Planning a trip to Myeongdong or chasing those iconic Hometown Cha-Cha-Cha views in Pohang? Honestly, you’ve picked a wild time to check the exchange rate. As of January 13, 2026, the Philippine peso to won conversion is sitting at roughly 1 PHP to 24.81 KRW.
If you haven’t checked the charts in a while, that might look like a decent number. But don't let the surface stats fool you. The "won" part of that equation is currently fighting for its life on the global market. While the Philippine peso has its own struggles with inflation and domestic growth, the South Korean won is facing what local experts call a "learning effect" among investors. Basically, every time the Korean government tries to step in and save their currency, savvy traders see it as a "sale" and buy up more US dollars instead. It’s a bit of a mess.
For a Filipino traveler, this means your purchasing power in Seoul isn't exactly what it used to be a few years back. You're getting roughly 24 won for every peso. Just a few days ago, that rate was closer to 24.3. It’s moving fast.
The Reality of the Philippine Peso to Won Right Now
The market is twitchy. In the last 24 hours alone, we've seen the won slide past the 1,470 mark against the US dollar, which drags its value down against the peso too. If you’re at the airport in Manila right now looking at those glowing exchange boards, you're likely seeing a spread that feels... unfair.
Why is this happening?
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South Korea's central bank—the Bank of Korea—is trying to balance a cooling housing market and a base interest rate that's hovering around 2.50%. Meanwhile, back in the Philippines, the economy is growing, but it's a bit slower than the government hoped. When you put those two together, you get an exchange rate that behaves like a rollercoaster.
What 1,000 Pesos Actually Buys You in Seoul
Let's talk real-world numbers. If you change 1,000 PHP, you’re walking away with about 24,800 KRW.
- A decent meal: A bowl of hearty Gukbap or a basic set of Kimbap and Tteokbokki at a neighborhood spot will run you about 8,000 to 12,000 KRW.
- Coffee: A latte at a trendy cafe in Seongsu-dong? Probably 6,000 KRW.
- Transport: A single subway ride is roughly 1,400 to 1,500 KRW.
In short, your 1,000 pesos covers a lunch, a coffee, and maybe two train rides. That’s it. It’s a far cry from the "budget paradise" vibe of five years ago.
Why the Rate Keeps Changing (The Nerd Stuff)
I won't bore you with a PhD-level lecture, but you should know that the Philippine peso to won rate isn't just about the Philippines and Korea. It's heavily influenced by what’s happening in Washington and Beijing.
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- The US Dollar Factor: Both currencies are essentially "priced" against the dollar. When the US Fed keeps rates high, both the PHP and KRW suffer.
- The China-Japan Tension: Interestingly, researchers at Yanolja Research recently pointed out that if tensions between China and Japan flare up, more Chinese tourists head to Korea. That actually strengthens the won, which makes your peso buy less.
- Intervention Fatigue: The Korean government spent billions in foreign reserves just last month to keep the won from crashing. It didn't work as well as they wanted. Investors are now betting against the won, which is why we’re seeing this volatility.
Honestly, the "fair value" for the won is supposedly higher, but the market doesn't care about "fair." It cares about momentum.
Where Most Travelers Get It Wrong
Most Filipinos make the mistake of changing their pesos into won at NAIA. Don't.
The rates at Manila airports are consistently some of the worst you'll find. You’re better off bringing US dollars (if you already have them) or using a digital travel card. GCash’s GCash Card or Maya’s travel features often give you a rate much closer to the mid-market "Google" rate than any physical booth in a mall.
Another tip? If you’re already in Seoul, skip the bank counters. Go to Myeongdong. The independent money changers near the Chinese Embassy are legendary for a reason. They often offer rates that make the big banks look like they’re running a scam.
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Smart Strategies for Your 2026 Korea Trip
Since the Philippine peso to won rate is so jumpy, you have to be tactical.
Don't exchange everything at once. The rate on Monday might be 24.5, and by Thursday it could be 24.9. If you change 50,000 pesos on day one, you might lose out on a few thousand won that could have paid for a nice BBQ dinner. Change what you need for the first two days, then watch the trend.
Use the "N-Polarization" Trend.
The Korea Tourism Organization (KTO) actually has a name for how people are spending in 2026: "D.U.A.L.I.S.M." It basically means travelers are selectively splurging. They might stay in a budget hostel or a "local-centric" Airbnb to save money, then drop 150,000 won on a single high-end immersive spatial experience or a fancy K-beauty treatment.
Watch the "K-Life" Costs.
The trend this year is "living like a local." Instead of hit-and-run visits to filming locations, people are hanging out in neighborhood grocery stores and small-town markets. This is actually great for your wallet because the "tourist tax" in places like Gangnam is brutal compared to a neighborhood market in Incheon or Suwon.
Is it Still Worth Going?
Despite the exchange rate headaches, South Korea is expecting over 21 million visitors this year. The Philippines remains their top source of tourists in Southeast Asia. There’s a reason for that. Even if the peso isn't as strong as we’d like, the infrastructure, the food, and the sheer "vibe" of Korea are hard to beat.
Just be prepared. The days of 1 peso getting you 25 or 26 won are—for the moment—in the rearview mirror.
Actionable Steps for Your Currency Exchange
- Download a live tracker: Use apps like XE or Oanda, but remember these are "mid-market" rates. You will always get slightly less than what they show.
- Check your bank’s foreign transaction fee: Some Philippine banks charge up to 3% for every swipe abroad. If your bank does this, you're better off using cash.
- Enable International ATM withdrawals: If you have a BPI or BDO card, make sure you've enabled international access via the app before you fly. Withdrawing won directly from a Korean ATM often gives a better rate than a physical exchange booth, even with the 150-200 PHP fee.
- Monitor the 1,470 KRW/USD threshold: If you see the won weakening further against the dollar in the news, that is your signal to wait a day or two before exchanging your pesos, as you might get more won for your money.