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The South Korean won (Symbol: ₩; Code: KRW; Korean: 대한민국 원) is the official currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and it appears only in foreign exchange rates.
29 Οκτ 2024 · South Korean’s currency is the South Korean Won, or KRW. This currency uses the symbol “₩.” The currency in Korea dates back hundreds of years to the Joseon Dynasty. During Joseon, Koreans made use of coins made of bronze and iron, which are known as 통보 (t’ongbo) and 정보 (jeongbo), respectively.
To lessen these economic turmoil, the Currency Reform was carried out on February 15, 1953, on a 100-won to one hwan basis. The Bank of Korea then prohibited the circulation of won-denominated Bank of Korea notes.
Introduction to Coins; Brief History of Current Korea Notes in Circulation; Currency Timeline. 1950 ~ 1953; 1953 ~ 1962; 1962 ~ 1970; 1970 ~ 1982; ... Internationalization of the Korean Won; International Reserves and External Debts; ... Contact us : Bank of Korea Address, Head Office & Branches.
Under the Currency Reform, the Bank of Korea issued new notes in six denominations: 500-, 100-, 50-, 10-, 5- and 1-won. Furthermore, the Bank introduced into circulation 50- and 10-jeon notes to provide change notes for low value transactions on December 1, 1962.
1962, six new bank note denominations were introduced: 1, 5, 50, 100 and 500 won. Currency notes and coins in South Korea have grown alongside the economic development in the country from the 1960s. In 1972 and 1973 high denomination notes of 5000 won and 10,000 won were introduced.
As of 2020, there are only four South Korean won coin denominations being minted – ₩10, ₩50, ₩100, and ₩500. The initial 1962 series of won banknotes came in values that overlapped the coin denominations up to ₩100, only adding a single higher denomination banknote of ₩500.
