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 Luxury Villas

Luxury Villas In 2023: What You Need To Know

BY  Arnab Jun 26, 2023

Are you looking for some perfect Luxury Villas in 2023? Whether you’re planning a romantic getaway, a family escape, or a large group celebration, there are plenty of options available. From beach villas with sea views to family-friendly stays and A-list properties, here’s what you need to know when choosing a luxury villa for your occasion. Choosing the Right Location When it comes to choosing the right location for your luxury villa holiday, there are many destinations around the world that offer something special. Greece is a popular destination for those seeking relaxation and culture, with its stunning beaches and ancient ruins. For those looking for an exotic escape, why not consider India or Thailand? Both countries offer beautiful scenery and unique cultural experiences. If you’re after something closer to home, then Italy is always a great option. With its rolling hills and picturesque towns, it’s easy to see why so many people flock to this country each year. Alternatively, if you’re after some sun and sand, then Spain or Portugal could be just what you need! Luxury Villa Trends To Expect In 2023 2023 is the year when we can expect to see some of the trendiest luxury villas. The fascinating evolution of home designs will surely allure spectators and buyers. So, without speaking too much about it, let’s dive quickly into the topic.  The Year Of Bright, Lively Colors While minimalist wall colors are still the talk of the town, we get to see some lively villa colors in and around 2023. In order to bring the pop back into these houses, the interior designers have thought of doing something extraordinary.  This is why the introduction of bright colors in contrast to some neutral shades is the first luxury villa trend. Moreover, the color palette consists of rich, warm tones that are earthy, like dusky yellows and warm reds. Emotive Textures Guess who’s in charge of personifying the villas? Dramatic textures and colorful stones. One can also see woods having deep veins along with some other contrasting colors ranking on top of the leaderboard.  Contractors and interior designers leave no stone unturned in the coming year to experiment with numerous patterns and colors. Make a statement with glamorous feature walls and architectural-styled villas in 2023.  Eye-Captivating Outdoor Living Spaces After continuous lockdowns and new revolutions in working-from-home trends, the demand for functional spaces has increased significantly. In fact, nothing enjoys creative modernization more than outdoor living spaces. People are predominantly investing in larger decks and patio designs, leveraging outdoor kitchens and fire pits.  Certain villas also consist of outdoor pizza ovens, spas, outdoor showers, and even built-in lounges. Acreage realtors lay down the most optimum playground for innovation as they provide ample room for mesmerizing backdrops.  Prioritizing sustainable materials Almost every industry is looking for ways to reduce their ecological footprint. And the real estate sector is no exception. From brokers to contractors, everybody is looking forward to using sustainable materials in modern home builds.  In 2023, we can expect to see an increase in the use of eco-friendly, natural materials such as cork, reclaimed wood as well as bamboo. These materials are responsible for bringing a touch of distinction and interest with the benefit of low ecological impact.  Smart Homes Are Dominating Technology has been developing in sophistication, and we are dependent on it each year. Thus, new homes are inbuilt with smart home functionality to make day-to-day lives easier. Under smart home technologies come voice-activated lighting systems, smart doorbells, and fully automated home security.  Even kitchen equipment can undergo changes in the coming year. Smart technology is making our lives more convenient, along with increasing the value of your abodes.  Finding the Perfect Villa Once you have chosen your destination, it’s time to start searching for the perfect villa! There are many websites dedicated to helping travelers find their dream rental property from curated collections of luxury Italian villas – perfect for family escapes, romantic retreats, or large group celebrations. Websites such as Mr & Mrs. Smith offer handpicked luxury villas in Ibiza, Mallorca, and Italy that have been tried and tested by their team of experts. At Oliver's Travels, they also provide a specialist service when it comes to finding extraordinary villa holidays from luxury villas to grand chateaux – all handpicked by their team of experts who can also help with any additional concierge services that may be required during your stay. If you’re looking for something truly unique, then Villas of Distinction offers over 2,500 curated luxury villas worldwide – giving you access to the world that traditional travel agents can't provide! Finally, The Villa Collection provides private villas in some of the most beautiful destinations around the world, from Corfu to the Caribbean – perfect for those seeking an unforgettable experience on their next getaway! Tips For Making Your Stay Special Once you have found your dream rental property, there are still plenty of ways that you can make your stay even more special! Why not hire a chef or butler service so that all of your meals are taken care of during your stay? Or, if you want something truly luxurious, then why not book a spa day at one of the local spas? This will give you some much-needed rest and relaxation during your trip away! Finally, don't forget about activities such as boat trips or guided tours which can really add something extra special to your holiday experience. Whatever type of holiday experience you're after, there's sure to be something out there that will suit everyone's needs - so don't forget about these little extras when booking your next luxury villa holiday! Conclusion Luxury villa holidays can be an incredibly rewarding experience if done correctly - so make sure that when booking yours in 2023 that you take into account all these tips before making any decisions! With careful consideration and research into both location and accommodation options - as well as taking advantage of any additional services available -you'll soon be enjoying an unforgettable getaway in no time at all! Read Also: What Are The Benefits Of Living In A Luxury Villa 7 Reasons Why Phuket, Thailand Attracts Travelers Worldwide Aeolian Village Beach Resort: The Ultimate Destination For Relaxing Holidays  

READ MORE Moving

Moving Stress – 10 Ways To Make Moving Easy For Your Family

BY  Arnab Jun 6, 2023

Relocating to a new residence signifies an exciting new chapter for your family, yet it can also induce overwhelming stress. The process entails various tasks, including organization, packing, and selecting a suitable moving company. Nevertheless, by implementing thorough planning and adopting a proactive mindset, you can turn the house-moving checklist into a smoother and more enjoyable experience for your entire family Throughout the United States, relocations are unsurprisingly common. Most people move from one state to another for employment prospects, while others move due to inflation and several other reasons. Chicago, for instance, has been witnessing a rise in people moving out of this city, citing housing cost issues and rising inflation. Such factors are enough to make relocation even more stressful. Here Are Ten Prime Ways To Make Moving Easy For Your Family Below, we’ll share tips to streamline the process and alleviate the stress associated with moving. 1. Engage a Reliable Moving Company The first step of moving is getting in touch with a trusted moving company. Selecting a reputable and dependable moving company can significantly alleviate stress during the moving process. Research and compare moving companies in your area, for instance, Chicago. Review their credentials, customer feedback, and insurance coverage. Request multiple quotes and inquire about additional services they offer. Once you find a suitable moving company, secure their services well in advance to ensure your preferred moving date. Clear communication and a well-documented contract with the movers will guarantee a smooth and hassle-free experience on the day of the move. Leaving a big city like Chicago can be stress-inducing, especially for big families. Nonetheless, the expertise of professional movers will make the transition smoother. Looking up Chicago long distance movers near me will help you find the right movers. 2. Create a Moving Timeline A well-structured moving timeline is essential for maintaining organization throughout the moving process. Begin by creating a detailed checklist that encompasses all necessary tasks, including decluttering, packing, scheduling movers, and notifying relevant parties of your change of address. Break down these tasks into manageable chunks, assigning specific deadlines to each. By adhering to a timeline, you can avoid last-minute rushes and ensure that everything is completed systematically. 3. Downsize Moving presents an excellent opportunity to downsize and let go of items you no longer need. Assess each room and categorize your belongings into keep, donate, sell, or discard. For the disposal of unwanted junk, it can be beneficial to reach out to a dumpster rental like Waste Removal USA. If you're curious about where this company is located specifically, you can find the answer to "where does Waste Removal USA operate?" with their list of local service areas that you can explore. Most reliable dumpster removal services have their locations present on their websites which can come in handy when looking for a service near you. Consider organizing a garage sale or donating unwanted items to local charities. It not only lightens your load but also provides a sense of fulfillment while assisting those in need. 4. Employ Strategic Packing Techniques Efficient packing is key to a successful move. Gather high-quality packing supplies, including sturdy boxes, bubble wrap, packing paper, and tape. Label each box clearly and the room it's supposed to go in, simplifying the unpacking process. Exercise extra care when packing fragile items, providing ample cushioning materials for protection. Additionally, consider creating an "essentials" box containing necessary items such as toiletries, a change of clothes, and important documents. This box should be easily accessible upon arrival at your new home. Strategic packing saves time during the move and streamlines the unpacking process. 5. Involve the Entire Family Moving represents a significant change for the entire family, so involving everyone can help mitigate overwhelming feelings. Assign age-appropriate tasks to each family member, such as packing personal belongings or researching new schools and activities in the new neighborhood. Encourage open communication and address your children's concerns or anxieties about the move. By involving everyone, you foster a sense of unity and shared responsibility. 6. Conduct Research and Prepare for the New Neighborhood Before the move, research and familiarize yourself with your new neighborhood. Identify local amenities, schools, medical facilities, and recreational areas essential to your family. Connect with neighbors through online forums or social media groups to gather valuable information about the community and upcoming events. By acquainting yourself with the new surroundings, you can facilitate a quicker adjustment for your family. 7. Arrange Child and Pet Care on Moving Day Moving day can be chaotic, and the presence of children or pets may exacerbate the situation. To minimize stress, consider arranging childcare or looking for pet care centers on the day of the move. This way, you can oversee the moving process without worrying about their safety and well-being. Ask for help from a trusted family member or friend, or hire a professional caregiver for the day. The certainty that your loved ones are comfortable will ensure a smoother transition for everyone involved. 8. Prepare an Overnight Bag The moving day and the immediate days afterward can be physically and mentally exhausting. Packing an overnight bag for each family member with essential items such as toiletries, clothes, and bedding will make the first night in your new home more comfortable. This way, you won't have to search boxes to find what you need immediately. Additionally, include any necessary medications, snacks, and entertainment items to keep everyone occupied during the transition. 9. Update Your Address and Utilities Remember to update your address with all relevant parties to ensure you have a hassle-free transition to your new home. Notify the post office, banks, insurance providers, subscriptions, and other important organizations or institutions of your move. Additionally, arrange for the transfer or set-up of utilities such as electricity, water, and internet services in your new house before you move in with your family. 10. Allow Time for Settling In Finally, allocate time for you and your family to settle into your new home. Unpacking and organizing can be time-consuming, so don't feel pressured to accomplish everything in one day. Begin by setting up the essentials and gradually work through each room. Encourage your family members to explore the new neighborhood, visit local attractions, and engage in activities that foster a connection to the community. Conclusion Moving houses is only a stressful experience if you don't plan well. Implementing these ten practical tips simplifies the process, making it more enjoyable and less overwhelming. Remember to create a moving timeline, declutter and downsize, hire a reliable moving company, pack strategically, involve the whole family, research and prepare for the new neighborhood, arrange child and pet care on moving day, pack an overnight bag, update your address and utilities, and allow time to settle into your new home. With careful planning and a positive mindset, you can ensure a successful and positive transition for your family's move. Read Also: Moving To Paris – How To Start The Most Beautiful Places In The World Top 10 National Parks In Oregon That You Need To Explore In 2023!

READ MORE

Glacier National Park: A Geological Wonder With Fossils And Rich Wildlife

BY  Sibashree Oct 28, 2024

Glacier National Park, or the “Crown of the Continent,” boasts unique geology, fossils, ecosystems, and thriving wildlife.  “Far away in northwestern Montana, hidden from view by clustering mountain-peaks, lies an unmapped corner—the Crown of the Continent.” - George Bird Grinnell, Editor, Forest and Stream It is also a hiker’s paradise with trails of varying difficulty levels. In addition, a drive through the park will allow you to visit more than 700 lakes and learn about the history of American-Indian tribes like the Blackfeet, Kootenai, Salish, and more! Let’s explore the miles of wonders and help you make an itinerary with a guide on things to do and places to stay in the park. Having said that, the park offers boating, bus rides, and horse riding tours. However, hiking is the best way to get to know the park well.  Where Is Glacier National Park? How To Reach It? The 1,583 square miles of wilderness of Glacier National Park is in northwestern Montana, United States. It is close to Waterton Lakes and the Canada-United States border.  Furthermore, Columbia Falls is the nearest city to this national park. If you want to visit the park, you can reach its southern boundary through Highway 2. However, if you want to enter the park from its east side, you must take Highway 89.  Moreover, the nearest airports to this national park are Kalispell and Great Falls. From there, you will have to reach the park by road.  Visitor Centers of the Park Apgar Visitor Center St. Mary Visitor Center Logan Pass Visitor Center Operating Hours: The park is open 24 hours a day. You can visit the park on 365 days of the year.  You will have to pay some fees at the entrance. The entrance stations will not always be human-crewed. However, you must make a self-payment following the instructions at the entrance.  Where To Stay In Glacier National Park? Once you have reached the park safely, you will, of course, look for safe accommodation. Camping and wilderness camping are surely the best options if you want to make the most of the park experience.  However, you can always explore the lodging options for more comfort. The park also has restaurants and stores, providing you with basic amenities.  Lodges In Glacier National Park  Look at the table below for details about the lodging options at Glacier National Park. Lodging Facility OperatesContact Information Glacier National Park Lodges/Xanterra Parks & ResortsVillage Inn MotelLake McDonald LodgeRising Sun Motor InnSwiftcurrent Motor Inn(855) 733-4522 (USA)(303) 265-7010 (Outside the USA)Glacier Park Collection Apgar Village LodgeMotel Lake McDonald(844) 868-7474Sperry Chalet & Granite Park Chalet (These are two backcountry chalets in Glacier National Park.)Sperry ChaletGranite Park Chalet(888) 345-2649 It is always better to check the availability at the lodges in advance. Further, some of these lodges have historic associations. For example, the Lake McDonald Lodge became a “National Historic Landmark” in 1987.  Did you know that Lake McDonald Lodge is one of the best examples of Swiss chalet architecture, and it is a member of the Historic Hotels of America? Talk to the staff in the lodges to unearth more stories and anecdotes about these places.  Camping In Glacier National Park Glacier National Park has 13 front country campgrounds. Along with putting up a tent, these campsites are also suitable for RVs and other vehicles.  These campgrounds are available on a first-come, first-served, or reservation basis. So, let’s explore the options.  Type of BookingName of the CampgroundHighlights First-Come, First-Served Bowman Lake CampgroundIt offers the best view of Bowman Lake.Further, it is known for its serene ambiance. Cut Bank CampgroundThe Cut Bank Campground is the best for backcountry trips.It is also close to many day-hiking trails. Kintla Lake CampgroundI found this campground the most picturesque camping destination in the park.Sitting on the Kintla Lake, it is a quiet place for camping. Logging Creek CampgroundThis campground is close to Logging Lake.Also, you will love it if you prefer some solitude. Quartz Creek CampgroundIt is the smallest campground in the park, and you will love it for its pristine charm. Rising Sun CampgroundYou can enjoy the best view of Red Eagle Mountain from this camping ground.Further, as the name suggests, it offers beautiful sunrise views. ReservedApgar CampgroundThe evening programs at the Apgar Amphitheater are the most entertaining thing to do in the park.You can take a short walk from this camping ground to enjoy the sunset views of Lake McDonald. Avalanche CampgroundAvalanche Campground is great for wildlife viewing, especially birdwatching.In addition, it is connected to many day-hiking trails. Fish Creek CampgroundIt offers decent views of Lake McDonald.Also, you can enjoy some privacy here. Many Glacier CampgroundIt is the best camping ground to experience wilderness in the park. Further, you can see bears and bighorn sheep here. St. Mary CampgroundIt is the hub of interpretive programs and many other events in the park.Also, it is the largest campground on the park’s eastern side. Sprague Creek CampgroundCamping is comfortable here with shades of trees.Further, it offers the best view of Lake McDonald. Two Medicine CampgroundIf you want red bus and boat tours, Two Medicine Campground is the best for you. Further, it offers better privacy than other campgrounds.Also, it leads to the Running Eagle Falls and many other popular hiking trails.  So, choose a campground based on your desired experience and other preferences. For reservation, contacting the park authority at least six months before your visit is better.   Wilderness Camping In Glacier National Park You will need a wilderness permit if you’re going to do wilderness camping in the park. If you ask me, camping by the riverside is the best option. Further, if you want to be more adventurous, you can try wilderness camping in winter with special permits.  Here, I will only discuss the best riverside camping options in the wilderness. You will need river camping permits and must abide by the camping regulations on the riverside.  North Fork Flathead River The undesignated wilderness camping along the North Fork Flathead River is a great place if you want to try paddling or angling. Boating in the river is also a popular activity here.  Middle Fork Flathead River  The Middle Fork Flathead River camping is the best choice to explore the Bob Marshall Wilderness. Further, the primitive setup here offers you the most adventurous camping experience.  What To Do In Glacier National Park? Try Hiking To Know The Park's Best  It does not matter whether you want a short hiking expedition or a long backpacking experience. The Glacier National Park has you covered. So, let’s know about some of the trails.  Avalanche Lake  Difficulty Level - Easy to Moderate Trek Distance - 5.9 Miles  This trek route is close to the Lake McDonald Lodge, and before you start the trek, you can enjoy a boat ride in Lake McDonald before starting your day.  You will see many waterfalls and mountains while hiking through this beautiful and easy trail.  Highline Trail Difficulty Level - Moderate Trek Distance - 7.2 Miles  If you want to experience the core essence of the Glacier National Park in one day, you must trek through the Highline Trail. You will visit Alpine meadows, snow-capped peaks, and the best wildflowers throughout your hiking expedition. Further, the Continental Divide makes the pain-stricken hike worth it. However, be careful during the last 4 miles of the trek, as trekking downward through the trail is Scary!  Siyeh Pass Difficulty Level - Strenuous Trek Distance - Over 10 Miles  Siyeh Pass is the trekking trail you must explore to see the 1.5 billion-year-old fossils in the park. You will also get to see many glaciers throughout the trek. The glaciers visible in this trekking route are: Blackfoot Sexton Piegan Jackson In addition, you will love trekking through the spruce and fir forests, and the wildflowers in the meadows are a treat for the eyes.  Hidden Meadow  Difficulty Level - Easy Trek Distance - 3 Miles  Hidden Meadow in Glacier National Park is a kid-friendly trail. Further, it is a short trek taking you through forests until you reach a meadow for an expansive view of the surroundings.  Also, you will love the largest Douglas firs here.  Also read Why Include Whale Watching In Your LA Itinerary. Traveling On A Budget: Tips For Affordable Adventures. From Cocktails To Kickflips: Must-Try Activities In San Diego.