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 best time to visit maldives

THIS Is When You Should Visit Maldives!

BY  Abdul Aziz Oct 27, 2023

The best time to visit the Maldives is between December and March. This small group of islands in the Arabian Sea is probably one of the most beautiful holiday destinations for both honeymooners as well as families. These tropical islands are hot and full of sunny weather. The heat stays between 23 degrees to 31 degrees, however, given the year-round sunny weather and the absence of winters in the Maldives, the best time to visit Maldives is anytime. Maldives In Dry Season The dry seasons in Maldives have a temperature of 31 degrees Celsius in the day and 24 degrees Celsius in the night. It is probably the best time suited to visit the islands of Maldives. You can enjoy cultural activities, sightseeing, try the local cuisine, and water sports. You can swim in the blue expanse where the average temperature of the water is 30 degrees. During these months, you can witness the Maldives at its best. The overall vibe of the islands is festive, and the crowd is thicker than usual. The weather and the beauty all around make the dry seasons ideal for visiting. Little to no rain and warm temperatures allow the seaside experience to become even more top-notch. With no precipitation, the visibility is crystal clear, making the picturesque island become even more vibrant. There are beautiful beaches, gorgeous lagoons, and colorful coral reefs to enjoy while you are here, which you won't get bored of. The country does get crowded during the peak season, but an individual resort inhabits each island, so it does not get too crowded. It will be reasonable for you to check before you plan a trip about the crowd and availability of a more personal experience. Some of the most popular locations in the Maldives are Nalaguraidhoo Island, Banana Reef, South Ari Atoll, and North Mal-Atoll. Another well-rated tourist spot is the HP Reef. This is a protected marine ecosystem that harbors rich marine life. Maldives: A Cultural Hub The major festival celebrated in November is the birth of Prophet Muhammad or Mawlid. It is the most well-known festival celebrated in a grand carnival style for two days. Street processions and elaborate mosque decorations dot the island. During peak season, the cost of staying at a hotel rises manifold, so if you are looking for more budget-friendly options, you can choose to visit in April. This marks the end of the peak times, and the tourism industry here enters the lean months. Maldives has become one of the top hotspots for Indian tourists not only because of its beauty but also its food options all around the world. The traditional cuisine of the Maldives is a plethora of fish, coconuts, and starches. Some of the common foods that come under seafood are local cuisine which includes yellowfin tuna, wahoo, skipjack tuna, and frigate tuna. With its geographical proximity to India, there is a lot of culinary influence that is evident in its spices, flavors, and curries. The laws here are very strict, so you must beware of carrying alcohol, pork, religious books, and tobacco products. And don’t forget to check the seasonal price hikes when booking water activities. Why Visit The Maldives? Now that you know when is the best time to visit the Maldives and you are still not sure what you could do there, we have all the answers for you. Keep reading to know what you can expect from a visit to the Maldives. Bioluminescent Water Under The Stars Visit the Vaadhoo Island in Raa Atoll, where the stars float in the water– the phytoplankton dinoflagellates that emit luminescent toxins. The small starry lights are emitted as a defense mechanism to keep other predatory fish and creatures away. You can walk through the planktons and create more stars that will be etched in your memory for the rest of your life. Maldivian Culture Along with all the natural beauty, Maldives also boasts a vibrant culture. If you want to become more aware of the culture, you must witness the Bodu Beru dance that takes place on the beach in the evenings. You can tape the moments on your camera or try dancing to the tune along with the dancers. The Maldivian boat Dhoni can also be another way you can get to know the local people and their stories. Swim With The Sharks The enormous whale sharks glide along the coral atolls, followed by smaller-sized reef sharks. They also swim around in the nearby lagoons around the resorts. This is not a matter of high alarm, as people can easily swim with these sharks, albeit with supervision. Maaya Thila, Baa, and Ari Tolls are known for shark spotting. You can encounter them at an up-close level or enjoy watching them come by daily at their feeding time near some resorts where they are given food. Best Places To Visit Here are a couple of the best places you can consider when planning to visit the Maldives. There are too many to enlist, we have brought two of the best you cannot remove from your to-do list. Alimatha Island If you are attracted by those pictures, you saw of small, single-residence villas standing in the sea and want to visit the Maldives, this is the name of the place. Instagram-worthy and absolutely breathtaking, this island is a must-visit. Tripadvisor Review “The island is wonderful. If you love peace, beauty, nature, snorkeling, diving, fishing, it's simply the place to go. Villaggio Bravo is perfect for families with kids, the miniclub organizes plenty of activities for them. The food is delicious: the buffet ha many choices. I was surprised to find mainly italians (it's an italian village) and so few foreigners. Maybe it should be better advertised abroad.” - Lushangyin Banana Reef Considered to be the home of the best reef in the Maldives, this beach makes your sunny dreams come alive. Tripadvisor Review “This is by far the best snorkeling I have ever experienced. The amount of marine life, the colors, the coral, the temperature of the water was amazing. I saw Moray Eels, Blowfish, Giant Clams and so much more. On the way out I dozens of dolphins escorted us and jumped out of the water...amazing. There is a very strong current and it is in the middles of the ocean. An absolute must tough if you can get there.” - Avery D Wrapping Up Are you planning a trip to the Maldives and want to know when is the best time to visit Maldives we hope you now know that it really is always a good idea to visit this heaven on earth. The peak season, though, is the dry months. If you have thoughts to share or questions to ask, please leave a comment below. We would love to hear from you! Read Also: Thailand Travel Guide: This Is The Best Time To Visit Thailand! The Stairway To Heaven Hawaii: Hiking Adventure’s Hidden Gem This Is The Best Time To Visit The Seven Magic Mountains In Vegas!

READ MORE do i need a visa for saudi arabia

Do I Need a VISA to Visit Saudi Arabia?

BY  Ankita Jun 7, 2024

You should purchase the visit to most of the countries in the world except for a few. Saudi Arabia is encouraging international travelers to visit their country and explore the beauty of their cities and Islamic landmarks in their country with the purpose of Umrah or booking an adventurous trip because there are a lot of places where you can enjoy the most.  In fact, tourism contributes a significant portion of the Saudi economy nowadays. People from different parts of the globe plan to visit Saudi Arabia to have a good time. That's why, Saudi Arabia is focusing on providing facilities to visitors so that they can enjoy at best.  The same goes with pilgrims as well. Pilgrimage also contributes to the Saudi economy and helps the government to maintain the spirituality of the land. This is a reason the Saudi government ensures that pilgrims have a fulfilling experience during their stay. Umrah packages also help pilgrims in this regard. The purpose is to make pilgrims free from tackling management and focus on Ibadah.  However, the question is whether visitors can enter Saudi Arabia without a visa. If not, what type of visa should they consider before proceeding with their plan? Well, read ahead.  Why Do I Need a VISA When Visiting Saudi Arabia? KSA is a hub for Islamic landmarks. Because the kingdom is significant both in terms of spirituality and modernity, it has become a top priority of visitors nowadays. Some of them want to explore Saudi heritage, while others seek closeness to Allah and his house, the Kabbah.  But it requires you to have a relevant VISA anyway. A VISA document is a legal issuance certificate that outsiders need to enter a foreign country. Just like other countries, Saudi Arabia also requires you to have a VISA.  For pilgrims, it's easier to get VISA approval through Umrah packages. Providing VISA application assistance and ensuring VISA approval is part of these Umrah and Hajj deals.  The same happens with cheap plans like the 12 Nights 4 star Umrah package. You just have to arrange the required documents and enter personal details on the VISA application. Then, the travel agencies take care of application submission and approval.  Though visitors don't have to apply for VISAs through Umrah package deals, they require a VISA to enter Saudi Arabia. However, these VISA requirements and details are different under different conditions. So, let's see what type of visa you should consider according to your plans. Who Needs a VISA? Just like in other countries, entering Saudi Arabia also requires a VISA. A VISA refers to a travel document or a legal statement.  The main purpose of requiring a VISA is to define your purpose for visiting the country of Saudi Arabia. If you are a business traveller, tourist, or pilgrim, you need to apply for a specific type, for instance.  In addition, visa documents are also necessary for countries to keep checks and balances on the entry and take-off of tourists. Through a VISA, tourists can claim their rights to their respective country's government. Similarly, it also guarantees the safety and integrity of the country.  The same policy is for Saudi Arabia. You should apply for a specific type of VISA to enter the KSA. However, Saudi Arabia also has exceptions.  Our honourable customers who are living in some of the Gulf countries like Bahrain, Kuwait, Oman, and Qatar can enter the boundary of Saudi Arabia without a VISA. Similarly, the VISA Waiver Agreement allows some travelers to apply for a VISA on arrival in the Kingdom of Saudi Arabia.  In general, visitors must need a VISA to enter Saudi Arabia. However, it is better to research whether you need a VISA or not. And if so, what type of visa do you need? Types of VISA for Saudi Arabia Saudi Arabia earns a lot of money from tourism. It includes pilgrims and tourists alike. Therefore, Saudi Arabia focuses on enhancing the experience of visitors. The VISA process and requirements also reflect the simplification of visiting Saudi Arabia.  For instance, Saudi Arabia issues different types of VISA documents to travellers according to their needs. This way, the process of entry into the kingdom works. In general terms, the price of all these VISA types varies depending on the purpose of the visit. For example, travellers apply for tourist VISAs and can stay in the country for up to 90 days. Tourist visas, Umrah visas, Hajj visas, business visas, and work visas are the most common types of VISAs that are availed from Saudi Embassies by global travellers. This VISA type comes with a validity of one year with multiple visits in a year.  Umrah VISA and Hajj VISA An Umrah VISA tells everything. Pilgrims apply for an Umrah VISA to perform the Umrah pilgrimage. Umrah packages also help them engage with Ziarat tours. This VISA type offers a short validity period, usually equal to the duration of the Umrah pilgrimage only.  Similarly, pilgrims get a Hajj VISA to perform Hajj. Hajj VISA also comes up with short validity, often for the duration of Hajj.  Business VISA Business VISA allows people to visit Saudi Arabia for work activities. For instance, with a business VISA, you can attend meetings or conferences in Saudi Arabia.  However, it's a dynamic type of VISA that comes up with multiple entries as well as a single entry, depending on your work requirements and duration.  Employee or Work VISA Another type of Saudi VISA is a work VISA. It's for individuals who have a job offer from Saudi Arabia and want to live there as an employee. Work VISAs remain valid up to the job contract or need renewal frequently.  In short, Saudi Arabia streamlines the process of entry into the kingdom. So, define the purpose of your visit and apply for a relevant visa. VISA Requirements Now, you will find out what type of VISA you have to get. After all, it's easier to spot until the purpose of your visit is clear to you. Here, a question hits your mind: how to you apply for a Saudi VISA?  You should collect all the necessary documents. These include:  a valid passport passport size photographs VISA application form proof of hotel accommodations in KSA non-refundable tickets. In some of cases, it is also important to avail yourself of travel insurance, health insurance, and relevant additional documents.  After making sure you have the necessary documents on hand, proceed with the application process. Note that pilgrims have to apply for an Umrah VISA through Umrah packages. The same goes for affordable deals like the 12 Nights 4-star Umrah.  However, travellers, visitors, and working employees can apply for Saudi VISAs through the eVISA portal.  To proceed, follow these steps: Go to the eVISA official page and fill out the application form with personal and travel details. Upload the necessary documents and pay the VISA fee. Submit the form and look for approval. Visitors can also apply for a VISA in person through the embassy. Take an application form and the necessary documents. Fill out the application form, attach the documents, and visit the Saudi embassy to submit the documents in person. Also, pay the fee there as they will guide you and wait for the approval. Tips to Ensure VISA Approval Applying for a Saudi VISA document is straightforward. This is because Saudi Arabia streamlines the whole process to promote tourism. However, some people still find the whole process challenging, and it has some reasons.  For instance, leaving the application form incomplete is a common mistake that ends up with a VISA rejection. To avoid it, read every section of the application form carefully and fill in all the required fields. Also, double-check the form before submitting it.  On the other hand, some people add inaccurate information to the application form, which can also cause visa rejection.  For instance, avoid spelling mistakes, wrong passport numbers, and incorrect travel dates in the application form. The best solution to avoid these mistakes is to cross-check all the information with your official documents and details.  Conclusion Following this, make sure to avoid missing documents while submitting the application form. So, be careful with your documents and make a list of required documents in the first place. After that, as you upload the document, mark that one on your list, and that's it.  Similarly, providing poor-quality photos and submitting late application forms also lead to VISA rejection. So, follow the photo guidelines beforehand and also submit the application form in advance. It will save you from approval delays all the way. Additional Reading: From Sunrise To Sunset: A Day’s Itinerary For Exploring Benidorm Viva Las Vegas: Your Ultimate Travel Itinerary For An Unforgettable Trip! Ensuring Approval: The Power Of A Well-Crafted Two-Way Itinerary For Visas

READ MORE things to do in leeds

Things To Do In Leeds: Dive Into The Dynamic Heart Of Yorkshire

BY  Abdul Aziz Nov 22, 2023

Do you want to travel without breaking the bank? Leeds offers affordable options for city breaks that let you discover new things. We've compiled some ideas for ways Leeds is an inexpensive city destination for singles, families, and couples. It offers inexpensive nights out to the fascinating year-round calendar of festivities as part of Leeds 2023. Most museums and galleries in Leeds are free to enter. Let's explore and find out the best things to do in Leeds. Things To Do In Leeds cloudfront.net Leeds has gained a reputation in recent years as the liveliest city in the UK, with a broad and welcoming cultural scene. Leeds is a city full of culture, from venues and organizations that are breaking new ground to street art trails. This is partially attributable to Leeds' abundance of museums and galleries, the majority of which offer free admission. A few of the best art galleries in the city may be found in the cultural district of Leeds, including the Henry Moore Institute, Leeds Art Gallery, Leeds Central Library, and Leeds City Museum, all of which are only a two-minute walk apart. Leeds City Museum offers amazing exhibitions and artifacts that let you travel through time and experience amazing history. Leeds Art Gallery features exhibits of Victorian art, sculptures, paintings, and portraits. It also has one of the best exhibits of 20th-century modern art outside of London. The Henry Moore Institute, one of the biggest sculpture exhibitions in Europe, honors the art of sculpture. The Leeds Central Library holds a great collection of books from all over the world. Things To Do In Leeds: Museums & Art jaga.co.uk There are always plays or other forms of entertainment in Leeds because of the city's outstanding theaters and touring companies. Leeds Grand Theatre - one of the UK's most stunning Grade II listed theaters - offers shows for as little as £15. This is home to Northern Dance and Opera North, the only resident dance and opera companies in the country outside of London. Some of the most well-liked Westend productions, including Sister Act, The Bodyguard, and Dirty Dancing, are also available online for a reduced price. Do you need more excuses to visit? Leeds is hosting its Year of Culture in 2023, which makes it an extremely interesting year for the city. A calendar of events is planned for the entire year, all throughout Leeds, with the goal of "letting culture loose." There are countless options for events and activities that highlight the vibrant arts and culture of the city and its residents. Most events are either free or "pay as you feel." Some of the highlights include 90 painters from throughout the city on display at Leeds Art Gallery. They will be showcased at the "The Leeds Artists Show" through April 30. Pay what you feel for "As You Are," a sound, walk-in musical experience designed by South African cellist Abel Selaocoe. It will be held for the Orchestra and Chorus of Opera North. There is still a lot to look forward to. Things To Do In Leeds: Food & Cuisine welcometoleeds.co.uk Searching for a culinary-themed staycation? Leeds is the ideal place to be. The city, which is home to a booming independent food industry, has several cafes, bars, pubs, and restaurants. Leeds is the unofficial gastronomic capital of the North. Not sure what you want to do? Visit Trinity Kitchen. Trinity Kitchen is a great spot to visit for lunch, supper, or even an afternoon snack. It features rotating street food vendors serving it all, from pizza to Pho. It has a laid-back, distinctive setting for you to enjoy lunch, dinner, or afternoon snack. Kirkgate Market also has a similar street food setup. Kirkgate Market, where M&S first made its appearance, is currently the largest indoor market in Europe. Its recently renovated food hall is home to some delicious treats. There is the award-winning Manjit's Kitchen- a vegan Punjabi street food vendor. There is also Fat Annie's- an entirely plant-based restaurant serving American-inspired burgers and hot dogs. You must also visit the renowned Yorkshire Pudding Wrap Company to indulge in one of their delicious wraps. Searching for new openings in the food and beverage industry? Leeds can take care of that.  The brains behind Doh'nut, the greatest doughnuts in town, opened Things in Bread, a brand-new gourmet sandwich store right in the middle of the city center. You're onto a winner when you find traditional sandwich flavors made with premium ingredients and freshly baked bread. Things To Do In Leeds: Parks & Greens There are numerous ways to enjoy Leeds, so a trip to this city offers more than just the bustle of the city center. You can find some of the most breathtaking natural beauty in the UK beyond the nightlife, museums, shops, and restaurants. Roundhay Park, a few miles outside the city center, has more than 700 acres of parkland, lakes, woods, and gardens. Get hot beverages and snacks from the on-site Lakeside Cafe. Visit the nearby Tropical World for a family-friendly island experience. In the desert, meerkats stand boldly, while exotic butterflies and birds are free to roam throughout the recreated rainforest habitat. Adult admission to Tropical World is £7.20, £3.80 for children, and kids under five enter for free. One of the most well-loved tourist destinations in the city is the medieval ruins of Kirkstall Abbey. It is located just outside of the city. Tickets are £5 for the ruins and expanse of grounds to check out; children under five are admitted free of charge. The Leeds-Liverpool Canal runs alongside Kirkstall Abbey, so why not take a leisurely stroll down it first? Things To Do In Leeds: Architecture & Heritage travel-assets.com Leeds is also an ideal starting point for discovering the splendor of the surroundings. The Yorkshire Dales National Park, which is home to some of Yorkshire's most famous landscapes and attractions, such as the Yorkshire Three Peaks, Ilkley Moor, Bolton Abbey, and the adjacent ancient towns of Harrogate and Knaresborough, is conveniently accessible from Leeds station. The industrial towns of Yorkshire are also well worth a day trip. Nestled next to the Leeds-Liverpool canal, Saltaire is a UNESCO World Heritage Site. It's a great place to spend a leisurely afternoon strolling through its charming alleys or visiting the well-known Salts Mill. It's certainly worth the journey, with a magnificent variety of Hockney artwork, literature, flowers, cuisine, and 21st-century business, and free admission.  When you take an inexpensive city holiday to Leeds, you may discover all of this and more. Things To Do In Leeds: Lodging nationalparks.uk Book a stay at Art Hostel for consistently reasonable and distinctive lodging. It is the first establishment of its kind in the UK and the ideal spot to unwind after a strenuous day of sightseeing. Regional artists from East Street Art designed imaginative, reasonably priced, and distinctive lodging. It is a vibrant, artist-run company that spearheads avant-garde art initiatives and shows. The Art Hostel's themed rooms are all the product of the creative minds of Leeds-based artists working with regional artisans. Wrapping Up Leeds is a great place to take an inexpensive staycation in the UK because there is a lot to do there. The city is filled with events that do not break the bank. Use this guide to figure out how to spend your time here, whether you have 24, 48, or 72 hours. If you have thoughts to share or questions to ask about things to do in Leeds, please leave a comment below. We would love to hear from you! Read Also: Brighton Bliss: Crafting Your Perfect Coastal Getaway Itinerary Unmissable Urban Delights: Things To Do In Glasgow UK City Hidden Gems: Things To Do In Manchester