QUOTE AND NEWS
The Economic Times  Jun 22  Comment 
Offshore investors were poised to be net sellers, offloading 7.4 billion Korean won ($6.40 million) worth of KOSPI shares near mid-session.
The Economic Times  Jun 10  Comment 
The currency gained 1.5 percent for the week, its biggest weekly gain since mid-March of this year.
Insurance Journal  Jun 9  Comment 
Insurance broker Arthur J. Gallagher & Co. has acquired KRW Insurance Agency Inc. located in Crystal Lake, Ill. Terms of the transaction were not disclosed. Established in the 1940s, KRW Insurance Agency (KRW) is a retail insurance broker...
The Economic Times  Jun 9  Comment 
The won was quoted at 1,156.0 to the dollar at the conclusion of onshore trade, up 0.1 percent compared with Wednesday's close of 1,156.6.
BBC News  Jun 9  Comment 
South Korea's currency slides in value after the country's central bank unexpectedly cuts its benchmark interest rate to a new record low.
Reuters  Jun 8  Comment 
* Arthur J. Gallagher & Co. Acquires KRW Insurance Agency, Inc. Source text for Eikon: Further company coverage:
The Economic Times  May 30  Comment 
She expects the won to fall to the 1,200 level if U.S. economic data expected in coming days adds to rate increase expectations.
The Economic Times  May 23  Comment 
Offshore investors were poised to be buyers, but the amount was small in early trade, standing at a net 2.7 billion Korean won ($2.28 million) worth of KOSPI shares.
The Economic Times  May 19  Comment 
South Korean shares were headed for their second session of losses as foreign investors and local institutions continued selling for a third day on worries over a Fed rate hike.
The Economic Times  May 18  Comment 
The South Korean won slipped to the lowest level since mid-March of this year as the dollar perked up. The KOSPI closed down 0.6 percent at 1,956.73 points.




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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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