South Korean Won is the currency of the Republic of Korea. Bank code - KRW. 1 won is equal to 10 hwans, but currencies less than 1 won have been withdrawn from circulation. The denominations of the current banknotes are 50,000, 10,000, 5,000 and 1,000 won. Coins: 500, 100, 50, 10, 5 and 1 won.

There are two versions of the spelling and pronunciation of the currency of South Korea: “won” in the feminine, as prescribed by the Spelling Dictionary of the Russian Language of the Russian Academy of Sciences, edited by V.V. Lopatin, and “won” in the masculine, as the Bank of Russia writes in its daily quotes. This is due to the complexity of translation from Eastern languages.

On the front side of South Korean banknotes in denominations of 1 thousand won, a portrait of a philosopher and thinker of the 16th century is depicted. Lee Hwan, mennyundan (a traditional Confucian classroom at Sungkyunkwan University), and an olive flower. On the back - a coastal landscape of a rocky sea coast. For 5,000 won - one of the most prominent Confucian scholars of the 16th century Li Yi against the backdrop of the Ojukhon Museum Complex in Gangneung, as well as black bamboo and a reproduction of the work of Li Yi's mother, artist Sin Saimdang "Insects and Plants". The 10,000 won depicts the fourth ruler of the 15th century of the Korean dynasty, Lee Sejoy the Great, under whom a cultural upsurge took place in the country and an old Korean globe of the 17th century. For 50 thousand won - the artist, poetess, calligrapher of the 16th century, Sin Saimdang, and on the back - bamboo and Japanese plum.

On the reverse of all South Korean coins, the denomination, the name of the issuing bank - the Bank of Korea - and the year are written. The obverses of the coins are different. On 1 won is the Syrian hibiscus flower, the symbol of the country. On 5 won - kobukson - literally translated as a turtle ship, a medieval Korean military sailboat. At 10 won, the stone pagoda at Bulguksa Monastery, called Tabothap, or Pagoda of Many Treasures. For 50 won, a rice flower. On 100 won - Lee Sunsin, the legendary naval commander of the 15th century, who won a number of victories over Japan. The largest South Korean coin of 500 won depicts a crane.

The history of the Korean currency begins in the III century BC with the first banknotes, which are coins in the form of knives, as well as grain. The latter existed until the 11th century, when there was a transition to the minting of steel means of payment. In the 11th-12th centuries, copper and silver coins were also produced, but their circulation was limited.

In 1392, the Goryeo Dynasty was succeeded by the Chosen Dynasty, under which several reform attempts were made. monetary system countries. In the 17th century, 24 mints were opened, which began minting copper and bronze coins. In 1633, the mun became the official currency. In 1892, the moon was replaced by the yang, the first currency in Korea to have a decimal system (1 yang was equal to 100 fans). And in 1902, a denomination was carried out in the country, as a result of which a won equal to 5 yang appeared. In 1909, the Bank of Korea was created, which took over the functions of the issuing bank.

Soon after the Second World War, the hwan became the monetary unit, its rate was 15 hwan per US dollar. In 1948, Korea was divided into two independent states - North and South Korea. In fact, a civil war was going on in the country - not without the participation of external forces: the USA, China, the USSR. At the same time, the Korean hwan experienced a series of devaluations: in 1947 it was 50 hwan per US dollar, in 1948 - 450, 1949 - 900, 1950 - 1.8 thousand, and in 1951 - already 6 thousand

In 1962, the country was held monetary reform, in which 10 hwans were exchanged for a new currency - the South Korean won. At that time, the exchange rate was 125 won to the US dollar. Until 1980, the Bank of Korea fixed the exchange rate against the US currency. At the same time, by May 1964 it was 255, in 1972 - 400, and in 1980 - 500 won per US dollar.

Since the 1980s, South Korea has embarked on a course of liberalization. foreign exchange market. And in 1997, in agreement with the International Monetary Fund, the won became a freely convertible currency, the quotes of which are determined by supply and demand.

The latest devaluation of the South Korean Won occurred as a result of the Asia-Pacific crisis - then it fell in price by half.

In the spring of 2012, the won exchange rate fluctuates between 1,125 - 1,140 per US dollar, 1480-1510 per euro. In relation to our currency, 100 won are worth approximately 2.57 Russian rubles.

The South Korean Won is one of the instruments Forex market. In addition, it may be of interest to investors: the country has demonstrated stable growth for decades (with the exception of periods of global crises). South Korea has a developed high-tech export-oriented industry.

Despite the liberality of the currency legislation of South Korea, those who travel to this country need to know certain rules. Import foreign currency it is possible in any quantities, but for an amount exceeding 10 thousand US dollars, a declaration is required, which will have to be kept until the end of the trip. Upon entry, undeclared currency or checks totaling more than $10,000 may be confiscated and the violator fined.

It is allowed to export foreign currency within the limits stated in the entry declaration. South Korean won can be exported up to 8 million won. Unused won can be exchanged back upon presentation of an exchange certificate issued by local bank. In the absence of such, you can exchange no more than 100 dollars.

The Republic of Korea, in fact, is a fairly advanced state that has its own national currency -.

History of the South Korean currency

State monetary units were introduced into free circulation in 1950, immediately after the creation of the Republican Bank. More than one financial republic fell on their fate, as a result of which the currency was replaced by the yen, and then by the hwan. And already in 1962, in the status of the state currency of South Korea, the won again appeared before the people.

Description of coins

To date, the South Korean bank provides 6 monetary units in the form of coins. Coins in denominations of 1, 5, 10, 50, 100 and 500 are in circulation. However, most local residents argue that nominal coins of 1 and 5 fall into hands quite rarely and are practically not used in everyday life. They are gradually being phased out, and all prices are rounded up to 10 won as much as possible.

Description of banknotes

To date, banknotes of 1000, 5000, 10000 and 50000 have been officially put into circulation in the country. The smallest has a blue color and has received the image of Lee Hwan. Li Yi flaunts for 5000, Sejong the Great for 10000, and the beautiful Shin Saimdang adorns the largest bill.

Currency exchange features

The national currency in Korea is in demand exclusively within the country, so you should take care in advance to purchase it before your trip. But to exchange any money here is not a problem at all. The exchange is made in all banks, bank stores and even in the markets. Exchange offices are located at almost every step, and many of them work around the clock.

Many stores freely accept US dollars as payment. But there are also outlets that are strictly forbidden to take U.S. $, so you should ask the local population or sellers in advance. Any foreign money in Korea is subject to exchange, as the country is extremely interested in financial turnover which brings great benefits to the state. Bank debit and credit cards are also freely accepted here, but you should ask your bank in advance about the conditions for withdrawing and paying abroad.

Exchange rate to dollar, ruble

The current exchange rate of the South Korean won against the ruble (09/24/2018) is: 1 RUB = 16.19 KRW. As a rule, this indicator is stable, since it is not characterized by sharp ups and downs. If we talk about the American dollar, then its current exchange rate is: 1 KRW = 0.00089 USD.

What money to take to Korea

When planning a trip to this country, there is no need to worry about the peculiarities of the Korean currency. By and large, you can easily come here with absolutely any currency and make a fairly profitable exchange for wons in denominations of 1000, 5000, 10000 or 50000. Tourists from Russia, America, Europe and other regions can safely bring the money they have on hand and exchange it in place. Moreover, it is quite problematic to find exchange offices in your country that convert in the opposite direction. Therefore, if you plan to re-visit South Korea in the future, it is definitely recommended to stock up on the South Korean won, which can partially be classified as curiosities or rare things.

If you are going to visit South Korea, then you should definitely understand the local currency. Of course, the first thing you need to know is the exchange rate. But history is not unimportant. After all, while traveling, you will constantly deal with Korean banknotes and every time you will see the same faces on them. And, like any self-respecting tourist, you should definitely learn a little more about the people whose faces adorn Korean money.

Briefly about the main

• Name: South Korean won.
• Designation: ₩.
• Currency code: KRW.
• Denomination (banknotes): 1000₩. 5000₩, 10000₩, 50000₩.
• Denomination (coins): 10₩, 50₩, 100₩, 500₩.
• The country's central bank: Bank of Korea.
• Korean won to euro: 1000₩ = 0.81€.
• To the dollar: 1000₩ = $0.88.
• To the ruble: 1000₩ = 50.02 rubles.

Story

The won has been used as a currency for thousands of years. However, from 1910 to 1945, Korea was a Japanese colony, and Japanese money (yen) was used in the country.

In 1945, after World War II, the country split into South and North Korea. Then it was introduced new currency- out.

Initially, the Korean won was pegged to the US dollar at a rate of ₩15=$1. This was followed by a series of devaluations, some of which were related to the Korean War.

By 1951, the won had depreciated to 6,000 won per dollar. In an attempt to solve this problem, a new currency, the hwan, was introduced in 1953, at a rate of 1 to 100 against the won.

Until 1962, the currency of South Korea was the hwan. Then Korean money became won again, and then began a long process aimed at moving to a floating exchange rate.

Despite some shocks, the exchange rate remains relatively stable and efficient.

1000 won - thinker Lee Hwang (1501-1570)

The front side of the banknote depicts an outstanding Korean scientist of the Joseon Dynasty - Lee Hwan. He possessed incredible mental abilities, was the author of many books on Confucianism. He was also extremely talented in calligraphy and poetry. Lee Hwan is a prominent politician of the time. During his forty-year career, he faithfully served four monarchs of the Joseon era.

The reverse side of the banknote depicts a private Confucian academy founded by Lee Hwan.

5,000 won - Politician Li Yi (1536-1584)

Li Yi is a respected politician and one of two well-known Confucian scholars, a student of Li Hwan (the man depicted on the 1000 banknote). He was incredibly smart: he could read at the age of 3, and by the age of 7 he had finished learning the basics of neo-Confucianism. At the age of 13, he passed the exam for admission to public service, and at 16, after the death of his mother, Sin Saimdang (depicted on 50,000 won), decided to devote his life to the study of Buddhism.

10,000 won - King Sejong the Great (1397-1450)

King Sejong is called great for a reason. This historical figure is known to every inhabitant of the country, and it is not for nothing that his portrait adorns Korean money. It is this king who is considered the creator of Hangul - the Korean alphabet. During his reign, he contributed to the significant advancement of the country not only in literature, but also in science, military and technical fields. His statue, located in front of the Gyeongbokgung Palace, is one of the must-see attractions in Seoul.

On the reverse side of the banknote, you can see 3 inventions of the great ruler (by the way, their bronze copies are also located next to the statue of King Sejong): a globe, a rain gauge and a sundial.

50,000 won - artist Sin Saimdan (1504-1551)

Sin Saimdan is a well-known artist, calligrapher, poet and writer. She is the first woman to appear on a South Korean banknote.

She became famous as a good wife and wise mother, and also did many things that women of that time could only dream of. For example, Sin had no brothers, so she acted as the eldest son for her parents. To a certain extent, she can be classified as a feminist, because Saimdan was able to get an education, which in those days was considered the prerogative of men.

The reverse side of the banknote depicts a Japanese plum, one of the artist's favorite plants.

coins

Today it is extremely rare to find coins in denominations of 1 and 5 won, but until recently they were actively used. Depending on the denomination, the "eagle" looks like:

• 10 won - Tabothap Pagoda, known as the Pagoda of Many Treasures at Bulguksa Temple;
• 50 won - rice flower;
• 100 won - a portrait of Lee Susin - the Korean commander of the fleet;
• 500 won - Turumi - a flying red-headed crane.

Korean money is quite easy to distinguish: banknotes are distinguished by color and size, coins by size. Just like the money of many other countries, they are imbued with a hidden meaning for local residents, and for tourists they can become a good souvenir if they suddenly didn’t have enough time to buy magnets.

Many independent travelers are concerned about the answer to the question, what currency to take to Korea? We answer and give useful advice.

What is the currency in Korea: Won (KRW);
What money to take with you: Dollars (more details below).

South Korea has its own National currency– Won (KRW). It is recommended that travelers take it. The most popular banknotes in Korea are banknotes of 1,000, 5,000 and 10,000: they can be used to pay for lunch at a cafe, sightseeing, souvenirs, subway or bus travel. Conveniently, the cost of most goods is expressed as a round sum, and the seller does not have to give change. There are also coins in circulation, but, as a rule, tourists do not need them. Take with you Russian rubles doesn't make sense: you can change them to won, but it is quite inconvenient and takes a lot of time.

In addition to the national won, in some Korean small shops you can pay in dollars: as a rule, sellers recalculate the cost of goods according to the current market rate, which is not very different from the official one. But large supermarkets, chain stores, restaurants accept won only.

Today you can find out the won to ruble exchange rate using this calculator.

Travel agents may recommend that you exchange currency at Seoul Airport. However, do not rush into this. It may turn out that the exchange at the bank in your city will be much more profitable than at the place of arrival. Some guides may offer you to change money in the so-called "underground" exchange office, which are very numerous in the Korean capital, and the exchange rate there is quite favorable. But do not lose vigilance and immediately agree to such an offer. You can only do this if you absolutely trust your guide, otherwise you risk losing money and becoming even despite the fact that Seoul is a fairly prosperous city in terms of crime. It is better to make money exchange in banks that work daily from 09:00 to 17:00, but it is worth remembering that they do not exchange currency here on weekends.

When you go to Seoul, don't forget credit card Visa or Master Card. You can withdraw cash from ATMs in shopping centers or metro stations. The only difficulties may arise with the display of information about the balance on the ATM screen, since many do not display data in English. Global ATM ATMs can also cause some inconvenience: despite the fact that they accept cards of almost all payment systems, they work from 08:00 to 22:00. HanNe 24-hour ATMs, which can be found at metro stations, bus terminals, hotels, and many shops, accept Master Card and Visa cards.

KRW and code 410. The name of the South Korean won comes from the union of hieroglyphs, which is pronounced as won (hu) and and in translation means the Won currency.

History of the South Korean currency

The history of the won dates back to 1950 after the secession of Korea from Japan and the creation of two new states on this territory: the Republic of Korea in the south and the Democratic People's Republic of Korea in the north. On the first banknotes of the won, a portrait image of the first president of the Republic of Korea, Lee Seung-man, who at that time was the current head of state, was applied. His image remained on won notes until April 1960. That is, until the very moment when he was overthrown during the "student revolution".

The Korean won of the period of the First Republic is distinguished by the presence of a significant amount of hieroglyphics on banknotes. To write words on banknotes of that time, they were mainly used Chinese characters. Over time, inscriptions in Korean began to appear on banknotes. At the same time, from time to time, texts in English could also be found on South Korean money.

South Korean coins

There are coins in circulation in denominations of one, five, ten, fifty and one hundred won. The first two are quite rare, so when making trading transactions, it is allowed to round the calculation to ten won.

On June 12, 1982, 500 won coins were put into circulation. There were two reasons for this decision. Firstly, high level inflation, and secondly, the rapid spread and growing popularity of vending machines. Six months later, in January 1983, a new series of coins saw the light: one, five, ten, fifty and one hundred won. These coins were made in the same style as the five hundred won coin, but retained the theme of the obverse and reverse of older copies. This move allowed the standardization of the South Korean monetary system.

South Korean banknotes

The Korean won is in circulation in denominations of one thousand, five thousand, ten thousand and fifty thousand. In addition to banknotes, bank checks in denominations of one hundred thousand won or more are used for transactions. It should be emphasized that when using such a check, on its reverse side it is required to indicate the holder's passport number, as well as the address and telephone number in the Republic of Korea.

regarding the won and its exchange rate

The monetary policy of the leadership of South Korea led to the need to switch to a floating rate of the Korean won. The start of these aspirations was given on February 27, 1980, and the final transition to the free value of the South Korean currency took place on December 24, 1997. On that day, an agreement was reached between the leadership of the Republic of Korea and the International Monetary Fund. However, some time later, Asia experienced a major financial crisis which nearly doubled the Korean won.

The Bank of Korea is in charge of issuing currency in the republic. It is curious that one of the main problems of this main financial regulator of the country is the high level of counterfeiting. So, in 2006, this misfortune at all acquired alarming proportions. For example, 50% of the number of banknotes in denominations of five thousand won (the exchange rate of the Korean won to the dollar was then about 1000 to 1) were counterfeit.

This state of affairs forced the government of the state to put into circulation new series paper money. First of all, it was the most “popular” five thousand won banknote that was changed. In 2007, additionally were launched in money turnover denominations of one thousand won and ten thousand won. These new banknotes have ten protective mechanisms. The updated Korean won contains the same anti-counterfeiting features as some other British pound sterling, and

On June 23, 2009, the Bank of Korea introduced a fifty thousand won note into circulation. On the obverse of the bill, you can see the image of the famous Korean artist of the 16th century, Sin Saimdang, who was also the mother of the Confucian scholar Yi Yi, who became known under the false name Yulgok. The fifty thousand won banknote is the first South Korean banknote to feature the image of a woman. In addition, a sociological survey was conducted among the population of the country to select the person who will be awarded such an honor.

At the moment, the Republic of Korea has the 11th GDP in the world in nominal terms. In recent years, the national currency of this country is quite stable. The exchange rate of the Korean won against the ruble is 19.46 to 1.