About the South Korean Won
The current South Korean Won was introduced in 1962. It has been a floating currency since 1997, following the Asian Financial Crisis.
The name 'Won' is a cognate of the Chinese 'Yuan' and Japanese 'Yen', meaning 'round shape'.
Interesting Facts
An Economic Miracle's Currency
The Won is the currency of the 'Miracle on the Han River', South Korea's rapid transformation from a developing country to a high-tech industrial powerhouse.
Philosophers and Artists
South Korean banknotes feature prominent historical figures from the Joseon dynasty, including scholars Yi Hwang and Yi I, and artist Shin Saimdang.
Totally T-50
The 10,000 won note features a celestial globe, reflecting Korea's long history of astronomical observation.
Historical Timeline
The Bank of Korea is established.
The won replaces the hwan at a rate of 10 to 1.
The Asian Financial Crisis leads to the won being floated.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- KRW
- Symbol
- ₩
- Numeric Code
- 410
- Subunit
- Jeon (1/100)
- Introduced
- 1962-06-10
Central Bank
- Name
- Bank of Korea
- Headquarters
- Seoul, South Korea
- Founded
- 1950
- Current Governor
- Rhee Chang-yong (since 2022)
Economic Data
- Reserve Currency Share
- 0.2%
- Forex Volume Share
- 2.0%
- Inflation Rate
- 2.7%
- Interest Rate
- 3.50%
Exchange Rates
What Affects the KRW Exchange Rate?
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