Compare today's KRW to CNY (South Korean Won to Chinese Yuan) exchange rates
📈 South Korea to China Money Transfer Snapshot Today
- Best KRW to CNY exchange rate today: CNY 0.0046, offered by GME Remittance
- Number of money transfer providers compared: 2
- Exchange rate range: CNY 0.0046 to CNY 0.0046
- Potential savings on KRW 1000: CNY 0.00
- Number of deals and promo codes: 2
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real KRW to CNY exchange rate before providers add their margin or fees. exchange rate: 1 KRW = CNY 0.0047 (Updated about an hour ago)
See detailed South Korea to China money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 B2B transfers only
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's KRW-CNY exchange rates mean for you
Compare today's KRW-CNY exchange rates and send money from South Korea to China after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 2 providers that you can rely on for South Korea to China money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive South Korea to China Providers
🥇 GME Remittance with 1 KRW = 0.0046 CNY (best KRW to CNY exchange rate today).
🥈 Airwallex offering 1 KRW = 0.0046 CNY.
The exchange rate provided by these 2 providers ranges from CNY 0.0046 to CNY 0.0046. For a KRW 1000 money transfer from South Korea to China, that could mean up to CNY 0.00 saved on FX alone.
KRW-CNY exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final CNY payout that your recipient gets in China.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your South Korea to China remittances.
🔄 Looking for the reverse corridor? Send money from China to South Korea instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from South Korea.
👇 We also suggest looking beyond today's KRW-CNY exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst KRW-CNY exchange rate is crucial, historical data shows that transfer fees, KRW amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze South Korea to China historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your CNY payout.
Data-driven cost insights for South Korea to China money transfers
When you send money internationally from South Korea to China, the key factors that will influence the overall cost of your transaction are:
- KRW-CNY exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum CNY payout for your overseas recipient in China.
Another counter-balancing aspect is money transfer speed. If you need to rush money from South Korea to China, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for South Korea to China money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 448 actual South Korea to China money transfers handled by 14 providers over the last 5 years (for a KRW 240000 remittance benchmark).
This data-driven approach using real KRW-CNY transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for South Korea to China money transfers
- Average total cost: 4.70% (range -0.67% to 10.22%, spread 10.89 percentage points)
- Potential payout difference: On a KRW 240000 transfer, the above variation can save you up to KRW 26,136.00.
- Average FX markup: 0.82% (range -1.76%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. to 4.43%, spread 6.19 percentage points) - Average transfer fee: KRW 9,315.70 (range KRW 0.00 to KRW 21,801.00)
- Cheapest payment/delivery method combo: Bank Account Transfer → Mobile Wallet (0.45% avg cost); most expensive is Bank Account Transfer → Cash Pickup (5.60%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 5.15% (KRW 12,350.40 on KRW 240000 transfer).
- Market coverage: ~14 providers on average (competition level: competitive)
- Average speed: About 52 hours (~2.2 days)
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your South Korea to China money transfers.
📈 KRW to CNY exchange rate is often the biggest driver of both cost and payout
The exchange rate on your South Korea to China money transfers is usually the single biggest factor that will determine your overall KRW cost and your recipient's CNY payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market exchange rate
Based on historical pricing data for a KRW 240000 money transfer benchmark, we see the following FX markup ranges for South Korean Won to China transfers:
- Average markup: 0.82%
- Median markup: 0.95%
- Lowest markup: -1.76%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. - Highest markup: 4.43%
That is a spread of 6.19 percentage points between the lowest and highest observed FX markups.
To put this into perspective, on a KRW 240000 transfer, the above markup range is equivalent to roughly CNY 14,856.00 purely from differences in the exchange rate. That incremental saving increases to CNY 36,830.50 for a KRW 595000 transfer.
🛠️ How to use this insight: When comparing providers for South Korea to China remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
KRW to CNY exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total South Korea to China remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your South Korean Won reaches your recipient in China.
Based on data from last 5 years, we notice the below about South Korean Won to China money transfer fees:
- Average fee: KRW 9,315.70
- Median fee: KRW 8,000.00
- Lowest fee: KRW 0.00
- Highest fee: KRW 21,801.00
The average fee amount of KRW 9,315.70 noted above represents 3.88% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by KRW 21,801.00.
🛠️ How to use this insight: For your next money transfer from South Korea to Chinese Yuan, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for KRW-CNY remittances
Based on our detailed analysis of historical South Korea to China data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to China from South Korea:
- Bank Account Transfer: 4.67%
- Cash: 5.17%
- Credit Card: 5.35%
- Debit Card: 5.35%
That is a total spread of 0.68 percentage points.
This means that on a KRW 240000 transfer, you could save up to KRW 1,639.92 simply by choosing the best priced payment method.
These savings will only multiply for higher KRW amounts.
Here is the average cost of popular delivery methods used to send money from South Korea to China:
- Mobile Wallet: 0.45%
- Bank Deposit: 4.66%
- Cash Pickup: 5.26%
The cost difference between the above delivery methods is 4.81 percentage points.
Once again, this means that you could save up to KRW 11,554.32 on a KRW 240000 transfer to China by choosing Mobile Wallet versus Cash Pickup.
As you can imagine, the possible combinations of South Korea payment methods and China delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for South Korea to CNY money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Bank Account Transfer | Mobile Wallet | 0.45 |
| Bank Account Transfer | Bank Deposit | 4.65 |
| Cash | Cash Pickup | 5.14 |
| Cash | Bank Deposit | 5.30 |
| Credit Card | Bank Deposit | 5.35 |
| Debit Card | Bank Deposit | 5.35 |
| Bank Account Transfer | Cash Pickup | 5.60 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these KRW-CNY payment and delivery options is significant. Here are some observations:
- Bank Account Transfer → Mobile Wallet has the lowest average cost at 0.45%.
- Bank Account Transfer → Cash Pickup has the highest average cost at 5.60%.
- Bank Account Transfer → Mobile Wallet average cost is 5.15 percentage points lower than that of Bank Account Transfer → Cash Pickup.
- This means that on a KRW 240000 money transfer, you could save up to KRW 13,430.40 simply by choosing the best payment and delivery method combo.
- Further, on a KRW 595000 money transfer, the savings increase to KRW 33,296.20.
Here is a quick summary of the average historical cost of various payment and delivery methods for KRW to China money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Bank Account Transfer averaged 4.67%, compared to 5.35% for Debit Card, a difference of 0.68 percentage points.
- Cheapest delivery method: Mobile Wallet averaged 0.45%, compared to 5.26% for Cash Pickup (4.81 percentage points higher).
- Cheapest combo: Bank Account Transfer → Mobile Wallet averaged 0.45%, which is 5.15 percentage points lower than Bank Account Transfer → Cash Pickup (5.60%).
🛠️ How to use this insight: As you compare money transfer providers for your next South Korea to China international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your South Korea to China remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for KRW-CNY remittances?
When we compared South Korea banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
On average, we found that banks and money transfer providers charge very similar total costs for South Korea to China remittances.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | KRW 9,294.64 | KRW 9,378.86 | KRW -84.22 |
| Exchange rate markup | 0.81% | 0.85% | -0.03 pp* |
| Average total cost (%) | 4.69% | 4.75% | -0.07 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: When banks and money transfer companies in South Korea are priced similarly, small differences in exchange rate markup and fees can determine which provider offers better value.
📊 Does sending more money reduce the cost of KRW-CNY money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending KRW 240000 vs KRW 595000 from South Korea to China.
We found that sending a higher amount (KRW 595000) tends to be cheaper - average cost drops from 4.70% to 2.49%, a reduction of 2.22 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher South Korean Won amounts to China, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the South Korea to China remittance market?
Based on data from the last 5 years, KRW-CNY money transfers are provided on an average by 14 remittance companies. With around 14 providers serving this market, we consider the level of competition to be competitive.
Traditional banks have represented 57.1% of active providers in this corridor (8 out of 14), suggesting a bank-heavy market structure.
Banks and money transfer providers have had a fairly balanced presence in this corridor: banks account for 57.1% of providers (8 out of 14).
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your South Korea to China remittances.
⏱️ How fast are KRW-CNY money transfers?
If your recipient in China needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for South Korea to China transfers when it comes to processing time:
- Average transfer time: About 52 hours (~2.2 days).
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 96 hours (~4.0 days).
- Average speed at KRW 240000: About 52 hours (~2.2 days).
- Average speed at KRW 595000: About 52 hours (~2.2 days).
Banks vs money transfer providers speed comparison: Banks take 11 hours longer on average than money transfer providers.
🛠️ How to use this insight: If you need to send money from South Korea to China in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for China.
South Korea to China transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about South Korea to China money transfers
These FAQs use data from RemitFinder's historical analysis of South Korea to China money transfers over several years.
What factors affect the total cost of sending money from South Korea to China?
The total cost of your KRW-CNY money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect South Korea to China transfers?
Historical KRW to CNY exchange rate markup ranges from -1.76% to 4.43%, a spread of 6.19 percentage points. Even small differences in the exchange rate markup can impact your final payout significantly.
Can KRW-CNY exchange rate markup be negative?
Sometimes, money transfer providers may offer promotional exchange rates that are better than the mid-market exchange rate, resulting in a negative KRW-CNY exchange rate markup.
Such offers are generally limited by transfer amount, eligibility, or duration. Compare providers to see if you can take advantage of any ongoing special offers.
Is the exchange rate or the transfer fee more important for South Korea to China transfers?
Exchange rate markup ranges from -1.76% to 4.43% (a spread of 6.19 percentage points).
Transfer fees range from KRW 0.00 to KRW 21801.00, which equals roughly 9.08% on a KRW 240000.00 transfer.
At KRW 240000.00, the larger driver of overall cost is the transfer fee, whilst at KRW 595000.00, it shifts toward exchange rate markup.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for South Korea to China transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger KRW amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate often becomes the bigger driver. Either way, comparing both helps you get the most CNY for your KRW.
How much can South Korea to China transfer costs vary between providers?
Historical transfer cost ranges from -0.67% to 10.22% for KRW transfers to China. That is a spread of 10.89 percentage points, meaning significant differences between various money transfer providers.
A major contributor to this variation is exchange rate markup. FX markup alone ranges from -1.76% to 4.43% (a spread of 6.19 percentage points). Thus, even small differences in FX margin can have a big impact on the final CNY payout.
Why do various money transfer providers price KRW to China transfers differently?
If you send the same South Korean Won amount to China via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final CNY payout in China in a big way.
How stable are transfer costs in the South Korea to China corridor?
When we analyzed the historical total cost for KRW-CNY transfers, we observed a range from -0.67% to 10.22% (10.89 percentage points difference), along with a variability (standard deviation) of 2.11%.
A major driver of cost in this market is exchange rate markup. FX markup ranges from -1.76% to 4.43% (6.19 percentage points difference), with a standard deviation of 0.53%. Fees and payment/delivery method choices can contribute to further volatility.
This is exactly why we recommend comparing money transfer providers to get the most of your KRW-CNY transfers.
Which payment method is cheapest for South Korea to China remittances?
Bank Account Transfer is the cheapest payment method in South Korea based on its average cost at 4.67% (compared to Debit Card at 5.35%, a difference of 0.68 percentage points).
Based on this, we recommend paying for your KRW transfer with Bank Account Transfer, and avoiding Debit Card if possible.
Is Debit Card cheaper than Credit Card for South Korea to China transfers?
Credit Card is cheaper on average when sending money to China from South Korea since it costs 5.35% (compared to 5.35% for Credit Card payments, a difference of 0.00 percentage points).
As a result, we recommend that you avoid paying for your transfer to China with a Credit Card.
Which delivery method is cheapest for KRW-CNY money transfers?
Mobile Wallet is the cheapest delivery method in China as it costs 0.45% (compared to Cash Pickup at 5.26%, a spread of 4.81 percentage points).
If your recipient in China can accept Mobile Wallet, we recommend choosing it as your preferred delivery option for KRW-CNY transfers.
Is Bank Deposit cheaper than Cash Pickup for South Korea to China transfers?
Bank Deposit is cheaper for transfers to China given its 4.66% average cost (versus 5.26% for Cash Pickup, a difference of 0.60 percentage points).
To save more, consider choosing the cheapest delivery option for China.
What is the cheapest way to send money from South Korea to China?
We evaluated 7 payment and delivery method combinations for South Korea to China remittances.
Based on historical data, Bank Account Transfer → Mobile Wallet is the cheapest combination with 0.45% cost.
At the other end of the spectrum, Bank Account Transfer → Cash Pickup is the most expensive combination at 5.60% cost. That is a difference of 5.15 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for South Korea to China remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your KRW-CNY transfers.
Does sending more money reduce the cost for South Korea to China transfers?
Larger KRW-CNY transfers are cheaper on average.
The cost of a KRW 240000 transfer averages 4.70% as compared to 2.49% for a KRW 595000 transfer, a difference of 2.22 percentage points.
How long does it take to send money from South Korea to China?
Based on our analysis, the average transfer time for KRW-CNY transfers is 52 hours (~2.2 days), with the fastest transfers completing in less than one hour and the slowest in 96 hours (~4.0 days).
Are instant transfers available from South Korea to China?
Yes, historical data shows that some transfers to China from South Korea can complete in less than one hour.
Note that the actual speed of your KRW-CNY transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for South Korea to China?
Banks and money transfer providers in South Korea are similarly priced.
The average cost of banks is 4.69% compared to 4.75% for money transfer providers in South Korea, a difference of -0.07 percentage points.
How competitive is the South Korea to China remittance market?
Based on historical data, the competition level in South Korea to China is considered competitive with 14 active providers.
Money transfer providers represent about 42.9% of identified providers in South Korea.
Do I risk overpaying if I do not compare providers for South Korea to China?
Historically, total KRW-CNY transfer cost has varied by 10.89 percentage points. On a KRW 240000 transfer, that can translate to KRW 26136.00 in savings.
KRW-CNY exchange rate markup also varies across providers. The average markup spread has been about 6.19 percentage points. On a KRW 240000 transfer, that could be KRW 14856.00 saved from FX alone.
Fees can also make a big difference in this market, with a difference of about KRW 21801.00 across providers.
That is why comparing providers can materially change how much of the KRW you send does your recipient receive in China in China.
Latest KRW to CNY Conversion Rates
Here are some latest KRW to CNY (South Korean Won to Chinese Yuan) exchange rates for popular conversion amounts*.
| 1 KRW | 0.00 CNY |
| 5 KRW | 0.02 CNY |
| 10 KRW | 0.05 CNY |
| 25 KRW | 0.12 CNY |
| 50 KRW | 0.24 CNY |
| 100 KRW | 0.47 CNY |
| 150 KRW | 0.71 CNY |
| 200 KRW | 0.94 CNY |
| 250 KRW | 1.18 CNY |
| 300 KRW | 1.41 CNY |
| 400 KRW | 1.88 CNY |
| 500 KRW | 2.35 CNY |
| 600 KRW | 2.82 CNY |
| 700 KRW | 3.29 CNY |
| 800 KRW | 3.76 CNY |
| 1000 KRW | 4.70 CNY |
| 1500 KRW | 7.05 CNY |
| 2000 KRW | 9.40 CNY |
| 2500 KRW | 11.75 CNY |
| 3000 KRW | 14.10 CNY |
| 4000 KRW | 18.80 CNY |
| 5000 KRW | 23.50 CNY |
| 10000 KRW | 47.00 CNY |
| 15000 KRW | 70.50 CNY |
| 20000 KRW | 94.00 CNY |
| 30000 KRW | 141.00 CNY |
| 40000 KRW | 188.00 CNY |
| 50000 KRW | 235.00 CNY |
| 100000 KRW | 470.00 CNY |
*Based on the Mid-market Exchange Rate
1 Based on 448 pricing observations across 14 firms over the last 5 years for a KRW 240000 money transfer from South Korea to China. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the South Korea to China remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.