The 韩元 is the currency of 韩国. Our currency rankings show that the most popular 韩元 exchange rate is the KRW to USD rate. The currency code for Korea (South) Won is KRW, and the currency symbol is ₩. Below, you'll find 韩元 rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the Xe Currency Blog, or take KRW rates on the go with our Xe Currency Apps and website.
In 1633, the Korean Mun, made up of copper and bronze coins, was made the principal currency of Korea. The Mun was used for over two centuries, until it was replaced in 1892 by the Yang, the first decimalized Korean currency. In 1902, the Won was introduced as the official currency of Korea, with an exchange rate of 1 Won to 5 Yang. The Bank of Korea was established in 1909, but changed its name to Bank of Joseon when Korea was annexed by Japan one year later. Under Japanese rule, Korea was forced to adopt the Korean Yen, replacing the Won at par.
Following World War II, in 1945, South Korea established the Won as the country’s official currency, replacing the Yen at par. The Won was originally pegged to the US Dollar at a rate of 15 Won to 1 Dollar, with the peg rate changing multiple times until 1951. Due to the drastic drop in value, the currency was yet again replaced. In 1953, the Korean Hwan was introduced at a rate of 1 Hwan to 100 Won. In 1962, a second Korean Won was established, replacing the Korean Hwan at a rate of 1 KRW to 10 Hwan. Again the Won was fixed to the US Dollar with the peg rate changing multiple times until 1997, when it began to float freely in the market.
|Minor unit||1/100 = Jeon|
|Minor unit symbol||Jeon|
|Top KRW conversion||KRW to USD|
|Top KRW chart||KRW to USD chart|
|Coins||Freq used: ₩100, ₩500|
Rarely used: ₩1, ₩5, ₩10, ₩50
|Bank notes||Freq used: ₩1000, ₩5000, ₩10000, ₩50000|
|Central bank||The Bank of Korea|
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