South Korean won
0.0006548 (-0.98%)
Performance & facts
| South Korean won price: | 0.0006548 | #18 | |
| Price change 1 hour: | -0.01% | #12 | |
| Price change 24 hours: | -0.98% | #18 | |
| Price change 7 days: | -1.48% | #18 | |
| Price change 30 days: | -2.73% | #18 | |
| 24 hour range: | 0.0006588 - 0.0006658 | ||
| 52 week range: | 0.0006518 - 0.0007428 | ||
| ISO 4217 currency code: | KRW | ||
About South Korean won
South Korean won is official currency of South Korea. It is issued by Bank of Korea and used mostly within borders of South Korea.
South Korean won is subdivided into 100 jeon, however, there are no physical jeon coins as value of such would be too low to be of any practical use. Therefore, jeon is only used in digital world where small denominations have no extra handling or processing burden and there is potential use case in digital micropayments.
There have been efforts to re-denominate South Korean won at 1 to 1000 ratio in order to remove the extra "zeroes" from prices and bank notes. These, however, have not yet materialized as South Korean society is used to current pricing and there is no illusion of currency "weakness" or instability as South Korea continues to be highly developed economy with high value-added manufacturing and trade surplus.
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