areas.
And here’s what I’ve discovered.
That street in Myeongdong where the Chinese Embassy is have always had the best money changer rates. Now this seems to be true for major worldwide and major Asian currencies. Not quite sure with minor currencies, which I suggest you avoid doing anyway.
How to Get to the Best Money Changer area in Front of the Chinese Embassy
1. Look for Myeongdong 2-gil on your GPS. That’s the street that has the best money changer rates. It’s in between two Namdaemun – ro streets. “ro” means diverging streets.
Use your GPS Your GPS is your best friend. Use it to the fullest.
2. The street is right across Lotte Young Plaza. It’s almost parallel to the main road. If you’re coming from the other side, just look for the KT Myeongdong building. You’ll see a lot of Forex Signs so you won’t miss it.
Get Even Better than Best Money Changer Rates
The most famous money changer shop is the one closest to the Chinese Embassy gate. We used to always go there. However, it doesn’t always yield the best money changer rate. Also, since it has become popular, it usually also has the longest queue. But there are many other forex shops along that street. You can take time to scout the other shops which are equally safe (we’ve tried several) and usually they have the same rates, or will only have a 1 won difference (which is very negligible).
If you’re looking at exchanging money here, add Myeongdong at the beginning of your trip. Myeongdong is also a good area to stay in, so consider finding accomodations here too.
That’s it! If you’re visual, watch the video for detailed instructions on how to get there.
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