South Korean won

The South Korean won, sometimes known as the Republic of Korea won (symbol: ₩; code: KRW; Korean: 대한민국 원), is the official currency of South Korea. The won is technically equal to 100 jeon, but the jeon is no longer used for everyday transactions and appears only in foreign exchange rates. The currency is issued by the Bank of Korea, based in the capital city of Seoul. The South Korean won was first issued in 1949, then was replaced by the South Korean hwan between 1953 and 1962, before the adoption of the current South Korean won in 1962.