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 Winter Wardrobe

Layered Luxury: Packing Your Winter Wardrobe For An East Coast City Getaway

BY  Nabamita Nov 25, 2023

With its charming winter landscapes and bustling cities, the East Coast beckons with an allure that demands style and practicality. As we embark on a journey to these picturesque destinations, let's explore the art of layered luxury – a fusion of fashion and function that keeps you warm while ensuring you look impeccable in every winter snapshot. Embracing East Coast Style East Coast cities have a distinct fashion culture, blending classic sophistication with an urban flair. Winter in this region is not just about staying warm; it's an opportunity to showcase your style amidst snow-covered streets and historic architecture. The East Coast winter wardrobe carefully balances timeless pieces and on-trend accents, setting the stage for the layered luxury we're about to explore. Understanding Layered Luxury Layering is not just a necessity; it's a fashion statement. The art of layering combines different clothing pieces to create a stylish yet functional ensemble. Imagine seamlessly blending a base, insulating, and outer layer topped off with chic accessories – a winter-ready masterpiece. What does each layer include? Keep reading to find out! Base Layer Begin your journey with a foundation that embraces and luxuriates in the cocoon of comfort and warmth. Prioritize fabrics beyond merely insulating; opt for the indulgence of moisture-wicking materials such as the exquisite merino wool or cutting-edge high-tech fabrics designed to keep you warm and dry in the face of unpredictable winter elements.  Your base layers for the East Coast adventure should include thermal tops and leggings, the undisputed champions of snug beginnings. These pieces form the cornerstone of your layered luxury ensemble, ensuring your comfort is paramount as you explore the East Coast's charming streets and scenic landscapes. Insulating Layer Transform your winter wardrobe into a masterpiece by skillfully incorporating an insulating layer that provides warmth and elevates your style to new heights. Picture the cozy embrace of chunky knit sweaters, each stitch a testament to the craftsmanship that intertwines fashion and comfort. Envelop yourself in the soft luxury of fleece-lined jackets, where every touch reminds you that winter can be both cozy and chic. Few brands match The Row's timeless elegance and quality craftsmanship when delving into investment pieces. Their selection of insulating pieces transcends mere function, becoming a statement of refined taste and sartorial excellence.  Picture yourself draped in The Row's chunky knit sweater, the epitome of understated luxury, or wrapped in their fleece-lined jacket, a testament to the brand's commitment to warmth and style. These investment pieces from The Row seamlessly integrate into your winter wardrobe, becoming not just clothing items but expressions of your discerning fashion sensibilities. Outer Layer Your outer layer stands as the frontline defense against the whims of winter, a vital shield ensuring you remain impervious to the elements. Elevate your winter wardrobe by investing in a coat that not only exudes style but also boasts a formidable combination of waterproof and windproof features. Picture yourself adorned in a stylish parka, its sleek design concealing a robust protective layer that wards off rain and wind with finesse.  Alternatively, opt for the timeless elegance of a tailored wool coat, wrapping yourself in a cocoon of warmth without compromising on fashion. For a classic touch, consider the enduring charm of a trench coat, a versatile option that seamlessly marries both fashion and function. As you navigate the streets of the East Coast, let your outer layer be a statement of resilience and refinement, a testament to your ability to brave the winter elements with unparalleled sophistication. Accessories No winter ensemble is complete without the perfect accessories. Envelop yourself in the sumptuous warmth of a luxurious scarf, not only a style statement but a practical necessity, warding off the chill that winter breathes. Slide your hands into insulated gloves, each finger wrapped in snug comfort, creating a barrier against the biting cold.  Crown your winter look with a fashionable hat, a sartorial choice that adds flair and protects you from the elements. Accessories, in their duality of fashion and function, are the pièce de résistance of your winter wardrobe, elevating your ensemble from ordinary to extraordinary. City-Specific Considerations As mentioned, the East Coast is home to picturesque cities and landscapes that attract visitors yearly, especially during the wintertime. Some of the most beloved places to visit include Vermont and New Hampshire. When visiting either of these locations during the winter months, there are a few winter wardrobe considerations to keep in mind when packing your bags for your trip away. For instance, with Vermont, Vermont's winter is known for its biting cold, requiring a wardrobe that can withstand the harshest temperatures. Consider thicker insulating layers and durable outerwear. Local fashion trends often incorporate rustic elements, allowing you to blend seamlessly with the scenic surroundings. Whereas New Hampshire, with its mix of mountains and cityscapes, demands versatility in your winter wardrobe. A combination of casual and sophisticated pieces will serve you well. As you embark on your East Coast winter getaway, remember that layering is not just a functional necessity; it's a form of self-expression. Embrace the layered luxury lifestyle by combining practicality with style, creating a winter wardrobe that captivates and protects. Pack wisely, layer thoughtfully, and make every winter moment a stylish statement. Your East Coast adventure awaits – wrapped in layers of luxury. Read Also: 6 Clever Tricks To Save On Extra Baggage Fees For Your Next Flight A First-Hand Experience Of Taking A Red Eye Flight! The Ultimate Guide To Finding Cheap Flights To Chicago Using Google Flights Momondo Flights: Should You Try This Platform For Booking Flights In 2023?

READ MORE Vacation Property Guide

Exploring The World While Investing In It: The Vacation Property Guide

BY  Shahnawaz Mar 1, 2024

In today's world, where wanderlust meets savvy investment strategies, there's a growing trend among travelers and investors alike: vacation properties. This unique approach not only satisfies the urge to explore new destinations but also presents a prudent financial investment through the acquisition of real estate. Here's how blending the love for travel with the intricacies of mortgages can create a rewarding venture. Why Consider Vacation Properties? Vacation properties serve dual purposes; they are a getaway retreat for you and your family and a potential source of income through rental. In picturesque locales, from the sandy beaches of Bali to the quaint villages of Tuscany, these properties beckon with the promise of adventure and the allure of financial returns. Investing in a vacation property has a lot of benefits. The first thing is, as mentioned above, it is an amazing source of passive income. When you rent out the property, you get back substantial returns, especially during the peak seasons. Moreover, vacation rentals have higher rental rates as compared to long-term rentals, which gives you more revenue. Along with the financial benefits, when you own a vacation rental property, you get to spend a lot of time enjoying your personal vacations as well. You can spend a lot of time on your own property when the place is vacant. You get to enjoy all the amenities you have set for others.it is a perfect relationship between investment and vacation home. Understanding the Mortgage Process for Vacation Homes Investing in a vacation property often involves navigating the mortgage landscape, which can be daunting for both seasoned investors and first-time buyers. The process entails several unique considerations: Interest Rates and Terms: Mortgage loans for vacation homes may come with different interest rates and terms compared to primary residences. Lenders often view these properties as higher risk, which can influence the loan conditions. Down Payment Requirements: Typically, vacation homes require a larger down payment, sometimes as much as 20-30% of the purchase price, reflecting their status as luxury or non-essential purchases. Rental Income Consideration: If you plan to rent out your vacation home, lenders might take potential rental income into account, which can aid in qualifying for a mortgage. However, this requires thorough documentation and, sometimes, previous landlord experience. The Joy of Travel and the Wisdom of Investment Owning a vacation property allows you to immerse yourself in your favorite destinations. Whether it's a ski lodge in the Rockies or a beachfront villa in the Caribbean, these homes offer a personal escape with the warmth and comfort of your own space. Beyond personal enjoyment, these properties can be rented out to vacationers, providing a steady income stream that can offset mortgage payments and maintenance costs. Navigating Challenges and Rewards The journey of buying and owning a vacation property is not without its challenges. From managing the property remotely to understanding local real estate laws, it requires diligence and research. Yet, the rewards can be substantial. Not only do you enjoy personal retreats in beloved locales, but you also stand to gain from property appreciation and rental income. A Call to Adventure and Investment As we navigate our world, the concept of investing in vacation properties presents a compelling blend of adventure and financial prudence. It embodies a spirit of exploration, not just in the sense of travel but in the realm of financial growth and stability. For those bitten by the travel bug and those seeking to expand their investment portfolio, vacation homes offer a horizon worth exploring. Factors you should consider while choosing the location of the property Picking the correct location for your vacation rental property is essential. Here are some of the crucial factors that you should consider: Factors you should consider while choosing the location of the property Picking the correct location for your vacation rental property is important. Here are some of the important factors that you should consider: Local attractions and tourism demand How successful your vacation rental property is going to be depends on the demand of the place. Before you invest, check for the popularity of the place among travelers. Identify the local attractions that are drawing the visitors to itself. Consider the things that are making the place popular. Whether it is their cultural heritage, its natural beauty, or how close the place is to the popular destinations. Properties that are close to tourist spots or close to vacation destinations have a tendency to attract more renters. You can choose coastal destinations, urban hotspots, ski resorts, historical and cultural sites, and some emerging destinations. Along with the well-established vacation sports, the emerging destinations are a good investment.  Look for places that are rapidly developing; they have high potential for getting you a high rental return. Rental and seasonality demand Having a good understanding of the tourist season in the place is important. Research about the holidays, special events, and the peak tourist seasons that will take the rental demand to the next level. If the location is such, which has a year-round demand, it is going to get you a consistent source of income. But if the property is in a seasonal location, then you might get fluctuations in the rental bookings. Regulatory environment Before you get a vacation rental property, it is important to know the regulatory environment of the location. Some countries and cities have specific rules and regulations regarding short-term rentals. Get yourself familiar with the restrictions and local laws to make sure you abide by all the regulations. Try not to ignore the legal aspects, as that could land you with a penalty or even cause your rental business to close. Amenities and infrastructure Think about the accessibility and proximity of the essential infrastructure as well as the amenities. Choose an area that has good transportation links, restaurants, shopping centers, and entertainment options. Guests always prefer properties that are convenient and have easy access to the services and local attractions.  Final Thoughts Before embarking on this journey, it's crucial to conduct thorough research, consult with real estate and financial professionals, and consider all aspects of the investment, including the potential need for a mortgage. With the right preparation and mindset, owning a vacation property can be an enriching experience that combines the joys of travel with the benefits of real estate investment. ADDITIONAL READING: A Guide To Planning Your First Family Ski Trip The Ultimate Business Traveler’s Guide To Bangkok From Britain To Australia: A Guide For Brits Making The Move Down Under

READ MORE national parks in Idaho

National Parks in Idaho A Comprehensive Travel Guide 2025

BY  Barsha Sep 2, 2021

When you are searching for a place with natural beauty, and historical ambiances, these national parks in Idaho are the perfect combinations where you can spend your holidays and feel the place’s historical vibes. These parks are the historical landmarks of the US. Not only the beauty of the palace is making it an attractive place for adventure lovers and tourists. For organizing the educational tours, these national parks in Idaho are the best places. These national parks in Idaho are the perfect places for adventurer lover tourists. The natural, adventurous hiking trails and granite rock climbing cliffs make the national parks the favorite places for adventurer sports lovers. In the list of national parks, most of the national parks are the most popular and historical landmarks like the yellow stones. Let’s see the six top national parks in Idaho. 6 Top National Parks In Idaho: The national parks in Idaho are the best places where you can see the lush natural forest, natural rock climbing mountains, and rugged cliffs and peaks. These parks are the perfect place to explore and find genuine mental peace. In addition, these national parks are the ideal place which is the natural playground for adventure lovers. Check out the names of the six most famous national parks in Idaho. 1. City Of Rocks National Reserve The city of rocks national reserve is a spectacular place that has natural granite rock formations. This national park is just across the state line from Utah. The towering granite rock formations are the greatest attraction of the park. The climbing routes range from 30 feet to 600 feet. Among the all national parks in Idaho, you will get experienced guides to guide you for the travel. Almost 65 campsites are scattered here and there for the tourists. And you will get all the camping facilities and equipment on rent. 2. Nez Perce National Historical Park Among all the national parks in Idaho, this is one of the historical parks on the list. This park has natural beauty and natural hiking walking trails. But along with hiking, you can explore the historical places of the parks. This national park was originally the home of the native American tribe Nez Perce. In the national park, you are getting two options. One is you can hike the national park. Other than this you can explore the museum and the natural campaign facilities. The park has individual 38 locations. So along with the museum, you can see the distinctive natural ecosystems and the climates of the place, which are a little bit unique from the other places. 3. Yellowstone National Park This is one of the best national parks in Idaho. The geothermal landscapes are making this park and a trendy popular place for educational activities and scientific excursions. The park was first to open in 1872. The geothermal landscapes are responsible for the distinctive nature and the living beings. And still, now the eruptions are taking place here. Large underground systems are responsible for volcanic eruptions. And after each eruption, you can see the big splash on the waters. Certain places in the park have very high temperatures. And these parks have the largest bison populations in the whole country. The supine forest, geothermal atmospheres, and bison populations are enough to make this park a perfect educational place to study. 4. Craters Of The Moon National Preserve This park is located in the central national parks in Idaho. The park is covering around 410,000 acres along the Snake River plain. The natural bush and the natural habitats of the places make this national park unique areas to explore. The whole park is full of scattered natural walking trails and different types of plants and bushes. This park is covered by almost 1,117 square miles. This park was expanded in 2000 by president Bill Clinton. The operations of the parks are jointly managed by the National Park Service and the Bureau of Land Management. 5. Hagerman Fossil Beds National Monument Central national parks in Idaho are all the perfect places to explore for educational excursions. However, these Follicle beds parks are not also unexceptional. This place is full of the natural follicles the different archaeological art affects. The whole snake river bed is the follicle bed. From the Hagerman follicles bed, you will get plenty of horse follicles. These horses’ follicles are all from the Pilosaone era. The natural dry environments are working as the natural preserver of the Focciles. In 1975 this park was declared as a genuine natural fossil-preserving place by president General Ford. This park excursion trip is a great source to learn about the archaeological discovery of the park. 6. Minidoka National Historic Site The national parks in Idaho and Montana are all full of history. And this Minidoka National historic site holds much more history of World War 2. This park is also situated in the central part of Idaho. This park is naturally beautiful as the place is long and covered with rich stretching green lands. This total area has a historical background and the history of World War 2. During the world war, 2 9000 Japanese Americans were imprisoned.  And in 1979, this place was counted as a national historical site in the United States. The site measures approximately more than 210 acres. The Minidoka national historic site and the monuments are the best attraction of the place. So along with the excellent walking trails, you can explore the significant historical ground to feel the site’s history. Wrapping It Up: The national are excellent places for every tourist. But for the adventure lover, this place is like an adventure playground. The arts, history, and natural beauty when you search for the best places to explore these parks give you all types of options. From the archaeological displays to the geothermal landscapes, all make these parks a perfect place where you can do the tour planning with your friends and families.