What currency is used in South Korea?

The official currency and legal tender of South Korea is the South Korean won

The currency of South Korea is the South Korean Won; shorthand KRW and symbol ₩. It is also known as the Korean Republic Won.

South Korea is hosting the Winter Olympics from 9th to 25th February 2018 and if you are travelling you will need Korean money. The host city is Pyeongchang where up to 90 countries are expected to take part in 102 events in 15 sports including alpine skiing, bobsleigh, figure skating and ice hockey among others.

Korean currency is called the Won in North Korea and South Korea but are issued by different banks, have different denominations and different sub-units. South Korean money is issued by the Bank of Korea and has note denominations of ₩1,000, ₩2,000, ₩5,000, ₩10,000, ₩50,000 and has coin denominations of ₩10, ₩50, ₩100, ₩500.

At the time of writing £10 would buy about ₩14,000 and for £1000 you could become a South Korean Won millionaire with ₩1,400,000!

Graham Morley

Graham is the Business Development Manager at Compare Holiday Money.

Published on 3 December 2017
South Korea, Krw, South Korean Won

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