QUOTE AND NEWS
Mondo Visione  Apr 13  Comment 
Today’s KOSPI reached 2,087p, which broke the previous record in 3 years and 8 months, and market capitalization also posted an all-time high of KRW 1,304 trillion. ※ For more details, please refer to the attached file. File ...
The Hindu Business Line  Apr 1  Comment 
The won rose more than half-a-per cent against the dollar on Wednesday on a globally softer dollar and after South Korea posted a record monthly trade surplus for March.The won finished ons...
The Hindu Business Line  Mar 26  Comment 
The South Korean won was set to snap a three-day streak of gains early on Thursday, edging lower versus the dollar as local currency dealers said they believed Seoul’s foreign exchange authorities...
The Hindu Business Line  Mar 24  Comment 
The South Korean won extended gains to hit a more than two-week high on Tuesday as uncertainty over the timing of US interest rate hikes lifted some emerging-market currencies.The won finis...
The Economic Times  Mar 19  Comment 
The won's percentage gain was the largest since Feb. 13, as it finished onshore trade up 1.1 percent at 1,117.2 per dollar, compared to a previous close at 1,129.9.
The Hindu Business Line  Mar 16  Comment 
The South Korean won fell to a 20-month low against the dollar ahead of the Federal Reserve’s policy meeting this week and growing expectations for an early rise in US interest rates. Th...
The Hindu Business Line  Mar 12  Comment 
The South Korean won touched a fresh 20-month intra-day low, while lead bond futures rose on Thursday after the central bank unexpectedly cut its base rate by 25 basis points to revive growth.
The Economic Times  Mar 10  Comment 
The South Korean won on Tuesday fell to its weakest level against the dollar since late August 2013, pressured by broad dollar strength.
Mondo Visione  Mar 9  Comment 
The Korea Exchange (KRX) announced that the number of listed corporations that disclosed cash dividend payout for 2014 fiscal year (December 1, 2014 - February 27, 2015) increased 64 year on year to 714 with the total amount of dividends paid...




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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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