Currency Information on South Korean Won - KRW— South Korean Won - ₩
One won is subdivided into 100 jeon, though the jeon is not used in everyday transactions, and is only used for displaying foreign exchange rates.
The won currently in use is the second incarnation of the currency, and it was introduced in 1962, when it replaced the hwan at a ratio of 1 won: 10 hwan.
In 1975, the last hwan were removed from circulation, meaning that the won was the sole currency of South Korea.
Banknotes are available in denominations of 100, 5000, 10,000 and 50,000 won, and coins circulate in denominations of 10, 50, 100 and 500 won.
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