Timing is everything. If you're looking at the CAD to South Korean Won exchange rate today, you’re stepping into a market that’s frankly a bit of a rollercoaster. As of mid-January 2026, we’ve seen the Canadian Dollar (CAD) sitting around the 1,059 KRW mark. It sounds high, and compared to where things were a year ago, it kinda is.
But don't let the raw numbers fool you.
The relationship between the "Loonie" and the Won isn't just a simple math problem. It’s a tug-of-war between two very different economic engines. On one side, you have Canada, a resource-heavy giant trying to navigate shifting trade winds. On the other, South Korea, a tech-obsessed export powerhouse where the currency has been taking a beating lately.
If you're planning to send money back to Seoul or funding a trip to Myeongdong, you’ve gotta look past the "1 CAD = 1,000+ KRW" headline.
Why the Korean Won is Feeling the Heat Right Now
Honestly, the South Korean Won (KRW) has been having a rough 2026 so far. It’s currently one of the weakest Asian currencies this year. Why? Because everyone in Korea seems to be buying U.S. stocks instead of keeping their money in Won.
When your own citizens are dumping their currency to buy Nvidia or Tesla shares in New York, the Won is going to drop.
Even though the Bank of Korea (BoK) is keeping interest rates steady at 2.50%, the currency is still hovering near 16-year lows against the U.S. dollar. This matters for you because the CAD often follows the USD’s lead. When the Won slides against the Greenback, your Canadian Dollars usually get more "bang for their buck" in Korea.
The Scott Bessent Effect
Just a few days ago, U.S. Treasury Secretary Scott Bessent actually jumped in to say the Won was undervalued. It was a weird, rare moment of "jawboning" from Washington. It caused a tiny rally for the Won, but the effect was basically gone within 24 hours. Investors are still skeptical. They see Korean bond prices falling and they're nervous about geopolitical risks in the region.
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CAD to South Korean Won: The Interest Rate Reality Check
You’d think higher interest rates would always mean a stronger currency. Not always.
The Bank of Canada has been cutting its benchmark rate—it’s sitting at 2.25% right now. Usually, a rate cut makes a currency less attractive. However, Canada’s economy is actually growing faster than expected, with GDP expanding at 2.6% late last year.
Contrast that with Korea:
- Canada Rate: 2.25% (holding steady)
- South Korea Rate: 2.50% (holding steady)
- The Spread: A tiny 0.25% difference.
Because the rates are so close, the CAD/KRW rate is being driven more by global sentiment and commodity prices than by central bank meetings. If oil prices spike, the CAD usually gets a boost. If global tech demand (think Samsung and SK Hynix) stays high, the Won gets some support.
The "Two-Stock" Problem in Korea
Here is something most people miss: The Korean stock market (the KOSPI) is hitting record highs, but it’s almost entirely because of Samsung and SK Hynix. About 88% of the gains are coming from just those two. The rest of the Korean economy is actually struggling with sluggish domestic demand.
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This creates a "split personality" for the Won. The export side looks great, but the internal economy is lagging, which keeps the currency suppressed and makes your CAD go further.
Sending Money? Stop Using Your Bank
If you’re moving 5,000 CAD to a Korean bank account, doing it through a major Canadian bank is basically throwing money away. I’m not even kidding. Banks like RBC or TD will give you an exchange rate that’s usually 3% to 4% worse than the mid-market rate you see on Google.
For a transfer of 5,000 CAD, that’s about 200 CAD in hidden fees.
Better Options in 2026
- Wise (formerly TransferWise): Usually the fastest. You can often get the money there in under 24 hours. They use the real exchange rate and just charge a transparent fee.
- RemitBee: A favorite for the Canadian-Korean community. If you send over 500 CAD via e-Transfer or EFT, they often do it for zero fees. That’s hard to beat.
- CurrencyFair: In January 2026, they’ve been showing up as one of the cheapest for larger transfers (like 10,000 CAD+), even if they take a day or two longer than Wise.
Traveling to Korea: The Cash vs. Card Debate
If you’re visiting Seoul, you’ll find that Korea is almost entirely cashless. Even the tiny kimbap shop in a basement will take a credit card. However, the CAD to KRW rate you get on your credit card depends on your bank’s "foreign transaction fee"—usually 2.5%.
Pro Tip: Get a "No Foreign Transaction Fee" card before you leave Canada (like the Scotiabank Passport Visa Infinite or the EQ Bank Card). It saves you that 2.5% on every single purchase.
You still need a little cash for the T-Money card (the transit pass). You can't top those up with a foreign credit card at the kiosks; it has to be Won. Just withdraw a small amount from a "Global ATM" at the airport or at any Woori/Hana Bank branch.
What to Watch for the Rest of 2026
The CAD/KRW pair is going to stay volatile. Keep an eye on three things:
- U.S. Trade Policy: Since both Canada and Korea are huge exporters to the U.S., any new tariffs out of Washington will shake both currencies.
- The "Safe Haven" Trade: If geopolitical tensions rise (which they have been in early 2026), people flee the Won and buy Gold or USD. This usually pushes the CAD/KRW rate higher.
- Oil Prices: Canada is an oil exporter. Higher oil = stronger CAD.
Next Steps for You:
If you need to exchange a large amount, don't do it all at once. The market is too jumpy right now. Consider dollar-cost averaging—sending half now and half in two weeks. This protects you if the rate suddenly swings 2% against you overnight. Always compare the "interbank rate" on a site like XE.com against what your provider is offering to ensure you aren't getting gouged.