QUOTE AND NEWS
The Economic Times  Jul 2  Comment 
The South Korean won slid on Thursday against a dollar that was broadly stronger following a batch of strong US economic data overnight.
The Hindu Business Line  Jul 2  Comment 
The South Korean won slid as the dollar was broadly stronger on solid economic United States data overnight and expectations that US jobs data due later on Thursday will be firm. The loc...
Mondo Visione  Jun 29  Comment 
The market capitalization of the KONEX hit the record high breaking through the  level of KRW 3 trillion on June 23 (KRW 3.012 trillion). This performance proved  the high growth rate of the KONEX market because it took only 3 months from...
The Hindu Business Line  Jun 26  Comment 
The South Korean won slid for a fourth straight session against the dollar on Friday as yet another failure by Greece to reach a deal with its foreign creditors dented the appetite for riskier ass...
The Hindu Business Line  Jun 24  Comment 
The South Korean won slid to a one-week low on Wednesday, as the dollar rose as investors saw increased prospects of a US Federal Reserve interest rate hike this year.The won closed local t...
The Economic Times  Jun 22  Comment 
The won closed local trade up 0.8 per cent at 1,098.8. The won touched as high as 1,097.5, the highest level since May 26.
The Hindu Business Line  Jun 22  Comment 
The South Korean won rose against the dollar on Monday, while Seoul shares edged higher, underpinned by new proposals from Greece to foreign creditors to avert a debt default. The local cur...
The Hindu Business Line  Jun 19  Comment 
The South Korean won erased early gains and stood flat against the dollar on Friday, tracking the weakening Japanese yen after the Bank of Japan’s decision to hold policy steady.The won was...
The Hindu Business Line  Jun 12  Comment 
The South Korean won extended falls against the dollar on Friday as investors shunned riskier assets after a setback in Greece’s debt talks and as foreigners sold local equities.The won end...
The Economic Times  Jun 11  Comment 
The South Korean won eased as the Bank of Korea cut interest rates to offset the harmful economic effects from an outbreak of MERS.




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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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