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.

Read Also:

Share on Social Media

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

title-img Related

READ MORE best time to visit Sikkim

Which Is The Best Time To Visit Sikkim? – Travel Guide

BY  Nabamita Sep 16, 2022

Sikkim is a small kingdom state tucked wavy into the lap of the Himalayas. It is known for its culture, heritage, and, of course, beautiful scenic beauty. Here in this beautiful city, you can experience a peaceful atmosphere among the mountains and the greenery. But do you know when the best time to visit Sikkim is? If not, then continue to scroll down this article. Welcome To Sikkim! Sikkim is among those places in India that you need to visit once to gaze upon the beautiful Kangchenjunga, the highest mountain peak in India and the third highest in the World. Here you will see the beautiful harmony between modern and traditional cultures and heritage. Tourists visit this beautiful state in India practically all year round. But like any other tourist destination, there is the best time to visit Sikkim as well. You can visit Sikkim with both your friends and always with your family. There is a lot to do for everyone here in Sikkim. Best Time To Visit Sikkim Whether you are visiting Sikkim for a solo or a big fat family vacation, or a getaway with your friends, these are the months you look for to travel. March - June ☀️July - October ☔November - February ❄️ 5c - 25c4c - 17c-5c - 7c Sikkim has a lot of beautiful places to visit with different scenic beauties. So the terrains and beauty you will witness in the North of Sikkim will be very different in South Sikkim. March - June March to June is considered the best time to visit Sikkim. The weather is pleasant, and you won’t have any problem traveling to different places. There won’t be any roadblocks like during winter or monsoon.  During this time, you can easily enjoy the beautiful flowers that will fully bloom during these months. And as for gazing upon the beautiful mountain peaks, you can easily see the Kanchenjunga due to the lack of rain or snow clouds. However, due to pleasant weather, the mountain peaks are visible. July - October From July to October, it is considered the monsoon season. The first few showers of rain nourish the mountains and the hills. It rejuvenates the beautiful green landscape. But it is advised that you not visit any hilly region during the monsoon months, as the danger of roadblocks and even landslides are dangerous for tourists. However, you can plan to stay here but try to avoid Northern Sikkim. November - February November to February are the winter months and the best time to visit Sikkim to see snow. The whole landscape is covered in a thick layer of beautiful fluffy snow, which looks like something out of a painting. If you are capable of handling the snow, then surely you should visit Sikkim during these months to experience it fully. If you are lucky enough, you can even witness snowfall here. So for Christmas, have a white winter wonderland here in Sikkim. Different Climates In Sikkim Like any other tourist destination, you can divide each season into months, and on the basis of that, you can plan your trip.  ☀️Summer In Sikkim The summertime in Sikkim is an enjoyable time for tourists to visit the hill station. Therefore, if you are looking for Sikkim best time to visit, then I will advise you during the summertime. But even though it is the summertime, don’t forget to bring woolen clothes, as the temperature might drop at any time. It is easier for sightseeing in such pleasant and clear weather. So it is the best time to visit Gangtok Sikkim, the Yumthang valley, and Rumtek Monastery. ☔Monsoon In Sikkim During the monsoon months, Sikkim usually gets heavy showers each year, and this causes roadblocks and landslides each year. Although the weather during these months is chilly, you can enjoy it a lot.  One of the best advantages of the months is that you can get many discounts on travel and hotels since it is off-season. So you can take advantage of that. ❄️Winter In Sikkim The snowy months are the best time to visit Sikkim Gangtok. The valley and the mountains are covered in beautiful layers of white snow; it is just like heaven. The temperature falls to -5 degree celsius, so don’t forget to bring enough warm clothes and gear along with you. Even though the weather is quite chilly, it is bearable, and you won’t feel any discomfort due to the cold. There are a lot of snow sports you can enjoy at this time, like snowboarding and skiing. So I would recommend to you the best time to visit Sikkim is during the winter months. Frequently Asked Questions (FAQs): Now that you know which is the best time to visit Sikkim, if you have any more questions, then here are some of the questions asked by others. 1. How Many Days Are Sufficient For Sikkim Trip? Ans: Sikkim is considered to be one of the most beautiful and heavenly places in India. So as to explore the place in its entirety, then you would require about 12-15 days to the max. But if you want to skip a few places, then you can say there for about 8 to 10 days as well. 2. Where Is Snowfall In Sikkim? Ans: To experience snowfall and snow, you have to travel towards Northern Sikkim. Places such as Yumthang Valley, Zero Point, and Gurudongmar Lake are a few of the areas in Northern Sikkim that experience snow and snowfall during the winter months. 3. Which Is The Coldest Place In Sikkim? Ans: The coldest place in the whole of Sikkim is a part of the Northern Sikkim called Zero Point. It is best for its snow-covered valleys and landscape. If you want to enjoy beautiful snow, then this is the place for you. Visit Now! Now that you know what the best time to visit Sikkim is, you can easily plan your next trip to Sikkim. Don’t forget to pack enough warm clothes and necessary gear to beat the chilly weather.  If you find this article helpful, then write down in the comment section which is your favorite hill station in India or in the World. Read Also: Best Time To Visit Himachal Pradesh – Himachal Pradesh Guide Which Is The Best Time To Visit Spiti Valley? – Travel Guide Top 7 Best Places To Visit In Darjeeling – Travel Guide

READ MORE Business Travel Booking

Top 10 Business Travel Booking Platforms of 2024

BY  Arnab Aug 4, 2023

As a crucial step in corporate travel management, business travel booking impacts both business travel experience and business travel costs. Employees often increase business travel risks and experience stress by booking the wrong travel products. Also, they escalate costs by booking business travel products at market rates. Your company or startup can streamline the cost-intensive process by implementing a business travel booking platform. The self-booking software will allow your employees to book their choice of travel products. At the same time, it will help them save money using deals, offers, and discounts provided by travel suppliers. We are making it easier for you to automate travel booking in 2024 by discussing some of the widely-used online platforms. Overview of 10 Most-Preferred Business Travel Booking Platforms of 2024 1. ITILITE This cloud-based travel management system helps firms automate multiple steps in corporate travel management, including business travel booking. ITILITE's business travel booking platform facilitates self-booking by enabling employees to access an extensive travel inventory customized according to organizational travel policies. In addition to supporting multiple payment options, the software enables employees to book their choice of flights, accommodations, and car rentals in minutes. Also, employees can use the same tool to find the best deals, manage travel bookings, and generate automated expense reports. 2. Corporate Traveler Corporate Traveler simplifies business travel booking by deploying personal travel consultants. Employees can connect with a travel consultant 24 hours a day simply by making a phone call. The consultant helps employees make and refine travel plans. Also, he helps employees remain safe and stress-free by booking the right travel products. However, employees can book their preferred travel products at discounted rates using the self-booking tool provided by this business travel booking platform. 3. TravelPerk This travel management system boosts bookings by increasing the size of travel inventory. Employees can use the self-booking tool provided by TravelPerk to access the extensive travel inventory. Also, they can use the same tool to book their preferred travel products. At the same time, the software helps employees save money on travel booking by getting corporate rates. Also, employees can use the tool to cancel bookings two hours before the schedule by paying 10% as fees. Organizations can leverage the features and tools provided by TravelPerk to automate additional steps in business travel management. 4. Corporate Travel Management (CTM) Corporate Travel Management (CTM) speeds up business travel booking by providing an intuitive self-booking tool. The tool is developed using CTM’s proprietary technologies. CTM further boosts its performance by enabling users to integrate it seamlessly with third-party tools. In addition to allowing employees to access an extensive travel inventory, the tool enables them to complete business travel bookings in minutes. However, CTM, unlike other corporate travel booking platforms, does not help employees to save money while canceling or rescheduling bookings. 5. American Express Global Business Travel (Amex GBT) The platform launched by a multinational financial service corporation comes with a one-stop solution. Employees can use the one-stop solution provided by Amex GBT to plan business trips, book travel products, and generate travel expense reports. While using this online platform, employees can access a large and diverse inventory of travel products. Employers can leverage the straightforward pricing model supported by this platform to enable employees to book travel products at negotiated rates. 6. Paxes This online platform streamlines corporate travel management using artificial intelligence (AI) technologies. It enhances travel choices and booking options by partnering with over 250 travel management companies. The self-booking tool provided by Paxes helps employees compare and book travel products in minutes. At the same time, employees can use the tool to book flights, hotels, and other travel products at discounted rates. Also, they can change bookings and manage itineraries using the software as a mobile app. Paxes helps employees manage travel challenges by sending real-time alerts. 7. Egencia This modern travel management platform meets the varying needs of enterprises by providing a slew of tools. Egencia simplifies business travel bookings by providing an easy-to-use online tool. The tool speeds up travel booking by synchronizing traveler data across devices. At the same time, it helps employees book their preferred travel products by accessing an extensive travel inventory. The exclusive rates provided by Egencia make it easier for employees to save money on business travel booking. 8. Concur Travel SAP Concur helps enterprises streamline corporate travel management by providing several online tools. Employees can use the online booking tool provided by this platform to book flights, rails, hotels, cars, and other business travel products in minutes. The tool enables them to book their choice of travel products. Also, it consolidates the booking data using a dashboard. The dashboard makes it easier for business travelers to access the relevant information on the go by accessing Concur Travel on mobile devices. 9. TripCase Unlike other corporate travel booking platforms, TripCase does not help employees book business trips. Instead, the mobile app focuses on helping employees manage and organize business trips. Employees can use the app to gather information about various travel brands. Also, they can use the mobile platform to access relevant itinerary information in seconds. The mobile alerts sent by TripCase help them manage itinerary changes and common travel risks like flight cancellations and delays. 10. Airbnb for Work Unlike older employees, millennial employees prefer homestays to hotels to experience the local culture and spend time with local people. The surge in demand for homestays led to the emergence of Airbnb for Work as a leading business travel booking platform. Airbnb for Work helps employees choose and book homestays and boutiques based on ratings and reviews of prior guests. Also, it enables them to make payments using a secure payment system. However, employees cannot use this platform to book flights, car rentals, and other essential business travel products. Conclusion While automating business travel booking in 2024, you have the option to choose from many digital services and online tools. But you can increase the ROI of business travel by prioritizing travel management software over travel booking platforms. In addition to facilitating self-booking, the software will help your firm streamline important steps in corporate travel management, like travel expense management and travel data management. Also, you can reduce the average business trip costs by implementing software provided by a travel management company. Read Also: How To Save Money On A Trip To Abu Dhabi 7 Tips To Make The Most Out Of Your Trip To Gatlinburg How To Use Videos To Drive Conversions In Travel Business

READ MORE things to do in el paso

Best 9 Things To Do In El Paso!

BY  Abdul Aziz Jan 17, 2024

Visiting El Paso? Curious about the things to do in El Paso? El Paso, located in the foothills of the stunning Franklin Mountains, is a vibrant and diverse community with a wide range of attractions and year-round fun. El Paso's attractions include a historic theater, concert venues, Spanish Colonial missions, museums, and beautiful state parks. Things To Do In El Paso If you enjoy being outside and want to visit one of Texas' most interesting cities, you should visit El Paso. Continue reading to get a sense of what Sun City has to offer. Also, click here to order a free travel guide to help you plan your next vacation. Here are some of the best things to do in El Paso: El Paso Mission Trail Explore El Paso’s early history by visiting the El Paso Mission Trail, which includes two 17th-century missions and a chapel built in the late 1800s. The oldest, which is the Ysleta Mission, was built in 1682. It is Texas’ oldest functioning parish. El Paso’s magic charm will sway you into the blue sky of romanticism and inspire you to move to Texas. Admire the white adobe-walled structures along the trail, then visit museums such as the Tigua Indian Cultural Center and the Los Portales Museum and Information Center. The El Paso Mission Trail, in addition to its attractions, hosts cultural festivals throughout the year. Ascarate Park Escape to nature at the 400-acre Ascarate Park, El Paso County's largest recreational area. Play a round of golf on the 18-hole, par-71 Ascarate Golf Course, explore the 48-acre lake by canoe or pedal boat, or enjoy some of the best fishing in the Southwest. In addition to baseball and soccer fields, the park has basketball, handball, sand volleyball, and tennis courts. Franklin Mountains Are you looking for adventurous things to do in El Paso? Here is one exciting option. The stunning Franklin Mountains frame El Paso, and the state park that encompasses the range is a breathtaking outdoor playground for adventure seekers. Hike and bike more than 100 miles of trails that wind through 27,000 acres of scenic desert terrain. Or you can go rock climbing at McKelligon Canyon's designated area. If you want to stay overnight, tent and RV campsites can be reserved. There are plenty of outdoor activities for people of all ages at the nation's largest urban state park. Hueco Tanks State Park and Historic Site Admire the ancient rock paintings left by Native Americans who traversed the West Texas desert in search of rainwater collected in natural rock basins. Hike rugged trails while keeping an eye out for any of the 200 bird species that call the area home. Explore world-class rock climbing and search for more than 1,000-year-old pictographs. Hueco Tanks State Park and Historic Site is open all year, with extended hours on weekends during the summer. This is one of the best things to do in El Paso for history buffs. Hueco Tanks is a collection of thousands of year-old rock outcrops. Previous residents had access to food, shelter, and farmland in the area. Today, visitors come to see the images left by previous inhabitants on the rock faces. Among the drawings are animals, masks, handprints, horses, as well as humans. Aside from viewing the pictographs and petroglyphs, visitors can go hiking, camping, bird watching, as well as rock climbing. However, certain areas of the park are only accessible via guided tour, and self-guided activities (such as hiking) may require reservations. Also, only 70 people can enter the self-guided portion of the park at one time. To make the most of your time at the site, make your reservations well in advance. Ysleta del Sur Pueblo Cultural Center When you visit this museum, you will learn about more than 14,000 years of regional prehistory. The museum's permanent collection includes ancient and modern artifacts as well as art from Native American cultures in the Southwest and Mexico, such as wood carvings, textiles, as well as pottery. After touring the museum, hike the nature trails that wind through 15 acres of gardens with 250 different types of native plants, all while enjoying breathtaking views of the Franklin Mountains. El Paso Zoo Explore the world's wildlife at the El Paso Zoo, a sprawling 35-acre green space near Downtown El Paso. The zoo is home to tigers, leopards, lions, giraffes, and other exotic animals from Africa, Asia, as well as the Americas. See these incredible animals, then visit family-friendly attractions like the African Star Train and the Hunt Family Desert Spring water feature before enjoying a delicious burger at one of the onsite eateries. Plaza Theatre At the historic Plaza Theatre, you can see famous musicians, classic films, magic shows, Broadway musicals, and much more. The theatre has been a hub of entertainment in El Paso since it first opened its doors in 1930. This is probably one of the best things to do in El Paso. It is now one of the city's top venues as well as the home of the Plaza Classic Film Festival, the world's largest classic film festival. More information about upcoming shows can be found on the theatre's website. United States Border Patrol This one-of-a-kind museum traces the history of the United States Border Patrol from the Old West to the present. The National Border Patrol Museum displays weapons, paintings, equipment, artifacts, photos, and even vehicles. Admission is free, and guided tours can be scheduled ahead of time. El Paso Desert Botanical Gardens The El Paso Desert Botanical Gardens are part of Keystone Heritage Park, which includes an archaeological site with a 4,500-year-old village, one of the oldest in the United States. The park includes wetlands that provide habitat for up to 200 different bird species, as well as a botanical garden that showcases the fauna of the Chihuahuan Desert. Stop by the El Paso Municipal Rose Garden, an All-American Rose Selection-certified garden, and smell over 1,900 rosebushes. Stroll along the wide, wheelchair-accessible walkways to see more than 500 varieties of roses waterfalls, as well as a plaza area with a Koi pond. This is one of the best things to do in El Paso for people with a deep love of nature. Wrapping Up El Paso offers something for everyone, whether your preference is to explore the trails or immerse yourself in history. The El Paso Mission Trail as well as Hueco Tanks State Park & Historic Site, are two locations where you can learn more about the region's 5,000-year history. Visit the Centennial Museum or the Magoffin Home State Historic Site to gain a deeper understanding of the area's past. Franklin Mountains State Park has some of the best trails for when the weather is right for outdoor activities. Enjoy the local arts scene at the Plaza Theatre or the El Paso Museum of Art to cap off your trip. If you want to know all the cool things to do in El Paso, we hope this article helps. If you have thoughts to share or questions to ask, please leave a comment below. We would love to hear from you! Read Also: Don’t Believe Them!! This Is Actually The Best Time To Visit Barbados! Things To Do In Maryland – Free Places To Visit In Maryland Planning A Vacation To Bali? Read This Blog!