QUOTE AND NEWS
Bloomberg  Jul 31  Comment 
4:04 South Korea’s won completed the...
Automotive World  Jul 29  Comment 
Premium tyre manufacturer Hankook announces global sales revenue of KRW 1.66 trillion and operating profit of KRW 251.2 billion in the second quarter of 2014. Moreover, the company solidified its brand reputation as a global tyre company with...
The Economic Times  Jul 24  Comment 
South Korean won fell, headed for its worst day in more than a week, as second-quarter economic growth came in weaker than expectations & raised probability of an interest rate cut.
The Economic Times  Jul 23  Comment 
S Korean won edged up slightly for a third day of gains but investors were cautious ahead of second-quarter growth estimates and new government measures to boost the economy to be announced on Thursday.
The Economic Times  Jul 21  Comment 
The South Korean won edged up on Monday as foreign investors sold dollars as worry about global geopolitical tensions appeared to ease, while stocks ended flat.
The Economic Times  Jul 18  Comment 
South Korean markets had shown comparatively limited movement towards Ukrainian offshore geopolitical tensions earlier in the year.




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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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