KRW

The South Korean Won (KRW) is the official currency of South Korea and has been the nation's monetary unit since 1948, following the country's independence. Issued and regulated by the Bank of Korea, the central bank of South Korea, the Won serves as the medium of exchange for all domestic transactions and is fundamental to South Korea's economy. The currency symbol is ₩, and it is subdivided into 100 jeon, though jeon are rarely used in modern transactions. South Korea's economy is one of the world's largest, with significant contributions from technology, automotive, semiconductors, and entertainment industries, making the Won an important currency in global financial markets. The exchange rate of the Won against major currencies like the US Dollar and Euro fluctuates based on economic indicators, interest rate differentials, trade balances, and broader macroeconomic conditions. As a freely convertible currency, the Won plays a crucial role in international trade and investment involving South Korean companies and assets, and its value reflects investor sentiment toward the South Korean economy and regional economic developments in East Asia.