No more Scandinavian currencies in major Korean banks

It is no longer possible for Koreans to buy Scandinavian currencies at their local banks when traveling to Scandinavia. Previously, the largest banks allowed exchanges into Danish, Norwegian, and Swedish kroner — for example, when departing from Incheon Airport in Seoul. This was terminated in June, 2025.

The reason is that the Scandinavian countries are among the most cashless societies in the world. All you need is a Visa or Master Card to get by. Over 90% of all transactions are cashless, and many shops no longer accept cash at all. The Scandinavian countries have efficient mobile payment solutions, and many cafés and stores are now entirely cash-free. As a result, many foreign banks are considering phasing out their reserves of Scandinavian currencies, since it is easy for foreigners to get by with just a credit card in hand.

Hana Bank and KB Kookmin Bank discontinued currency exchange services for Scandinavian currencies last year, and Woori Bank is following suit. Shinhan will remain the only commercial bank to keep a small reserve and offer limited exchange options for Scandinavian currencies.

South Korea is also strong in mobile payment solutions, and in many places one can easily manage with just a credit card. However, unlike Denmark, there are still many stores and restaurants where cash is used and often required — Therefore, when traveling to Korea, it is still recommended to carry some cash.