교환하다(gyo-hwan-ha-da, gyohwanhada)
To exchange or return goods or services formally or according to set procedures.
When to use
Product exchange, Service change, Receipt required
The nuance
Used in formal contexts or when exchanging goods/services, especially in stores or contractual situations.
바꾸다(ba-kku-da, bakkuda)
To change or swap things, people, or states freely in everyday contexts.
When to use
Changing clothes color, Swapping seats with a friend, Changing phone number
The nuance
Used informally and broadly, including changes involving people or situations.