KRW | South Korean Won
- The won or the Korean Republic Won is the currency of South Korea. The won is abbreviated with the sign ₩. It is divided into 100 jeon.
- The South Korean won was initially pegged to the U.S. dollar at a rate of 15 won = 1 dollar. A series of devaluations followed, the later ones in part due to the Korean War.
- In 1946, the Bank of Joseon introduced 10 and 100 won notes. These were followed in 1949 by 5 and 1000 won notes.
- The first South Korean won was replaced by the hwan on February 15, 1953 at a rate of 1 hwan = 100 won.
- The won was reintroduced on June 10, 1962 at a rate of 1 won = 10 hwan. It became the sole legal tender on March 22, 1975 with the withdrawal of the last circulating hwan coins.
- The banknotes come in the denominations of 1000, 5000, 10 000 and 50 000 won and coins in denominations of 1, 5, 10 , 50, 100 and 500 won.
Country uses South Korean Won: