Korean currency dates back hundreds of years to the Joseon Dynasty. This currency uses the symbol “₩.” History of the Korean Won The South Korean Won or KRW is the currency of South Korea. The official currency of South Korea is the Korean Republic Won or simply the South Korean Won. In Korean, this currency is called 대한민국 원 (daehanminguk won). For instance, 1 KRW equals 0.10 Japanese Yen (JPY) and only 0.01 Chinese Yuan (CNY).Īnother way of looking at it would be that 1 US Dollar to South Korean Won would be 1,218.28 KRW, 6.36 CNY in Chinese Yuan, and 123.87 JPY in Japanese Yuan.
The name “won” originated from a Hanja character similar to the Chinese Yuan and Japanese Yen.Īlthough this is where the Korean money’s name came from, their value is quite different. This became the official currency for both countries after being divided into two. The official name for Korean money is “Won.” This is the name used for both South Korean and North Korea. In this article, we’ll talk about the history of Korean money, the different Korean bills and coins, and why you should learn about Korean money. It’s fascinating to know that the South Korean economy and the South Korean currency have improved a lot after what the country has gone through, including what happened during World War II and the Korean War. Over the past decades, we’ve seen South Korea evolve into one of the strongest economies in Asia. 7.1 How much is 1000 won in US Dollars?.
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