QUOTE AND NEWS
The Economic Times  Sep 1  Comment 
The won was up 0.9 percent at 1,171.4 as of 0447 GMT, after strengthening as far as 1,170.2.
The Economic Times  Aug 31  Comment 
The South Korea won was down 0.8 percent at 1,182.9 per dollar as of 0222 GMT, set to break a four-day gaining streak.
The Economic Times  Aug 17  Comment 
The South Korean won and stocks fell on Monday as Friday's upbeat US economic data underpinned prospects of a Federal Reserve rate hike.
The Economic Times  Aug 13  Comment 
The won closed local trade up 1.4 per cent to 1,174.0 against the dollar, marking the sharpest one-day per centage gain since Dec. 2011.
The Economic Times  Aug 11  Comment 
South Korea's won and shares fell sharply on Tuesday after China's devaluation of the yuan early on Tuesday sparked caution among investors.
The Economic Times  Aug 5  Comment 
The South Korean won fell to a new three-year low against the dollar by midday on Wednesday, mirroring the dollar's renewed strength.
Mondo Visione  Jul 30  Comment 
On June 29th, 2015, the basic deposit for the KONEX market was lowered from KRW 300 million to KRW 100 million. Lowered basic deposit brought an immediate and significant result on the market. Both the trading volume and the number issues with...
The Economic Times  Jul 28  Comment 
The South Korean won erased earlier losses and closed higher against the dollar on Tuesday on easing risk-off sentiment.
Mondo Visione  Jul 27  Comment 
  The KRX KONEX market hit a new record with the breakthrough of KRW 4 trillion level (KRW 4.089 trillion) in the market capitalization on July 21. As an achievement made a month after the breakthrough of the KRW 3 trillion on June 23, 2015...
The Economic Times  Jul 20  Comment 
The won ended local trade 0.4 per cent lower at 1,152.1 to the dollar. The won fell as low as 1,153.6 during the session, its weakest since June 26, 2013.




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A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates.

The won has been in use for thousands of years. During the Colonial era , the won was replaced at par by the yen, made up of the Korean yen. In 1945 after World War II, Korea became divided, resulting in two separate currencies, both called won, for the South and the North. Both the Southern won and the Northern won replaced the yen at par. The first South Korean won was subdivided 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

The Bank of Korea is the only institution in South Korea that has the right to print banknotes and mint coins. The banknotes and coins are printed at KOMSCO, a government-owned corporation, under the guidance of the Bank of Korea. After the new crisp banknotes and coins are printed/minted, they are bundled up in bundles/rolls and shipped to the Headquarters of the Bank of Korea. When delivered, the banknotes and coins are deposited inside the Bank's vault, ready to be distributed to commercial banks when requested. Every year, around Seollal and Chuseok, two major Korean holidays, the Bank of Korea distributes large amount of its currency to most of the commercial banks in South Korea, which are then given to their customers upon request.

The chart at left shows the USD/KRW currency pair; the number of Korean Won equivalent to 1 U.S. Dollar (USD).

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