All You Need To Know About Korean Currency Rate And Money

May 19, 2023

Last Updated on: Aug 22, 2025

Travel Guides

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

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

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

History Of Korean Currency

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

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

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

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

Current South Korean Won Exchange Rate

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

Below are some of the latest conversion rates:

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

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

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

Banknotes And Coins

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

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

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

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

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

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

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

Money-Handling And Etiquette

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

Below are some key points to note:

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

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

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

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Unique Things To Do In Venice Beach: Is Venice Beach LA Worth It? 

BY  Sibashree May 28, 2024

Picture yourself walking along the beach boardwalk, and suddenly, you bump into the likes of Leonardo DiCaprio, Scarlett Johansson, Robert Downey Jr, Julia Roberts, and Gwyneth Paltrow! This is Venice Beach in Los Angeles, your ultimate destination for “stargazing by the sea.”  Now, with the boardwalk in Connecticut featuring in the list of the “USA TODAY 10 BEST Readers' Choice Awards,” many publications are claiming it to be a better alternative to Venice Beach.  However, it is hard to replicate the charm of Venice Beach and its beautiful boardwalk, which are the icons of the culture and free spirit of California.  Furthermore, with the fusion of food, creativity, and diversity, the beach and its boardwalk exude the most vibrant energy.  However, they also allow you to relax with a sprinkle of quintessential Southern Californian good life.  In this Tour and Travel Guide, we will mainly discuss why the boardwalk of Venice Beach is a must-see during a weekend getaway. 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READ MORE Punta Cana

Best Must-See Punta Cana Neighborhoods And How To Visit

BY  Ankita Oct 26, 2023

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Unexplored Places To Visit Near Delhi – Explore The Unexplored Delhi

BY  Abdul Aziz Oct 6, 2021

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The places near Delhi all are a little bit different, impression-wise. Anyway, you could enjoy food in Delhi, but the food that the Majnu ka Tilla has is incomparable. The places near Delhi are all a little bit different, impression-wise. 3. Mirza Ghalib ki Haveli Exact Location – New Delhi, Qasim Jan Street, Shahajanabad. Nearest Metro – Chawri Bazar Metro is the Nearest Metro station. This is the Haveli or the palace made in the memory of the world-recognized Urdu poet, Mirza Asadullah Baig Khan who is also known as Mirza Ghalib. He is said to have produced the most famous of his creations when he was in this home. Hence this place stands of importance to everyone.  This place is in Chandni Chowk which is the heart of the city, and it has been transformed into a museum now because it is maintained by the Government. Chadinchwak is a popular marketplace. Many tourists are visiting Chandni Chowk as a popular marketplace. But do you ever searching the “places to visit near me” when you are already in the Chadnichwak market? Try these tricks and let us know what the different types of tourist destinations you are getting. 4. Best Places To Visit Near Delhi – Sanjayvan Exact Location – Vasant Kunj, New DelhiNearest Metro – The nearest metro stations are the Chhattarpur metro station and the Qutub Minar metro station.  No one would have ever thought that there could be a forest in the heart of the city? But there is, the Sanjayvan is right in the middle of South Delhi. It is very close to the Qutub Minar there. It is a lush green forest, and this green forest spreads over 780km straight from all directions. This is one of the best-hidden places to visit near Delhi. This Sanvayvan is near or between Mehrauli and Vasant Kunj in the southern part of Delhi.  5. Best Places To Visit Near Delhi – Ghazipur Phool Mandi Exact Location – Ghazipur Village Nearest Metro Station – Anand Bihar ISBT is close to this place. You can either take an auto or walk down. As soon as you enter this place, you will get the fragrance of different kinds of flowers. Different types of flowers are there in this market, right from marigolds, roses, orchids, tulips, carnations, lilies of different types are available here. When you are searching the places to see around Delhi, you are getting the options from the surrounding areas, which are mostly human-made or artificial, but this small village is delivering the beauty of nature. This is an astonishing magical place known for its beautiful collection of flowers in the market. This place has all sorts of flowers at unimaginable low prices. You must take a visit to this place if you are visiting Delhi. This flowery village is one of the best places to visit near Delhi. 6. Neemrana, Rajasthan Neemrana has been recently in the news with the rising air pollution level in the NCR region. So, the Graded Response Action Plan (GRAP-4) has started in Neemrana, which borders Rajasthan.  Just around 116 kms away from Delhi, is Neemrana in Rajasthan. It is the ultimate destination if you are a history buff.  Once the power seat of Rajput Chauhans was taken over, Neemrana has now become a heritage destination.  Neemrana Fort is the center of attraction here and it was built by the Chauhans. However, unfortunately, the fort became an abandoned place in 1947.  Further, in 1991, there was some revival work to transform the Fort into a heritage hotel.  Also, Neemrana is famous as the zipline site in India. So, you can go for a zipline tour here for some adrenaline rush.  You can even visit the Neemrana Baori here and learn how this underwater conservation project has been crucial in the social and economic evolution of Neemrana.  Moreover, you cannot miss enjoying a camel ride when in Neemrana. It is the best way to understand the traditional way of living in Rajasthan.  7. Nuh, Haryana Just around 2 hours drive from Delhi, Nua is one of the less-explored places to visit near Delhi. Its distance from the New Delhi Airport is around 63 kms.  If you are a history buff and have an interest in Sufism, you must visit the Sheikh Musa Mosque. This mosque has an association with the Chisti Order.  Further, if you love watching birds, you must spend some time at Hari-Ke-Pattan Bird Sanctuary. There is no entry fee to visit the sanctuary and it remains open between 9 AM to 5 PM. The Hari-Ke-Pattan wetland is a manmade wetland spanning across 4100 acres. 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The rich history and the perfect combination of modern attire and historical background are making this place a perfect tourist spot. The city’s culture is very devised, and this diversity is making Delhi a different kind of tourist place. When you want to feel the true vibes of Delhi, visit these unexpected surrounding tourist places along with the main city. When you want to feel the true vibes of the city, include the unexplored places to visit near Delhi in your itinerary. Along with the places mentioned, you can also visit Nizamuddin Dargah, Agrasen ki Baoli, and Meharauli Archaeological Park.  Further, Delhi is about exploring the local culture. From enjoying the whiff of spices at the biggest wholesale spice market in Asia (Khari Baoli Road) to taking a stroll around the painted houses in Naughara, you have a lot to do in Delhi. If you liked our post, please comment below, and do not forget to share your experience with us. 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