QUOTE AND NEWS
MarketWatch  May 24  Comment 
The South Korean won plummeted as President Donald Trump canceled the U.S.-North Korea summit scheduled to be held in Singapore next month. The U.S. dollar gained 0.7% on South Korea's currency , last fetching 1,084.89 won. The won-Japanese yen...
Reuters  Mar 7  Comment 
Most Asian currencies firmed on Wednesday as the dollar weakened as the news U.S. President Donald Trump's economic adviser Gary Cohn is resigning caused fears of fresh tariffs and a trade war.
The Economic Times  Dec 28  Comment 
The Chinese yuan gained 0.2 per cent, snapping two straight losing days.
Reuters  Nov 30  Comment 
The South Korean won fell more 1 percent on Thursday, with investors shaken after the central bank governor raised concerns about the job market and other uncertainties after hiking interest rates for the first time in over six years.
MarketWatch  Nov 28  Comment 
The Korean won surged to a new high since May 2015 versus the U.S. dollar on Wednesday, and defended its gains even as Pyongyang launched another missile, threatening to raise tensions in the region.
Financial Times  Nov 28  Comment 
South Korea’s won leads the charge as investors’ focus turns to monetary policy
The Economic Times  Oct 20  Comment 
The South Korean won edged up, supported by foreign inflows into stocks.
Financial Times  Oct 12  Comment 
Korean won and Indonesian rupiah look cheap, says BofAML
TechCrunch  Sep 28  Comment 
 The parent company of games giant Nexon has confirmed that it acquired Korea’s second largest cryptocurrency exchange, Korbit, in a deal that values it at just over $120 million. A spokesperson from NXC, the corporation which owns $11.5...




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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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