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South Korean Won

The South Korean Won plays a crucial role in the global economy, as South Korea is one of the world’s leading industrial and technological powerhouses. South Korea is home to major multinational companies in industries such as electronics, automobiles, and semiconductors, contributing to the Won’s strength and stability.

The Bank of Korea oversees the currency’s monetary policy, ensuring financial stability. As a freely floating currency, the KRW’s value is influenced by global trade, economic performance, and market conditions.

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Importance of the South Korean Won

The South Korean Won plays a crucial role in the global economy, as South Korea is one of the world’s leading industrial and technological powerhouses. South Korea is home to major multinational companies in industries such as electronics, automobiles, and semiconductors, contributing to the Won’s strength and stability.

The Bank of Korea oversees the currency’s monetary policy, ensuring financial stability. As a freely floating currency, the KRW’s value is influenced by global trade, economic performance, and market conditions.

About South Korean Won

The South Korean Won was first introduced in 1902 but was later replaced by the Korean Yen during Japanese rule (1910–1945). After regaining independence, South Korea reintroduced the Won in 1945, pegged to the US Dollar. In 1953, the currency underwent redenomination due to inflation.

In 1962, South Korea introduced the modern Won (KRW) as part of its rapid economic development strategy. The country shifted to a floating exchange rate system in 1997 during the Asian financial crisis, allowing the Won’s value to fluctuate based on market forces.

Today, the South Korean Won reflects the nation’s strong economy and technological advancements.

South Korean Won Stats
Name
South Korean Won
Symbol
₩
Code
KRW
Minor Unit
1/100 = Jeon
Top KRW Conversion
Top KRW Conversion

South Korean Won Profile

Nicknames

Jeon, Baek Won, Cheon Won

Coins

Freq used: ₩10, ₩50, ₩100, ₩500

Bank notes

Freq used: ₩1, ₩5 (not in active circulation but still legal tender)

Central bank

The Bank of Korea

Users

Korea (South)... Korea (South)

Other Currencies

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