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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5 Leading Golden Visa Programs For Wealthy Investors

BY  Abdul Aziz Feb 26, 2024

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How Do I Keep My Child Occupied When Traveling? 

BY  Abdul Aziz Feb 2, 2024

Ah, summer vibes mean vacays, road trips, and the classic "Are we there yet?" soundtrack. But let's face it, keeping kiddos entertained during long car rides is no easy feat. The struggle is real! And we all know too well that screen time takeover – not the best road trip memo. Why miss out on the fun? Road adventures are a golden chance for your little explorers to dive into new activities, discover cool stuff, and dive into some classic road trip games. Because let's be real, they won't remember the drive if their eyes are glued to a screen. Time to make those miles memorable. I mean, if you're living in a place for a few days, I think you might be Looking for soccer camps all around. However, if you can’t find something as such, we would suggest you go through the following tips instead. Tip – 1: Make The Entire Thing A Game  Picture this: you're on a classic car ride, cruising down the road. Now, you've got your go-to games like I Spy, Car Bingo, and The License Plate Game. But when those start feeling a bit too familiar, it's time to turn up the fun with some karaoke action! Now, I get it, not everyone's a singing superstar, so let's mix it up. Try this game called Karaoke Masters: create a playlist of tunes everyone knows before you hit the road. Play just a few seconds of a song, and let the kids guess what it is. Throw in some rather goofy ones like "Old McDonald Had a Farm" or "John Jacob Jingleheimer Schmidt" for extra laughs. Trust me, it's a road trip game-changer! Note: Ever tried those travel trays for road trips with the kids? I swear by them! They’ll give the little ones a handy flat space for coloring, drawing, or whatever keeps them busy. Plus, no more stuff rolling off with that raised edge. And get this – there's even a cup holder and pockets for snacks. Safety-wise, the edges are soft and padded, just in case. Perfect for meals on the move too! 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Paris Transforming Historical Sites Into Olympic Venues (Olympics 2024 Travel Plan Made Easy)

BY  Sibashree Aug 2, 2024

Paris is the land of multiple World Heritage Sites, such as the Eiffel Tower and Château de Versailles and many other structures showing the excellence of French architecture. So, there is no wonder that Paris is transforming historical sites into Olympic venues.  However, there are multidimensional aspects behind choosing these important sites or places of tourist attractions as Olympic venues. Of course, it’s a brilliant move to boost tourism in the “World’s Most Powerful City Destination.” The Travel and Tourism Sector of Paris was worth a whopping $36BN USD in 2022.   Further, choosing these sites as Olympic venues has a sustainability aspect. It’s an endeavor to reduce the carbon footprint drastically and make the Paris Olympics the “Greenest Olympics” ever.   Are you traveling to Paris and have plans to catch up on the Olympic events? Get your travel plan right by knowing the historical places to visit, why they are significant travel destinations, and how choosing them as Olympic venues is a sustainable move.   Paris Transforming Historical Sites Into Olympic Venues (Make Changes In Your Travel Plans)  https://www.instagram.com/p/C95mF-atRPK/?img_index=1 Various historical sites in Paris have become the stage for gala Olympic events. So, know the historical places to visit if you are traveling to Paris now and want to enjoy the games and the history of the iconic city altogether.   Here, you will first see a table mentioning the historical venues and the Olympic events that will take place there. Later, you will find brief descriptions of the historical importance of these places.  1 Historical Site Olympic 2024 Event  The Seine River The Olympics Opening Ceremony Men’s Marathon Swimming Competition (Tentatively on 8th and 9th August 2024 After Postponement) Eiffel Tower Stadium  Beach Volleyball and Blind Football Pont Alexandre III Triathlon, Para triathlon, Swimming Marathon, and Individual Cycling Time Trials The Grand Palais Taekwondo and Fencing Château de Versailles Equestrian events from July 27th to August 11th and from September 3rd to 7th, 2024 The Stade Yves-du-Manoir in Colombes (92) Field Hockey Games   It All Begins On The Seine River With The Opening Ceremony   Best Time To Visit The Seine River: June-August  The 2024 Olympics has seen the most unusual opening ceremony held on the Seine River. The river is named after Sequana, a Celtic Goddess.   Further, this river has been an important bearer of French culture, identity, and life. l'école de Honfleur, one of the most prominent impressionist movements in France, was inspired by this river.   Also, as you take a boat ride in this river, you can see the most iconic monuments in the city. Looking at the Eiffel Tower or the Louvre Museum is surely going to be a lifetime experience for you. The Sainte Chapelle and Cathedral of Notre Dame are other significant pieces of architecture that can be seen from the river.   The Eiffel Tower Stadium   https://www.instagram.com/olympics/reel/C9SCB2DCNrt/ Best Season To Visit The Eiffel Tower Stadium: June to September  Are you looking for “Paris tourist sites Olympics 2024?” Visit the Eiffel Tower Stadium on the Champ-de-Mars. Beach volleyball games at this venue are already gathering a lot of attention, with tourists finding the place “Instagrammable.”   The Eiffel Tower is the stadium and is often interpreted as the tangible form of the human desire to reach the sky. It became a UNESCO World Heritage Site in 1991, and today it is the most visited “paid monument” in the world.   Pont Alexandre III  Best Season to Visit: September to April  Pont Alexandre III is a bridge named after Russian Tsar Alexandre III, and it celebrates the historic alliance between Russia and France. This year, the bridge will be entering its 125th year as it was built between 1896 and 1900 for the “1900 World Fair.”   With a steel base, the bridge stands out for its gold-plated statues of bronze, cast-iron lamps, and stone pillars.   The Grand Palais  Best Season to Visit: September to June  The Grand Palais is dedicated to the “glory of French Art.” It was built in 1900 for the Universal Exhibition. Exactly 100 years after its foundation, the Grand Palais got its designation as a historic monument in 2000.   This architectural excellence was made with glass, stone, and steel. It portrays an excellent fusion of the Baroque style and classicism.   Further, the polychrome friezes in the ceramics and mosaics, iconic statutes, and embellishments tell fascinating stories about the excellence of French architecture and art.   Château de Versailles  Best Season to Visit: April to October  The Château de Versailles is a World Heritage Site (designated in 1979) with its grounds and gardens. It is the official residence of the French King and also the largest Château in the world. Further, it is the greatest outcome of the 17th century French Art.  Built by King Louis XIV, the palace today has a magnificent presence covering 63,154 m2 area. However, the Château de Versailles is not just a remarkable site for its magnanimousity. It also stands tall for its creative excellence and originality.   Moreover, the Château de Versailles was  “The absolute seat of power of the monarch, Versailles was the best formulated and best adapted crucible for French court life for a century and a half (Louis XIV perfectioned “etiquette”) and artistic creation in the domain of music, theatre and the decorative arts. Numerous scientific discoveries were presented there, encouraged by the kings, founders of royal academies.”  The Stade Yves-du-Manoir in Colombes (92)  Best Season to Visit: Any Season  The Stade Yves-du-Manoir in Colombes (92) makes history as one of the rarest venues to host two Olympic games. It was the main venue for the 1924 Summer Olympics, and this year, it will host the field hockey games.   The stadium gets its name from Yves du Manoir, a noted French rugby player.   Transforming Historical Sites Into Olympic Venues: An Important Aspect Of Sustainable Promises   Paris Olympics 2024 promotes and practices the complete use of renewable energy. The locally sourced renewable energy is a fruit of the Olympics’ goal of maintaining sustainability. If you are traveling to different Olympic venues in Paris, you will notice the following sustainable practices.  No use of diesel generators  Connection to the grid, enabling the use of sustainable energy  Solar panels in the Aquatics Centre and Olympic Village  Geothermal cooling systems in the Olympic Village (No use of traditional airconditioning system)  Use of recyclable material in building the Aquatics Centre, the only new permanent venue   More Insight Into Sustainable Transformation Of The World’s Most Iconic Tourist Sites Into Olympic Venues In 2024  Further, the International Olympic Committee and Paris are abiding by the promise of sustainability by transforming historical sites into Olympic venues. In the Paris Olympics 2024, 95% of the events will take place at existing historical sites or buildings. This is a conscious decision to practice economic and environmental sustainability.  2, 3 Overall, the Paris Olympics 2024, by transforming historical sites into Olympic venues and using renewable energy, is trying to be the “greenest Olympics ever.” The plan is to reduce the carbon emissions to half in comparison to the previous chapters in London, Rio, and Tokyo (2012, 2016, 2020).   The Committee is particular about its commitment to legacy planning. Further, the reuse of infrastructures is going to be a crucial factor in making the events carbon neutral.   In addition, by choosing the historical sites in Paris as Olympic venues, the International Olympic Committee (IOC) takes one step forward in its effort to minimize the environmental impact of the game. This IOC initiative has been going on since 2017.   Paris organizers, however, made their stance clear on converting historical sites into temporary Olympic venues in 2016. In a report to the International Olympic Committee, they wrote,   “Temporary venues in iconic locations, which will see the city’s greatest sites transformed into stunning stages for sport and embedding the Games in the public domain.”  Along with practicing sustainability, this move has been a wonderful way to impress spectators and get more advertisers and sponsors on board.   Olympics On Mind: Space Travel And The Greatest Sports Event  The frenzy for the Summer Olympics 2024 in Paris reaches the sky. The six living astronauts in the International Space Station showed that they had the Olympics on their minds.   Jeanette Epps, Mike Barratt, Sunita Williams, Tracy Caldwell Dyson, and Butch Wilmore kickstarted their mini Olympics in space by passing the Olympic torch.   In the July 26th video published by NASA, we get to see how the astronauts playfully gear up for their events. Jeanette Epps and Sunita Williams shook up their arms, and Butch Wilmore gulped a water globule roaming around his head. Then, he stretched his upper body.   Sunita Williams further showed some gymnastics moves to up the Olympic spirit in space. However, Butch Wilmore shot-putting a duct tape ball and Mike Barratt launching a discus were the highlights of the fun activities in space.   Matthew Dominick, the NASA scientist currently living off Earth, has said, “Over the past few days on the International Space Station, we've had an absolute blast pretending to be Olympic athletes.” The activities were more fun because of the weightlessness in the space.  4 Who knew that there would be a marriage of space travel and the Olympics like this?   Final Words   With Paris transforming historical sites into Olympic venues, it’s time to plan a trip to the French capital from 26th July to 11th August.  It’s time you enjoy the greatest sports events and encounter the best chapters of French history at once. These picturesque locations are also great for clicking photographs for posterity and garnering attention on your socials. Also, visiting these places this season can be a small contribution on your behalf to acknowledging the importance of sustainability in travel, tourism, and gala events.   So, are you planning to visit Paris during the Olympics? Bon voyage! Also read Top 10 Most Popular Paraguay Food That You Must Try. Top 13 Famous Wonders Of India That You Must Visit! [Updated 2024]