QUOTE AND NEWS
The Hindu Business Line  Jan 29  Comment 
The South Korean won was driven lower on Thursday by strengthening expectations of an interest rate cut from the Bank of Korea, after Singapore’s unexpected policy easing on Wednesday put pressure...
The Economic Times  Jan 28  Comment 
The local currency was quoted at 1,084.5 to the dollar at the conclusion of onshore trade, compared to 1,079.8 seen at the end of Tuesday's session.
The Hindu Business Line  Jan 22  Comment 
South Korean shares closed nearly flat while the South Korean won fell by a whisker on Thursday, with broader market activity seen subdued ahead of the European Central Bank’s (ECB) policy decisio...
The Hindu Business Line  Jan 15  Comment 
The South Korean won pared losses, while bond prices extended falls on Thursday, after South Korea’s central bank held its policy interest rates steady, as some investors had priced in expectations...
The Economic Times  Jan 14  Comment 
The won was quoted at 1,082.2 to the dollar at end of domestic trade, compared to 1,083.5 at Tuesday's session close.
The Hindu Business Line  Jan 12  Comment 
The South Korean won climbed against the dollar en route to its highest close in more than two months, after an unexpected fall in US wages disappointed dollar bulls betting on an early rate hike...
The Economic Times  Jan 12  Comment 
The Korea Composite Stock Price Index (KOSPI) was down 0.17 percent at 1,921.39 points as of 0210 GMT, floating just above its 20-day moving average of 1,918.36 points.
The Economic Times  Jan 8  Comment 
The South Korean won edged higher after a choppy session, underpinned by foreign capital inflows as risk appetite picked up on the positive US data.




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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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