Wondering when’s a good time to visit our favourite K-pop capital that is Korea? Here’s a PSA for you: The South Korean won has weakened against the Singapore Dollar once again! So, if you’re planning on making the most of every South Korean won, the time is now!

On 24 October 2022, the South Korean won hit a historic low of S$1 to 1,016.74 KRW. And on 10 January 2023, the exchange rate was S$1 to 931.9662 KRW. However, since then, the South Korean won has been gradually weakening against the Singapore Dollar over the past three months — leading us to today, 2 May 2023, with the current rates at S$1 to 1006.39 KRW at the time of writing.

Whether you’re a cultural buff, a foodie, an adventurer, or there to chase your favourite K-pop idols and ride the Hallyu wave, with the June holidays coming up and the Korean won gradually weakening back to its historic low, it’s no doubt time to head to the Land of Kimchi and make the most of every dollar! Read on for more information on what’s up with the Korean won.

🔎 From now till 12 July 2023: We’re on the hunt for our Best Rates Boss! Win a pair of return flight tickets to anywhere + S$5,000 YouTrip credits! Find out more here ✈️

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SGD vs Korean Won: How’s It Going?

Fig A:

Fig B:

First of all, let’s break down both Fig A and Fig B. Fig A describes the general journey of the Korean won across the last year, up to April 2023 — showing that as of 27 April 2023, 1 KRW is exchangeable for 0.2999 SGD. Similarly, in Fig B, you’re looking at the monthly average of 1 SGD to 100 KRW — 0.1025 (March 2023). While April’s average rates have yet to be released, you can clearly see that the average monthly rate has been steadily decreasing for the past three months against the SGD since January 2023. The current exchange rate is S$1 to 1006.39 KRW as of 2 May 2023. But why is that?

What’s Up With The Korean Won?

According to recent reports, the South Korean won has fallen to its weakest level against the US dollar in almost five months, with shipments to China — South Korea’s largest overseas market — dropping significantly. While the won had been recovering in recent months from November 2022 to January 2023, it started displaying a downward trend again due to the dividend payment season in April, where foreign investors take dividends out of the country and effectively trade won for other currencies. As such, it doesn’t seem like it’ll make a recovery any time soon and is predicted to continue weakening.

So what does this mean for you? Well, we suggest planning your next trip to Korea soon to make use of these weakening rates while you still can. Happy shopping! 😋

So How Do I Use YouTrip To Enjoy The Best Korean Won Rates?

In a nutshell, YouTrip works to “unpinch” your wallet — so you don’t need to worry about losing money from exchange rate margins. 

✅  Simply top up your desired amount of SGD into your YouTrip wallet.

✅  To check out the latest KRW rates, use the Mastercard Calculator (remember to include ‘0’ under bank fees!) before you spend.

✅ And that’s it, you’re ready to start spending in Korea! All you have to do is to use your YouTrip Mastercard in SGD and we’ll do all the work for you with Smart Exchange™!

Save On The Best Korean Won Rates With YouTrip!

And just like that, you’re ready to head to the Land of Morning Calm and enjoy saving with the best rates in town! Whether you’re planning to head to Korea or not, don’t forget to take your YouTrip card with you on your next holiday to make full use of our wholesale exchange rates (i.e. no pesky bank fees!). 

Sign up now with to get FREE S$5 in your account and be sure to check out our YouTrip Perks page for exclusive offers and promotions too!

For more great tips and guides like this, join our Telegram(@YouTripSG)and subscribe to our free weekly newsletter here or down below! And while you’re at it, why not join the conversation with thousands of #YouTroopers in our very own Community Telegram Group @YouTripSquad? Get tips and tricks to everything YouTrip including exclusive invites to exciting events and experiences, & be part of the #YouTripSquad! 💜

Stay safe, and happy travels!

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