QUOTE AND NEWS
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.
The Economic Times  May 17  Comment 
Offshore investors were set to be net sellers, offloading 44.1 billion Korean won ($37.57 million) worth of KOSPI shares near mid-session, weighing on the index.
The Economic Times  May 16  Comment 
Foreign investors purchased 37.9 billion Korean won ($32.17 million) worth of KOSPI shares near mid-session, buttressing the index.
The Economic Times  May 13  Comment 
Foreign investors were poised to be on the negative side of trading, selling 81.3 billion Korean won ($69.68 million) worth of KOSPI shares near mid-session.
The Economic Times  May 12  Comment 
The South Korean won saw the largest short positions since early March after enjoying bullish bets in nearly two months, according to the survey.
The Economic Times  May 10  Comment 
Data showed the U.S. economy added the fewest jobs in seven months in April, leaving some economists to anticipate only one rate hike this year.
The Economic Times  May 4  Comment 
The South Korean won dropped to its lowest level in near three weeks on Wednesday, pressured by weak Chinese factory activity reports and a slump in global equities.
The Economic Times  Apr 25  Comment 
Analysts said market participants will also closely watch a policy meeting by the Bank of Japan that is also this week.
The Economic Times  Apr 22  Comment 
The South Korean won snapped three days of gains and dropped as much as 1.0 percent on Friday, hit by profit-taking and as the dollar stayed resilient.




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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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