CNY to KRW: Chinese Yuan to Korean Won Exchange Rate Guide 2026

1. CNY to KRW Conversion Table (¥1,000 – ¥100,000)

Quick reference conversions of common Chinese Yuan amounts to Korean Won, based on the live mid-market rate of 100 CNY = 21,925.02 KRW as of May 15, 2026. Actual exchange rates at banks or money changers will vary.

Mid-market rates as of May 15, 2026. For exact real-time conversion, use our live CNY to KRW calculator. Note: The Chinese Yuan (CNY) is also called the Renminbi (RMB, 人民币). The terms are used interchangeably for practical exchange purposes.

CNY vs CNH: Which Rate Applies to You?

CNY (onshore yuan) is the official mainland Chinese currency, managed by the People's Bank of China within a daily trading band of ±2% around the PBOC's daily fixing rate. CNH is the offshore yuan traded freely in Hong Kong and international markets. When exchanging yuan in South Korea, the rate used is typically based on the onshore CNY mid-market rate, as this is what the RateCrawler API tracks.

2. Historical CNY/KRW Rate Trends & China-Korea Trade Events

The CNY/KRW rate has been remarkably stable over long periods, reflecting China's managed exchange rate policy. However, geopolitical events and economic shocks have created notable volatility episodes.

The THAAD Episode: Political Risk and CNY/KRW

The most significant geopolitical shock to the China-Korea economic relationship in recent memory was the 2017 THAAD (Terminal High Altitude Area Defense) deployment by South Korea. China responded with informal economic sanctions including:

• Banning group tours by Chinese tourists to South Korea (previously 8+ million visitors/year)
• Unofficial boycotts of Korean products (Lotte, Hyundai, Kia saw significant sales drops in China)
• Restrictions on Korean cultural exports (K-dramas, K-pop) in China

This episode demonstrated how China-Korea geopolitical tensions can impact Korean economic performance. While the CNY/KRW rate itself did not move dramatically (both currencies remained managed), Korean equity markets and KRW experienced downward pressure as investors priced in the economic impact.

3. PBOC vs BOK: Monetary Policy Comparison

Understanding how China's central bank (PBOC) and Korea's central bank (BOK) differ in their approach to monetary policy helps explain CNY and KRW movements.

Why PBOC Policy Matters for KRW

Despite China not being directly in the CNY/KRW exchange rate calculation in the same way as USD pairs, PBOC policy profoundly influences KRW through economic channels:

• Chinese demand for Korean semiconductors and petrochemicals directly impacts Korea's export revenues and trade balance
• PBOC stimulus that accelerates Chinese manufacturing and construction boosts demand for Korean industrial inputs, supporting KRW
• CNY depreciation against USD makes Chinese exports more competitive vs Korean goods globally, putting indirect pressure on Korean exporters and KRW

4. China-Korea Trade Relationship ($300B+ Bilateral)

China and South Korea have one of the world's most significant bilateral trade relationships. China has been South Korea's largest trading partner since 2003. Annual bilateral trade exceeds $300 billion USD, making this relationship central to both economies.

Korea-China Free Trade Agreement (KCFTA)

The Korea-China FTA entered into force on December 20, 2015, after 21 rounds of negotiations. It covers over 90% of trade items and has progressively reduced tariffs on goods and services between the two countries.

Key Trade Flows

Chinese Tourism in Korea

Before the THAAD dispute and COVID-19, Chinese tourists were the largest group of foreign visitors to South Korea, numbering over 8 million per year. Chinese visitor numbers have recovered since COVID-19 reopening, though not yet to pre-THAAD levels. Chinese tourists are major generators of CNY-to-KRW conversion demand, particularly at Myeong-dong money changers, Duty Free stores, and Lotte/Shinsegae department stores.

Korean Investment in China

South Korean companies operate extensive manufacturing and distribution networks in China. Samsung Electronics has display and smartphone manufacturing facilities in China; Hyundai Motor has assembly plants; LG Chem operates battery plants. These operations generate substantial CNY-KRW financial flows as profits are repatriated to Korea.

5. Exchanging Renminbi in Korea: Myeong-dong vs Banks

If you have Chinese Yuan (Renminbi / 人民币) cash in Korea and need to exchange it for Korean Won, here are your best options:

Myeong-dong Money Changers (Best for CNY Cash)

Myeong-dong in central Seoul is the best place to exchange CNY cash for KRW in South Korea. Licensed money changers in this area:

• Specialize in CNY — many changers in Myeong-dong were historically set up to serve Chinese tourists and often have significant CNY inventory
• Offer rates typically 0.5%–1.5% from mid-market for CNY, often better than banks
• Accept all Chinese banknote denominations (¥100, ¥50, ¥20, ¥10, ¥5, ¥1)
• No paperwork required for amounts under the KRW reporting threshold
• Avoid damaged or very old pre-2015 banknotes — some changers may refuse them

Korean Bank Branches

Korean banks with strong China connections offer competitive CNY exchange:

• Woori Bank: Has extensive operations in China; typically offers competitive CNY rates at major branches
• Hana Bank: Strong FX operations; competitive for CNY at main branch FX desks
• Kookmin Bank (KB): Largest Korean retail bank; offers CNY at most major branch FX desks
• Industrial Bank of China (Seoul branch): Chinese state bank with Seoul branch; naturally competitive CNY rates

Typical bank spread for CNY/KRW: 1%–2% from mid-market. Bring your passport. Large amounts (over ₩10 million equivalent) may require documentation of source of funds.

Incheon Airport FX Booths

Incheon International Airport has CNY exchange available at FX booths in the arrival and departure halls. Rates are 3%–5% from mid-market — only use for small emergency amounts. A better strategy: exchange a small amount at the airport for taxi and transport, then go to Myeong-dong for bulk exchange.

Alipay / WeChat Pay in Korea

Chinese visitors increasingly pay with Alipay and WeChat Pay at Korean merchants. Major Korean department stores, tourist attractions, and many Myeong-dong shops now accept both. This reduces the need for physical CNY cash exchange for Chinese tourists, though physical exchange remains relevant for those sending remittances or traveling with cash.

6. Frequently Asked Questions

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