What is the common currency of South Korea and what is the currency of South Korea called

Updated on Financial 2024-03-31
11 answers
  1. Anonymous users2024-02-07

    The currency of South Korea is the South Korean Won (ISO 4217**: KRW).

    Strictly speaking, the won can be divided into 100 points, but it is not used in daily life.

    The Korean currency is issued in two forms, coins and banknotes, with the most common coin being and 500 won, and banknotes denominations of , 000 and 50,000 won, respectively. The issuance of coins and banknotes is the traditional competence of the Bank of Korea, the Bank of Korea, and the Korea Mint Corporation is responsible for the actual minting and printing of the currency.

    The won was first issued in 1902 and was replaced by the yen in 1910 due to a forced merger by Japan. After the liberation of Korea in 1945, the won was reintroduced, and in 1953 it was replaced by "won". The won was used as the Korean currency until 1962 and was replaced by the won again in 1962.

    The circulation of the won came to an end in 1975, and the won became the only legal tender in South Korea.

    In 1962, banknotes with a denomination of 500 won were issued to replace the won, followed by banknotes with denominations of 5,000 won in 1972 and 10,000 won in 1973. In the currency reform carried out in 1972, it was decided to continue minting and 100 won coins and stop printing banknotes of the same denomination. The 1,000 won note was issued in 1975, and in 1982, the 500 won note was replaced by a coin.

    Since 1997, the won has been traded on a floating exchange rate basis.

    Exchange rate with major currencies (as of December 11, 2009): US dollar = South Korean won.

    Euro = 1716 won.

    British Pound Sterling = South Korean Won.

    Japanese Yen = South Korean Won.

    Japanese Yen = South Korean Won.

  2. Anonymous users2024-02-06

    6 9, I think when I go to Korea, supermarkets and shopping malls use this to express money.

  3. Anonymous users2024-02-05

    The basic unit of the won is the won. The unit of currency in South Korea is:"", the Chinese character is written as "round", and pinyin is represented by "won". Sometimes the old name "圜" (,hwan) is also used.

  4. Anonymous users2024-02-04

    There are many denominations of currencies currently circulating in the Korean money market and commodity market, including 1,000 won, 5,000 won, 10,000 won, 50,000 won banknotes, 1 won, 5 won, 10 won, 50 won, 100 won, 500 won, and so on. At present, the highest denomination of 50,000 won issued by the Bank of Korea** was issued and put into circulation at the beginning of this year. Currency, as a general equivalent, must have its own value, which simply refers to the won coinage.

    So what is the gold content of the metal coinage of the won? Because the face value of the currency made in Korea is generally relatively large, it not only has purchasing power but also its own value for the won coinage, so the influence of the won in the market has always been relatively strong, and it is also very popular, and its currency value is also relatively stable. Because of this, major shops and restaurants in South Korea generally only accept Korean won, especially large amounts of Korean won coinage, so I would like to remind the majority of Chinese tourists who want to visit South Korea to be sure to exchange their RMB for Korean won before you go to South Korea, so that it can be more convenient when you go to South Korea.

    Of course, you can also deposit your money directly in a credit card, because credit cards can be used in many shopping malls and major cities in South Korea, which is specially set up for every foreign guest who comes to Korea in recent years to expand the influence of its tourism industry. In the past, it seemed that the won could only be exchanged with the US dollar, and the RMB could not be directly exchanged with the Korean won, but with the expansion of the scope of the RMB, the advantages of the stable value of the RMB attracted businessmen from all over the world, and gradually the RMB became particularly thin and popular in South Korea, even surpassing the US dollar. Therefore, in the Korean market now, you will often see customers holding RMB and spending freely.

    In addition, there is good news that Chinese banks can already handle the exchange of RMB and Korean won, and remind you that you can exchange Korean won at various banks in China before going to South Korea. The exchange ratio of the Korean won to the Chinese yuan is about 20:1, and this ratio will change accordingly as the economy develops.

  5. Anonymous users2024-02-03

    The basic unit of the won is the won. The unit of currency in South Korea is:"Meta"with'won'Denote. There are two types of Korean won: banknotes and coins.

    There are three types of banknotes: 1,000 won, 5,000 won, and 10,000 won, and they are easy to distinguish by the historical figures and colors printed on them.

    There are a total of 6 coins in Korean coinage: 1 won, 5 won, 10 won, 50 won, 100 won, 500 won. There are four types of coins in circulation: 10 won, 50 won, 100 won, and 500 won (10 won is the smallest unit).

    Due to the high exchange rate of the Korean won, the 1 won and 5 won coins were discontinued in February 2001. The value of all six currencies in South Korea.

    Exchange rate (20 December 2008).

    1 USD = Korean won.

    1 Euro = South Korean won.

    1 JPY = Korean won.

    1 British Pound = South Korean Won.

    1 Chinese Won = South Korean Won.

    Banknotes that are still being issued in South Korea.

    KRW 1,000: Lee Jong The new edition was released in 2007.

    5,000 won: Kuriya Lee Er New edition released in 2006 10,000 won: King Sejong The new edition was released in 2007.

  6. Anonymous users2024-02-02

    The coins of the Seven Heroes of the Warring States Period of Qin, Chu, Qi, Yan, Zhao, Wei, and Han are composed of four types: cloth coins, knife coins, ring coins, and ant-nose coins (grimace coins). It was one of the four major monetary systems of the Warring States period.

    The cloth coin, in the shape of a shovel, evolved from the agricultural tools "money" and "plutonium" of the agricultural economy, which is why the currency is called "money". "Cloth" is a borrowed word for "镈". The circulation scope of cloth coins is mainly in the agricultural economic areas in the middle reaches of the Yellow River, such as Korea, Zhao, Wei, Yan, etc.

    Knife coins, knife cut shape, originated from the fishing and hunting economy. It mainly circulates in the eastern vassal states of the Yellow River Valley, such as Qi, Yan, and Zhao. The knife coins of various countries are different in size and shape, among which the knife coins of Qi are the most simple and exquisite.

    Round money, round round hole, also called ring money. Originated from the spinning wheel or bihuan of handicraft economic tools, mainly circulated in Qin, Wei, and Korea, after the middle of the Warring States period, the Qin State first used the square hole round coin, and later the Qi State and the Yan State also imitated the casting.

    Ant nose money, also known as grimace money, is the southern Chu State of the minted copper coin, the shape is irregular oval, there is a Yin inscription on it, there is a kind of money like ants crawling on the bridge of the nose of people, so the name ant nose money; The other is like an ugly ghost, hence the name grimace money. The value is calculated in pieces, which is more convenient to use.

  7. Anonymous users2024-02-01

    "Knife coins" refer to knife-shaped copper coins popular in Qi, Yan, Zhao, Zhongshan and other places.

    "Cloth coin" refers to the copper coins in the shape of plutonium (money, shovel) that were popular in Zhou, Zheng, Wei, Han, Zhao, Wei, Yan, Chu and other places.

    "Huan Qian" refers to the copper coins that were popular in Qin, Zhou, Han, Zhao, Wei, Yan, Qi and other places, and "Antbi Coin (Turtle Shell)" refers to the copper coins that were popular in the Chu State.

  8. Anonymous users2024-01-31

    The basic unit of the won is the won. The unit of currency in South Korea is:"원"The Chinese character of Changlu is written as "round" or "yuan", and the pinyin is represented by "won" (which model). 1] The old name "won" is also sometimes used.

    The International Organization for Standardization (ISO) ISO 4217 has designated its standard code as KRW. Li Xun.

  9. Anonymous users2024-01-30

    It's North Korean. The character above is Kim Il Sung. It is not possible for Kim Il Sung to appear on the coins of the Korean Dynasty, and the coins of South Korea are not hail like this. Above Tuan Shikai is an old man with a long beard, a celebrity in ancient times, named Li Er.

  10. Anonymous users2024-01-29

    This is the North Korean currency, and it is an old currency.

  11. Anonymous users2024-01-28

    It looks like North Korean won, and I've had Korean won, and the avatar in it is not like this.

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