All You Need To Know About Korean Currency Rate And Money

May 19, 2023

Last Updated on: Aug 22, 2025

Travel Guides

For avid travelers and investors, the Korean currency rate can be a fascinating topic of discussion. Understanding the fluctuations of the won against other currencies can give insights into its economy.

Likewise, it could say much about Korea’s political developments and investors’ sentiment in the market.

This article will explore everything about the Korean currency rate. As such, we will cover the basic conversion rates to the impact of major events on the Korean economy.

History Of Korean Currency

South Korean currency has rich historical data that dates back to the early dynasties of Korea. It all started with the use of cowry shells and pearls as currency. As time passed, metal coins and paper money became popular.

The Japanese occupation of Korea introduced the Japanese yen as the official currency. Yet, in 1945, the Korean won was introduced and became the official currency.

Interestingly, the won was initially divided into 100 jeon, but the jeon was eliminated in 1960. The won has undergone many transformations to ensure price stability and economic growth. In modern times, the South Korean won is the official currency used in South Korea.

Today, the value of the South Korean won fluctuates with the global exchange rates. It’s one of the world’s top 20 currencies by value.

Current South Korean Won Exchange Rate

Knowing the latest exchange rate for the Korean won can be helpful in budgeting and forecasting your finances. As of January 2023, the exchange rate for Korean won is fluctuating depending on the global market and demand.

Below are some of the latest conversion rates:

  • 1 US dollar = 1,315.29 Korean won (USD to KRW)
  • 1 Australian dollar = 893.35 Korean won (AUD to KRW)
  • 1 Chinese yuan = 192.07 Korean won (CNY to KRW)
  • 1 Japanese yen = 9.90 Korean won (JPY to KRW)

However, exchange rates may vary depending on banks’ locations and policies.

Check exchange rates online through various currency converter websites to ease the currency conversion. Alternatively, download an exchange rate or currency calculator app. With these tools, you can convert your dollars to South Korean won (USD – KRW) or any other currency at the current rate.

Banknotes And Coins

Banknotes and coins in South Korea are not only used for daily transactions. Yet, they also hold significant cultural value. As such, these banknotes come in different denominations and colors.

For instance, the 1,000-won note features a Confucian scholar. Then, the 10,000 won note features Admiral Yi Sun-sin, known for his naval victories against Japan.

Meanwhile, the 50,000 won note features Shin Saimdang, a prominent female artist. Besides that, she was the mother of the famous Korean painter Yi I. These banknotes represent important historical figures and showcase various artistic designs.

Similarly, Korean coins are equally fascinating, with 10, 50, 100, and 500 won denominations. Each coin features a different symbol that holds cultural significance.

The 500-won coin features the portrait of King Sejong, who invented the Korean alphabet. Meanwhile, the 100-won coin features the image of a crane, symbolizing longevity and good fortune in Korean culture.

When visiting South Korea, carry some local currency as most stores prefer cash transactions. Foreign exchange markets are available in major cities, but it is crucial to know exchange fees as they vary.

Overall, banknotes and coins in South Korea hold monetary value and capture the country’s cultural heritage. Visit the Bank of Korea to learn more about their banknotes and coins.

Money-Handling And Etiquette

As with any country, knowing the cultural norms when handling money in South Korea is good. As such, for Koreans, money is not just a means but a representation of energy.

Below are some key points to note:

  • Cleanliness is crucial. Many Koreans believe money represents energy and keep their bills and coins as clean as possible. Hence, you will rarely see crumpled or dirty bills in circulation. Besides that, many Koreans carry cash and coins in wallets and change purses. For them, it is not just a convenient way to have cash but a way to keep it clean and maintain the money’s energy.
  • Respectful giving and receiving. When giving or receiving money, using both hands for respect is customary. This act is particularly true when exchanging money with older people or of a higher status than you.
  • No throwing or placing on the floor. Throwing money or putting it on the floor is considered disrespectful. If you drop a coin or bill, pick it up immediately. Likewise, people usually place money on a designated tray or hand it directly to the receiver.
  • Cash vs. Card. Credit cards are widely accepted in Korea. Yet, having some Korean won for small transactions or in areas that only accept cash is always good.

Keep this Korean currency rate information. Doing so will allow you to navigate financial transactions in South Korea with ease and respect for the country’s cultural norms.

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Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

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What Are The Unique Things To Do In Malacca? Know The Malacca Tourist Attractions 

BY  Sibashree Jan 28, 2026

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From Festivals to Spas: The Top Things to Do in Park City Utah 

BY  Abdul Aziz Feb 22, 2024

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BY  Ankita Mar 21, 2024

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You can visit some of the historic and cultural sites of the city, such as the Old Governor's Mansion, the Georgia's Old Capital Museum, the Andalusia Farm, and the Lockerly Arboretum. You can also enjoy some of the outdoor activities, such as kayaking, fishing, and biking, that are available in the city. Milledgeville is a fascinating place to visit, as it shows you the heritage and the creativity of Georgia. 4. Macon Macon is a city that is located 85 miles south of Atlanta. It is known as the "Heart of Georgia", as it is located in the geographic center of the state. It is also known as the "Song and Soul of the South", as it has a rich musical history and culture. You can visit some of the musical landmarks of the city, such as the Otis Redding Museum, the Allman Brothers Band Museum, and the Georgia Music Hall of Fame. You can also visit some of the other attractions of the city, such as the Ocmulgee National Monument, the Hay House, and the Cherry Blossom Festival. Macon is a fun place to visit, as it offers a lot of entertainment and excitement. 5. Dublin Dublin is a city that is located 120 miles southeast of Atlanta. It is a friendly and festive city, that celebrates its Irish heritage and culture. You can visit some of the Irish-themed attractions of the city, such as the Dublin-Laurens Museum, the Shamrock Bowl, and the St. Patrick's Day Parade. You can also visit some of the other attractions of the city, such as the Market on Madison, the Theatre Dublin, and the River Bend Wildlife Management Area. Dublin is a delightful place to visit, as it offers a lot of charm and cheer. 6. Statesboro Statesboro is a city that is located 55 miles northwest of Savannah. It is a college town, as it is the home of the Georgia Southern University, the largest public university in Georgia. You can visit some of the campus attractions, such as the Georgia Southern Museum, the Center for Wildlife Education, and the Botanic Garden. You can also visit some of the other attractions of the city, such as the Averitt Center for the Arts, the Statesboro Farmers Market, and the Splash in the Boro Water Park. Statesboro is a lively place to visit, as it offers a lot of culture and fun. 7. Savannah National Wildlife Refuge Savannah National Wildlife Refuge is a wildlife refuge that is located on the border of Georgia and South Carolina, along the Savannah River. It is a 31,551-acre refuge that protects and preserves various habitats and species, such as marshes, forests, wetlands, and islands. You can see animals such as alligators, deer, otters, bobcats, and over 300 species of birds. You can also enjoy hiking, biking, fishing, hunting, and photography in the refuge. Savannah National Wildlife Refuge is a great place to visit, as it offers a chance to experience the wildlife and the nature of Georgia. 8. Tybee Island Tybee Island is a barrier island that is located 18 miles east of Savannah. It is a popular destination for beach lovers, who can enjoy swimming, surfing, kayaking, fishing, and boating. The island also has a pier, a pavilion, a lighthouse, a museum, and a marine science center. Tybee Island is a wonderful place to visit, as it offers a relaxing and enjoyable experience. 9. Historic District The historic district is the heart and soul of Savannah. It is the largest National Historic Landmark District in the US, and it features over 20 squares that are filled with monuments, fountains, gardens, and statues. You can also see some of the most beautiful and historic buildings in the city, such as the Cathedral of St. John the Baptist, the Mercer Williams House, and the Davenport House. You can take a guided tour, hop on a trolley, or simply walk around and admire the architecture and the atmosphere of the historic district. 10. River Street River Street is a lively waterfront area that offers a variety of shops, restaurants, bars, and entertainment. You can browse the boutiques, sample the local cuisine, listen to live music, or watch the ships go by. You can also take a riverboat cruise, a ferry ride, or a water taxi to see the city from a different perspective. River Street is especially festive during the holidays and the events, such as the St. Patrick's Day Parade, the Fourth of July Fireworks, and the Oktoberfest. Wrapping It Up! A road trip from Atlanta to Savannah is a scenic and adventurous way to explore the diverse and beautiful attractions of Georgia. You can see the stunning scenery, the historic landmarks, the quaint towns, and the fun activities that lie between the two cities. Also, you can enjoy the flexibility, the convenience, and the adventure of driving your own car. You can stop whenever and wherever you want, and discover the hidden gems that you might otherwise miss. By following the tips and tricks that I have provided in this article, you can plan and enjoy your road trip from Atlanta to Savannah. I hope that this article has given you some ideas and inspiration for your road trip itinerary. Have a great time on your road trip from Atlanta to Savannah!. Read Also: From Hiking To Stargazing: The Top 10 National Parks In Utah! The Best Mountain Getaways In Washington: Where To Stay, What To Do, And How To Relax A Guide To Adventure And Nature: The Best Things To Do In Moab Utah For Outdoor Enthusiasts