QUOTE AND NEWS
The Economic Times  Feb 24  Comment 
The South Korean won rose to 1,127.6 per dollar at one point, its strongest level since Oct. 20. The won was last up 0.7 per cent on the day.
The Economic Times  Feb 23  Comment 
The South Korean won rose 0.4 per cent to 1,138 per dollar, edging back in the direction of a three-month high of 1,133 set last week.
Automotive World  Feb 7  Comment 
Hankook Tire announced its global financial results for the fourth quarter of 2016 with consolidated sales of KRW 1.61 trillion (1.295 billion Euro) and an operating profit of KRW 239.8 billion (192.2 million Euro). The company reported total...
newratings.com  Jan 25  Comment 
SEOUL (dpa-AFX) - Hyundai Motor Co., Ltd. (HYMLF.OB, HYMTF.OB) reported Wednesday reported that its fourth-quarter net income declined 30.1 percent to 1.07 trillion Korean won from last year's 1.53 trillion won. Operating income declined...
Forex News  Jan 20  Comment 
Mixed economic data from China hurt some of Asian currencies, but many of them managed to rise above the opening level by now, and the South Korean won was among them. While some currencies reacted negatively to the news from China,...
The Economic Times  Jan 20  Comment 
The South Korean won rose 0.7 per cent and most other emerging Asian currencies also clawed higher as the dollar lost momentum after the latest comments from Yellen.
The Economic Times  Jan 19  Comment 
Most Asian currencies retreated on Thursday, with the South Korean won falling 0.8 per cent and the Philippine peso slipping 0.3 per cent.
Forex News  Jan 13  Comment 
The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency. The KOSPI Index fell 0.5% today. The drop of the Korean stocks was led by Samsung shared, which lost 3%...
newratings.com  Jan 6  Comment 
SEOUL (dpa-AFX) - LG Electronics Inc. (LGEPF.OB, LGEJY.OB, LGEIY.OB, LGEAF.OB) said Friday that it expects operating loss for the fourth-quarter to be 35.3 billion South Korean Won, compared to operating profit of 349.0 billion Won in the prior...
The Economic Times  Dec 26  Comment 
The won was quoted at 1,201.4 to the dollar at the conclusion of onshore trade, up 0.1 per cent compared to Friday's close of 1,203.
newratings.com  Dec 26  Comment 




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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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