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 Money-Saving and Practical Packing Tips

Traveler’s Must-Know! 5 Money-Saving and Practical Packing Tips

BY  Ankita Jun 12, 2024

My dear fellow adventurers! Are you looking to start the next thrilling journey? Well, grab your backpacks and hereafter get ready.  We have come up with some insider tips that will help you save your money and ease your packing experience.  We've gained extensive experience in efficient packing, which helps us find the best travel gear. Today, we will discuss the five essential tips to transform the way you pack successfully.  In addition, it will enable you to be fully prepared for your adventures. In this article, we will discuss some fantastic products that will make your travels even more enjoyable.  Tip 1: Invest In A Reliable Travel Bag Imagine you are dashing through the airport, aiming to catch your flight. Suddenly, disaster strikes.  The strap of your flimsy bag opens, resulting in scattering all your belongings on the pavement. What a nightmare! This is why you must invest in the most durable travel bags. This is an absolutely crucial development.  However, we understand what a travel bag means to you. The collection of sturdy and stylish chest bags is designed to combat the ravages of inclement weather. You need these sturdy friends, especially in relation to globetrotting. For example, you can take the Not My Type Techwear Backpack. These bags have a futuristic design with adjustable straps and a front zipper pocket, guaranteeing superior mobility and ample storage space.  Hence, whether you prefer convenience; the sleekness of a messenger bag, or versatility,  their range of features offers coverage safeguarding.  Trust us: a good-quality, sturdy travel bag can save you from the stress and inconvenience of inclement weather at any time during your journey.  Tip 2: Pack Smart And Light Next, we add the traveling light to the list. They are magical, to say the least. Not only can easily save a lot on your baggage fees. But simultaneously, you get the freedom to explore without feeling weighed down.  So, how can you pack smart and efficiently? Well, it's all about space-saving and minimizing wrinkles (stress).  Hence, instead of folding your clothes, roll them tightly. This space-saving technique can help bring down the creases and make unpacking a breeze. Need a pro tip?  Stuff your underwear and socks with travel essentials and optimize every inch of space efficiently.  To take your packing game to the next level, take a look at the fantastic range of packing cubes that are available on Techwear Official's website.  However, the clever organizers can help you make your life easier while traveling.  Besides, they help you keep your clothes compartmentalized with the utmost neatness. Thus, you can stay organized, and you can easily find your requirements during your journey. Tip 3: Stay Organized With Packing Cubes Let's face it: Opening the suitcase to search for a chaotic mess is every traveler's nightmare.  Moreover, you may feel it is like solving a puzzle while jet-lagged. That's where packing cubes can be most helpful.  Moreover, these ingenious small wonders are extremely effective. They help you stay organized on the road. However, packing cubes of different sizes effectively segregates your clothing items.  As a result, it will help you easily find your favourite shirt or pair of socks buried deep inside your travel bag.  Moreover, the Techwear Official offers you the most durability and style. The packing cubes with compartments and compression zippers can help maximize your space. Once you try them, you will feel their indispensability. Tip 4: Bring A Portable Charger In our digital age, staying connected while traveling is essential. Whether it's capturing breathtaking moments with your camera or navigating through unfamiliar streets with your smartphone, our devices need to stay powered up.  That's why a portable charger is a travel essential of a true game-changer. We suggest you pick ones that have a compact design, high power capacity, and fast-charging capabilities, so you'll never have to worry about running out of battery again.  Just imagine the relief of finding a charging point at the airport and realizing you don't have to fight over it with other desperate travelers.  However, having a portable charger stashed in your backpack will ensure that you never run out of power during your exciting adventures.  Tip 5: Save Money With A Travel Money Belt Now, let's talk about keeping your valuables safe. As much as we love exploring new destinations, it's essential to protect our passports, cash, and cards from pickpockets or accidental loss.  That's where the humble travel money belt comes into play—a discreet and reliable solution to keep your valuables secure.  If you already consider the cleverly designed belts, which come with hidden compartments to store your essentials safely without worrying about your valuables—trust me, you are already there! Who does not want an extra layer of security and freedom to explore with peace of mind? Tip To Consider While Buying Money saving Travel Products The discussion above was about some smart products that can save you money. Each has its own advantages.  However, in this section, we discuss some of the considerations when buying them. Of course, you can not buy these products just randomly. So, without further ado, let's get started with the discussion. First, Figure Out Where You Usually Spend Money Budgets will be a concern when managing the new destination. Hence, you have to be calculative right from the beginning when managing your economy.  Do not worry; you just have to be mindful of how much you want to spend on buying travel-related products.  Moreover, you have to be mindful when figuring out your priorities. Finally, to keep your finances in shape, you have to be honest with your spending habits during the trips.  Consider The Size And Space  Now that you are buying the aforementioned travel products to save money, you have to consider their worth. Remember, not all travel-related products may be worth it to you.  However, being portable, compact, and durable can help you save space, which is one of the big factors. Hence, considering the space and size of the products becomes one of the important elements attached to your travel outing. Consider The Price Vs. Value You must consider the price and value of the products before you make the purchase. It's always better to avoid the cheaper products, as they can easily save you money. However, in the long run, you may have to suffer worse situations during your travels, which will surely add salt to your wound.  Therefore, you should not compromise on buying high-quality products. Also, the value and utility of the product should be considered before selection. For example, if you purchase a digital translator, it's a great investment for anyone who travels internationally frequently.  Therefore, you have to be calculative when you buy these money-saving travel-related products. Your best decision on the purchase is the sole determiner on whether you can optimize the products. Simply triggered by the fear of missing out (FOMO) and buying them without consideration can not serve your purpose well.  Putting The Discussion To A Close Your travel experience must always be hassle-free and easy. One of the most important things is to consider the money you are spending. The products that we discussed are all effective, and they serve your purpose to the fullest. Hence, consider the above points and buy them for your safety and convenience. Additional Reading: Your Unique Travel Packing Guide Must Pack Business Travel Packing List Along With Tips 6 Expert Packing Tips That Will Make Your Trips More Fun

READ MORE is cabo san lucas safe

Is Cabo San Lucas Safe? – Let’s Find Out!

BY  sagnika Jun 26, 2023

Are you considering making travel plans to visit Cabo San Lucas? The ultimate destination for adventurers can be dangerous because of the harsh weather and increasing crime rates. Want to know is cabo san lucas safe? Cabo San Lucas is 20 meters above sea level, while the geographical location is 22.88 degrees North and 109.90 degrees West. Thomas Ritchie founded the place in 1828. The climate of Cabo is a tropical thorn forest. However, there is a certain desert terrain spread. A critical icon can be found in the area, The Arch. In Spanish, "El Arco" is the natural stone arch that is well known worldwide and a symbol of Cabo San Lucas. Read the article to learn more about it. Also Read: How To Find The Best Ontario Cocaine Rehab Center? Is Cabo San Lucas Safe? Let's Find Out! Cabo San Lucas is situated in Mexico with picturesque beaches. It is a popular tourist destination rich in culture and boasting sumptuous local food. Almost 2.8 million travelers visit Cabo annually, and there are repeat visitors. The coastal life experience that Cabo San Lucas offers is quite beautiful at a meager price as compared to many other popular tourist destinations. The place is more alluring than other beach destinations, and the good annul the bad regarding tourism. The question arises Cabo San Lucas is safe because in recent times. The country of Mexico is going through a crisis of cartel warfare and drug-related violence. The U.S. government has issued a warning regarding the travel advisories in Mexico, and Cabo has been excluded. Cabo is a popular tourist spot and is considered safe for visitors. Yet some issues might put tourists at risk in recent times. Where Is Cabo San Lucas Situated? Cabo San Lucas is situated in the Baja California peninsula on the West Coast of Mexico at the southern tip. The overall positioning of the place is in the southeast of California, USA. Tourism In Cabo San Lucas The tropical weather in Cabo is perfect for visitors. The white sandy beaches and glistening blue waters create the perfect backdrop for tourists walking barefoot. Thousands of tourists frequent Cabo every month. There are certain things that you need to consider when you are traveling to Cabo, such as you should only buy bottled water, always staying in groups, and don't dress up too flashy. As a visitor, you must know that there are no lifeguards. Hence, you should always have local contacts who can help you. You must book with trusted sources for accommodations. How To Reach Cabo San Lucas? The time to reach Cabo San Lucas by flight from New York, Vancouver, Canada, and Chicago is 5 hours, while from Seattle and Atlanta, it takes 4 hours. Traveling from San Francisco to Cabo will take 3 hours, while from Dallas and Los Angeles, your flight will be two and a half hours long. Crime In Cabo Certain crimes are active in Cabo, and Interpol is working hard to prevent them. The Interior is performing criminal investigations and spearheading spontaneous crackdowns to stop crime. The concerns that are identified in Cabo are as follows: Drug Use and Sale Gang Activity Carjacking Scams Robbery Homicide Pickpocketing The total population of Cabo is 202,694, and most crimes are happening against the locals. The crimes are severe, so the authorities are taking a solid stand to curb the crime. The crime rate has increased to 80.29% in 2023. Thus, safety is a concern. The vibrant sceneries, nightlife, and natives are the attraction of Cabo, yet visitors might feel reluctant due to safety issues. Considering Cabo is right on the edge of the coastline, it is easy for drugs to pass from Mexico to other countries. It does contribute to more gang violence and drug-related crime in Cabo. It would be best if you stayed away from the coastal regions late at night as tourists and visitors. There is a higher risk of getting mugged. Venturing into tourist habited places such as shopping centers, tourist attractions, bars, and restaurants is a better idea to enjoy your trip. The most convenient transportation choices are Uber, Lyft, and Shuttle. Safety Concerns Cabo has topped the list of scams and frauds, making it difficult for the authorities. Before and after the peak season, the issues further increase. In 2022, at least 800 reported cases of fraud and scams. Kidnapping is another concern where the perpetrators ask for money after abducting loved ones. In Cabo, there are risks of tourists getting kidnapped in vehicles that pretend to be taxis but are not. The tourist destination ranks third in the statistics of kidnapping. The municipality of Cabo San Lucas has a negative image regarding managing crimes for locals and visitors. The center of Cabo has the best hotels, attractions, beaches, and accommodations where crime is controlled. Unfortunately, the back alleys and the side roads are not so safe. Los Cangrejos And Las palmas The neighborhood has some safety concerns, which are pretty high for crimes and theft. People are constantly falling victim. Santa Rosa In San Jose del Cabo Armed robbery, vehicle robbery, and assault crimes are common in Santa Rosa. Visitors must be careful of hot spots. This location has accommodations and tourist attractions, making it straightforward for visitors to fall victim. It would be best if you kept the windows of the cars locked. You must continue on the way if any strangers are asking for help or a lift. The reported crimes in this location are based on gas stealing. The neighborhood around the airport is primarily rural, which is considered dangerous. City Center The area is crowded, making it the perfect place for mugging and pickpocketing. Every day, twenty crimes are reported. Therefore, visitors must avoid congested areas. There is a high chance of losing your belongings because stealing is common. Conclusion Please read the article to learn the answer to is cabo san lucas safe and why you should be careful before you visit it. Comment below regarding your traveling preferences and whether you would like to visit Cabo someday. Read Also: How Safe Is Morocco For Travel? Is Spirit Airlines Safe? Get Your Answer Here! FAQ About Staying Safe With Holiday Royal Vacation Club

READ MORE things to do in leicester

Exploring The Heart Of England: Things To Do In Leicester

BY  Abdul Aziz Nov 24, 2023

Leicester is a vibrant city with a wide range of attractions, including vibrant festivals, medieval sites, contemporary museums, and art galleries. Leicester, one of the oldest cities in England, was founded by the Romans. It also has one of the most diverse cultures in the nation, which is apparent at practically every turn. In this article, we will guide you through the beauty and attractions of Leicester. We will let you in on all the exciting things to do in Leicester. Stay tuned. Things To Do In Leicester: An Overview There is a fascinating assortment of attractions in Leicester's downtown that are all accessible on foot. Explore the bustling retail district surrounding Leicester Cathedral, a medieval structure. There is an interesting archaeological find close to the cathedral. In 2012, the skeleton of King Richard III was discovered here. Discover more about the excavation, the king's life, and his death by taking a tour of the King Richard III Visitor Center, which has been constructed around the site. Take a ghost tour at the Guildhall, which is reputed to be the most haunted structure in the city. Visit numerous free museums to learn more about Leicester's past. Visit Roman and Iron Age sites at the Jewry Hall Museum. At Newarke Houses Museum, experience life in Leicester during the 20th century. Visit Belgrave Hall Museum and Gardens to witness a reconstruction of Victorian customs. Visit the New Walk Museum and Art Gallery to see 20th-century artwork, dinosaur exhibits, and Egyptian relics. Take a stroll through the lovely Abbey Park along the Grand Union Canal. Enjoy a picnic on the well-kept lawns, or take a paddle boat rental out on the lake to explore the area. Examine the remnants of Cavendish House and Leicester Abbe- two historic structures. All The Things You Can Do Explore interactive exhibits at the National Space Centre to learn about solar system science, astronomy, and British space missions. See films with a space theme at the planetarium of the center. Leicester's festivals, food, and architecture all reflect the city's multiculturalism. Go to the Guru Nanak Gurdwara temple, which houses a Sikh cultural museum. Visit the Jain Center to learn about the ancient religion of Jainism. Walk along the Golden Mile on Belgrade Road to see a variety of Indian restaurants, jewelers, and sari shops. Participate in the vibrant Hindu holidays of Holi and Diwali. Things To Do In Leicester Leicester, a thriving metropolis in the East Midlands, offers a unique combination of history, culture, and captivating tourist destinations. Here are all the things you can do in Leicester. 1. King Richard III Visitor Centre: A Dramatic Royal Attraction The remains of King Richard III were found beneath a Leicester parking lot by researchers in 2012, which was an amazing find. The king who lost the Battle of Bosworth in 1485, made famous by Shakespeare (who painted him in an unfavorable light), is now housed in a royal setting where guests can learn everything there is to know about his life and times. The Visitor Centre provides a unique window into England's unstable past and one of its most controversial rulers, with tales of murder and war. 2. Leicester Cathedral: A Fitting Royal Burial Site Visit the Richard III Visitor Center first, then proceed to the Cathedral to see one of England's most exquisite churches. The fabled king was reburied there in 2015. Highlights are the 13 bells in the tower that ring on Thursday evenings and Sunday mornings (along with the king's tomb, of course), the somber East Window honoring the dead of World War I, and the stone statues of saints crowning the Vaughan Porch. 3. National Space Centre: An Out Of This World Attraction Unlike long-dead kings, the National Space Centre, located in the northern part of the city by the River Soar, offers something entirely different. Explore the universe's origins, take a trip across Venus, live in an International Space Station module, or just gaze up at the 42-meter-tall Rocket Tower, home to the Thor Able rocket, all at the UK's premier space museum. Young or old aspiring astronauts will love this place because it caters to their needs with lots of interactive exhibits and even allows them to try on space suits. 4. New Walk Museum And Art Gallery: See Some Fantastic Fossils Situated slightly to the south of the city center, the New Walk Museum and Art Gallery has been home to an impressive array of artistic and scientific displays since its founding in 1849. It is home to one of the best natural history collections in the world, which includes fully restored plesiosaur skeletons and some of the oldest fossils ever discovered. In addition, there is an amazing collection of German Expressionist artwork and four eerie Egyptian mummies. With free entry, it's an inexpensive but must-see Leicester attraction. 5. Newarke Houses Museum: Bringing Leicester's History To Life The quirky, interesting, and enjoyable Newark Houses Museum of Leicester's history is located a few hundred meters to the south of the Cathedral. Learn about legendary figures such as Daniel Lambert, who was once the largest man in Britain, view an enthralling collection of toys dating back to the Tudor era, and get a firsthand look at life in the trenches of World War I, where local soldiers fought and frequently lost their lives. This family-friendly museum is an interesting way to learn about the history of the city and makes a nice addition to the Richard III exhibits. 6. Haymarket Memorial Clock Tower You will definitely come upon this unusual clock tower as you stroll through Leicester's downtown. One of the most recognizable sites in the city, the Haymarket Memorial Clock Tower has long been a well-liked gathering spot for locals. It was initially constructed in 1868 to relieve traffic congestion on the location of a former hay and straw market. It's worth stopping by since it's an interesting sight in Leicester. 7. St Nicholas Church As the oldest house of worship in the city, St Nicholas Church is one of the many churches in Leicester that you can visit and, therefore, one of my favorites. There is evidence of Roman architecture on the site, and parts of the church date back more than a century. One of the biggest remaining Roman buildings in the nation, the Jewry Wall is a 2nd century AD Roman wall located directly behind the church. Sadly, it was closed for renovations when I visited, but I've heard it's a must-see attraction in Leicester. Wrapping Up Being one of the oldest cities in England with a history spanning over two millennia, Leicester offers a plethora of unique activities to keep you occupied for a few days at the very least. Like many tourists, Leicester draws tourists primarily with the news of King Richard III's remains that came into discovery. You will love to learn that the city has a lot more to offer and that visiting them would increase your appreciation of the place. If you have thoughts to share or questions to ask, please leave a comment below. We would love to hear from you! Read Also: Unforgettable Island Adventures: Things To Do In Tenerife Brighton Bliss: Crafting Your Perfect Coastal Getaway Itinerary Hidden Gems: Unearthing The Best Things To Do In Nottingham