How much is transaction fee in Korea?

While Visa and MasterCard dominate the credit card market in South Korea, American Express (Amex) also finds some acceptance, albeit in a more limited capacity. Specifically, Amex cards are often accepted in popular tourist areas and high-end establishments catering to international visitors.

However, it's important to note that Amex's acceptance is not as widespread as Visa and MasterCard, making it less practical for daily transactions or in areas with a less significant tourist presence.

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In South Korea, the majority of large-scale businesses accept credit cards as a means of payment, with Visa and MasterCard being the most prevalent options. These two international card brands enjoy widespread acceptance across various shops and service providers.

Despite the convenience offered by credit card payments, many merchants and financial institutions in South Korea impose a transaction fee on customers. Typically, this fee ranges from 2% to 4% of the total transaction amount, adding an additional cost to the purchase.