QUOTE AND NEWS
The Economic Times  Jul 18  Comment 
South Korean markets had shown comparatively limited movement towards Ukrainian offshore geopolitical tensions earlier in the year.
Forex News  Jul 16  Comment 
The South Korean won declined today as comments of South Korea’s official made Forex market participants speculate that nation’s policy makers may perform an interest rate cut.(...)Read the rest of South Korean Won Drops on Interest Rate...
The Economic Times  Jul 16  Comment 
Foreign investors purchased a net 61 billion Korean won ($59.1 million) worth of KOSPI shares near mid-session.
Reuters  Jul 16  Comment 
South Korea's emission trading to start next year will cost a total of 27.5 trillion Korean won ($26.64 billion) for the next three years and should be delayed to 2020, a business lobby group said.
The Economic Times  Jul 16  Comment 
Foreign investors purchased a net 61 billion Korean won ($59.1 million) worth of KOSPI shares near mid-session.
Financial Times  Jul 15  Comment 
Won suffers biggest daily drop against the US dollar since February, when emerging markets took a battering on fears of Fed rate increases
The Economic Times  Jul 14  Comment 
On Seoul's main stock market, the Korea Composite Stock Price Index (KOSPI) rose 0.4 per cent to 1,995.80 points as of 0318 GMT from Friday's close at 1,988.74.




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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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