Office worker Bang, 31, who is set to go on a honeymoon to Italy in December this year, has been checking exchange rates several times a day lately. The plane tickets and lodging are booked, but the person has not yet exchanged euros to use locally. Bang said, "I didn't know the euro would get this expensive," and noted, "I'm holding out until a week before departure, waiting for the rate to come down even a little."
Travelers planning year-end and New Year overseas trips are growing more anxious. With the dollar and euro exchange rates jumping, travel expenses are set to swell more than 10% beyond expectations. Some are canceling flights altogether or switching destinations to Southeast Asia or Japan, where exchange-rate burdens are lighter.
As of 3:30 p.m. on the 26th, according to the posted rates at Hana Bank, it takes 1,491.75 won to buy $1. You can buy 1 euro for 1,733.19 won. On June 4, when the Lee Jae-myung administration launched, $1 could be bought for 1,387.36 won and 1 euro for 1,588.45 won. In about five months, they rose 7.5% and 9.1%, respectively.
Overseas travel expenses have also climbed in tandem. According to the Korea Tourism Organization (KTO), the amount our people spend per overseas trip per person (tourism expenditure) averaged $968.7 over the past year (Oct. 2024–Sep. 2025). Converted into won, it increased from 1,334,000 won in June to 1,445,000 won now, up more than 100,000 won in five months.
Because this is an average that includes destinations such as Japan and Southeast Asia, where exchange-rate effects are relatively smaller, the burden is heavier for travelers visiting Europe or the United States.
Kim, 33, who is set for a year-end trip to Europe, said, "I heard two of us could get domestic flight tickets there for 400,000 won, but with the euro rising, it looks like we'll have to spend more than 500,000 won," adding, "We also switched lodging from a hotel to Airbnb."
Choi, 33, who is traveling to the United States next month, also said, "I exchanged 1 million won, but it didn't even reach $700, so I was surprised." The person added, "I have to spend less than $100 a day for a week, but regular restaurants are burdensome when you factor in a 20% tip, so I plan to get takeout from fast-food places like McDonald's and eat at the lodging."
Some are scrapping plans entirely or changing destinations. A travel agency in Seocho District, Seoul, said, "Because of the exchange rate, about 10% of year-end trips to the United States and Europe are being canceled," adding, "Instead, we are recommending Japan or Southeast Asia, where exchange-rate burdens are lighter." Another travel agency official also said, "In particular, demand is increasing for choosing Southeast Asian resorts instead of Guam and Saipan, which use U.S. dollars."
Although foreign-exchange authorities have stepped in, the exchange-rate burden on overseas travelers is expected to continue for the time being. In a recent survey by the Korea Financial Investment Association of 100 people at 47 institutions participating in the bond market, the most common response, at 47%, was that the exchange rate will remain at the current level in December. Respondents expecting a decline were 30%, and those expecting a rise were 23%.