QUOTE AND NEWS
newratings.com  Jul 26  Comment 
SEOUL (dpa-AFX) - Hyundai Motor Co., Ltd. (HYMLF.OB, HYMTF.OB) reported that its net income for the second-quarter declined 1.5 percent 1.76 trillion Korean Won from last year's 1.79 trillion won. Operating Income rose 0.6% to 1.76 trillion...
The Economic Times  Jul 25  Comment 
The won was quoted at 1,137.0 to the dollar at the conclusion of onshore trade, down 0.2 per cent compared to Friday's close of 1,134.4.
The Economic Times  Jul 12  Comment 
Offshore investors have been net buyers for four consecutive sessions, purchasing a net 192.9 billion won ($168.03 million) worth of KOSPI shares on Tuesday.
The Economic Times  Jul 11  Comment 
Foreign investors were poised to be net buyers, purchasing 135.2 billion Korean won ($117.62 million) worth of KOSPI shares near mid-session, buttressing the index.
The Economic Times  Jul 8  Comment 
Offshore investors were poised to be sellers, offloading a net 61.6 billion Korean won ($53.18 million) worth of KOSPI shares near mid-session, weighing on the index.
The Economic Times  Jul 6  Comment 
Market heavyweight Samsung Electronics Co Ltd was down 2.5 percent, while steelmaker Posco lost 3.1 percent.
The Economic Times  Jul 5  Comment 
The South Korean won extended falls and was quoted at 1,155.4 to the dollar at the conclusion of onshore trade, down 0.7 percent compared to Monday's close of 1,146.9.
The Economic Times  Jun 27  Comment 
The won was quoted at 1,182.3 to the dollar at the conclusion of onshore trade, down 0.2 percent compared to Friday's close of 1,179.9.
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.




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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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