What Currency Does South Korea Use

Curious most Korean currency and Korean coin ? This article will give you lot everything you lot demand to know about the South Korean currency.

Korean Won symbol with a sack of cash and the text "Korean Currency Bills and Coins"

Read on to know more about the S Korean Won, also known equally South Korean Won, Korean Democracy Won, or KRW if y'all want to call information technology by its three-digit currency code.

Contents

one Korean Coin
2 Korean Currency
- ii.1 What is the currency in Korea?
  - ii.1.1 What is KRW?
3 History of the Korean Won
4 How does Korean Money work?
5 Korean Bills
- 5.1 1,000 won
- v.2 5,000 won
- 5.3 x,000 won
- five.iv 50,000 won
6 Korean Coins
- 6.1 10 won
- 6.ii 50 won
- 6.three 100 won
- 6.4 500 won
7 How to Convert Korean Won to USD
8 How much is 1000 won in United states Dollars?
9 What is 10000 won in The states Dollars?
ten Why practise I need to acquire Korean money?

Korean Money

Over the past decades, we've seen South Korea evolve into i of the strongest economies in Asia. Information technology'due south fascinating to know that the South Korean economic system and the Korean currency accept improved a lot after what the country has gone through, including what happened during World War II and the Korean State of war.

In this article, we'll talk about the history of Korean Coin, the different Korean bills and coins, and the reasons you should learn near Korean money.

Korean Currency

The official name for Korean money is "Won." This is the proper noun used for both South Korean and Democratic people's republic of korea. This became the official currency for both countries subsequently being divided into two.

The proper name "won" originated from a Hanja grapheme similar to the Chinese Yuan and Japanese Yen.

Although this is where the Korean money'southward name came from, their value is quite dissimilar. For example, i KRW equals 0.10 Japanese Yen(JPY) and just 0.01 Chinese Yuan(CNY).

Some other way of looking at it would exist, 1 US Dollar to Due south Korean Won would exist i,218.28 KRW, 6.36 CNY in Chinese Yuan, and 123.87 JPY in Japanese Yuan.

What is the currency in Korea?

The official currency of South korea is the Korean Republic Won or merely the South Korean Won. In Korean, this currency is called 대한민국 원 (daehanminguk won).

What is KRW?

The S Korean Won or KRW is the currency of South korea. This currency uses the symbol "₩".

History of the Korean Won

Korean currency dates dorsum hundreds of years to the Joseon Dynasty. During Joseon, Korean currency fabricated utilise of Korean coins fabricated of bronze and iron, which are known as 통보 (t'ongbo) and 정보 (jeongbo), respectively. Newspaper money, or 저화 (jeohwa) in Korean, was offset used during the Joseon Dynasty.

Fast frontward to our nowadays day, Korean currency makes utilize of Korean bills and Korean coins. In them are printed images of people who have made significant contributions to Republic of korea.

The get-go Due south Korean Won bills were issued by the Banking company of Joseon but later on were issued by the Bank of Korea.

It'south impressive that when learning more than well-nigh the South Korean Won, you tin't help only likewise larn nigh Korean history.

How does Korean Money work?

There are currently four banknotes or newspaper bills that are in apportionment in Republic of korea. These are the 50000 won nib, 10000 won beak, 5000 won nib, and thou won bill.

Equally for the South Korean won coin denominations, there are currently four that are in circulation. These are the ten won coin, 50 won coin, 100 won coin, and the 500 won coin.

Tin't read Korean yet? Click here to acquire for costless in virtually lx minutes!

Let's move on to talking about the Korean Bills and Coins, what they look like, and the exciting stories behind them. Let the fun facts brainstorm!

Korean Bills

There are four different Korean won bills issued by the Bank of Korea and used in South korea. They are 50,000 won, ten,000 won, 5,000 won, and i,000 won.

The bills become larger as they go up. The 5,000 won bill is slightly larger than the one,000 won bill, and the 10,000 won beak is somewhat larger than the 5,000 won beak.

Korean Won Money

Many of the names here are written in Hangeul, the Korean Alphabet. If you tin can't read Korean characters yet, you lot can learn them free in nigh one hour here.

Note: You can use Google currency converter for more accurate conversions for updated exchange rates.

ane,000 won

The front of the ₩1,000 pecker features 퇴계이황 Toegye Yi Hwang (1501 – 1570).

Yi Hwang was a famous Confucian scholar from the Joseon Dynasty (That's the 500-year Confucian dynasty in Korea!) who was big into calligraphy and poetry.

If yous're wondering who Toegye is, dandy question! That was his pen name. Yi Hwang was a busy guy.

Korean Money 1000 Won Front

The back of the ₩ane,000 bill is the 계상정거도 Gyesangjeonggeodo. In addition to being an impressively long name for a painting, the backside of the 1,000 won bill also represents a painting of Yi Hwang in Dosan Seowon (surface area of Korea).

If you lot've always visited present-day Andong in Korea, then y'all have been to Dosan Seowon!

Detail Of A 1000 South Korean Won Bank Note Reverse

Exchange Rate:

The Us dollar commutation rate of ₩1,000 (KRW) is less than one USD, around $0.83.

5,000 won

The front end side of the ₩v,000 bill is 율곡이이 Yulgok Yi I (1536 – 1584).

Like Yi Hwang, Yi I (pronounced "yee-ee") was also a mover and a shaker back in the 1500s. He attained fame as a Confucian scholar and flew under the radar with his pen name Yulgok.

Business man hold south korea banknote 5000 korean won on wood background

The backside is some other famous painting, 초충도 Chochungdo. This painting was made by Shin Saimdang (Yi I'southward female parent). It's called "Insects and Plants."

Korean Money 5000 Won Back

Exchange Charge per unit:

The US dollar exchange rate of ₩five,000 (KRW) is roughly $4.07.

10,000 won

The ₩10,000 neb features 세종대왕 Sejong the Great (1397 – 1450).

If you haven't heard of this 4^th rex of the Joseon Dynasty, then consider this the first of many times that you lot volition! He is the one responsible for introducing Hangeul into Korean society. Hangeul is essential to Korean society; it even has its own holiday!

Korean Money 10000 Won Front

The back of the 10,000 won beak is the 혼천시계 Honcheonsigye.

Since "sigye" means "clock" in Korean, we tin call the picture on the dorsum of this notation the "Hocheon Clock." 혼천시계 (honcheonsigye) is an astronomical clock that was made in 1669 and is withal in existence today. If you're ever sitting in your house and wondering what the position of the universe is at any given time, you'll desire to end by Korea University to consult with the Hocehon Clock in person!

Korean Money 10000 won back

Exchange Charge per unit:

The US dollar exchange rate of ₩10,000 (KRW) is roughly $8.26.

50,000 won

The front of the ₩50,000 bill is 신사임당 Shin Saimdang (1504 – 1551).

Try saying that name four times fast! Shin Saimdang was the mother of Yi I, as well every bit a writer, creative person, calligraphist, and poet. Her artwork captured beautiful and fragile images of insects, flowers, fish, and landscapes. People liked her because she was a model of Confucian ideals.

Korean Money 50000 Front

At the dorsum of the bill is the 월매도 Wolmaedo. Adequately unproblematic; this is a painting of bamboo and a plum tree.

Korean Money 50000 Won Back

Commutation Rate:

The US dollar substitution rate of ₩50,000 (KRW) is roughly $41.28.

There you take it, the big 4 in Korean currency.

Now, let's movement on to the coins!

Korean Coins

Crack open up your piggy banks; nosotros're nearly to give you the demand-to-know information for each of those famous coins you see so often. Your trips to the vending machine will take on a new dimension of fun!

ten won

The obverse side of the ₩10 money shows the 다보탑 (Dabotap) Pagoda, a Buddhist monument in Gyeongju, South korea. The reverse side displays the standard information found in all coins: the value of the currency, the date, and the issuer (한국은행 | Bank of Korea).

10 won

Substitution Rate:

The US dollar commutation rate of this Korean coin (KRW) is roughly around $0.0082.

50 won

The obverse side of the ₩50 coin features a stem of rice, Korea's favorite food. The reverse side shows the value of the coin, the date, and the issuer (한국은행 | Banking company of Korea).

50 won Substitution Rate:

The U.s. dollar exchange rate of this Korean coin (KRW) is roughly around $0.041.

100 won

The master design of the ₩100 coin is an epitome of Admiral Yi Sun-sin (1545-1598), a historic navy admiral and national hero in Korea. The reverse side displays the value of the coin, the appointment, and the issuer (한국은행 | Bank of Korea).

100 South Korean Wons Coin Exchange Rate:

The US dollar exchange rate of this Korean coin (KRW) is roughly around $0.083.

500 won

The ₩500 coin's principal design is the svelte Red-Crowned Crane flight through the heaven. The reverse side displays the value of the money, the appointment, and the issuer (한국은행 | Bank of Korea).

500 won

Exchange Charge per unit:

The Us dollar exchange rate of this Korean coin is roughly around $0.041.

How to Catechumen Korean Won to USD

To convert Korean won to USD, USD to Korean won, or whatever other currency, you can check your local banking company. You tin can as well bank check the exchange rates using converters similar this ane.

How much is grand won in Usa Dollars?

1000 won in United states of america Dollars is around $0.81(USD) at the current exchange charge per unit of ane KRW = 0.00081 USD.

What is 10000 won in United states Dollars?

k won in US Dollars is around $8.fourteen(USD) at the current exchange charge per unit of 1 KRW = 0.00081 USD.

Why do I need to learn Korean coin?

If you're planning to visit or alive in Korea or do business with Koreans, it's valuable to know about Korean coin.

Getting familiar with the different Korean money (Korean bills and Korean coins) will help ease your life with annihilation related to spending money when y'all're in Due south Korea.

Want to learn how to count coin? We'll teach y'all how! You tin cheque out our article on Korean Numbers and kickoff counting in Korean today.

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So there you have it! Hopefully, you at present know a bit more virtually Korean coin.

Which Korean bill or coin is your favorite? Please feel free to leave a comment below!