The Catalog Updated

Official country name: Republic of Korea

The Korean Won is the official currency of South Korea. South Korea is a sovereign state in east Asia, located on the southern portion of the Korean Peninsula. The capital and largest city is Seoul, which has a population of over 10 million people.

1 Won = 100 Chon ; ISO code = KRW 410

20th October 2020, 1 USD = 1,174.45 won; 1 Euro = 1,366.06 won

Current banknotes

  • 1000 won
  • 5000 won
  • 10000 won
  • 50000 won

     

1 000 Won (US$0.85; €0.73) P-54; B-250 Color: Blue, purple, green Dimensions: 136 x 68 mm

Front: Confucian scholar Toegye Yi Hwang wearing hanbok, traditional Korean dress.
Back: Gaesang junggeodo watercolor painting of landscape with mountains, trees, water, and boat; t’aeguk.
Security thread: Windowed.
Printer: Korea Minting & Security Printing Corporation.
Watermark: Toegye Yi Hwang and electrotype 1000.
Date: ND (2007) Intro: 22.01.2007

     

5 000 Won (US$4.26; €3.66) P-55; B-251 Color: Red and yellow Dimensions: 142 x 68 mm

Front: Confucian scholar Yulgok Yi I wearing hanbok, traditional Korean dress.
Back: Swallowtail butterly; watermelons; cockscomb lowers; katydid cricket; t’aeguk.
Security thread: Solid with printed 한국은행 BANK OF KOREA 5000.
Printer: Korea Minting & Security Printing Corporation.
Watermark: Yulgok Yi I and electrotype 5000.
Date: ND (2006) Intro: 02.01.2006

     

10 000 Won (US$8.51; €7.32) P-56; B-252 Color: Green and blue Dimensions: 148 x 68 mm

Front: King Sejong the Great wearing hanbok, traditional Korean dress.
Back: Celestial. globe; star charts; modern telescope; t’aeguk.
Security thread: Solid with printed 한국은행 BANK OF KOREA 10000.
Printer: Korea Minting & Security Printing Corporation.
Watermark: King Sejong the Great and electrotype 10000.
Date: ND (2007) Intro: 22.01.2007

     

50 000 Won (US$42.57; €36.60) P-57; B-253 Color: Yellow and green Dimensions: 154 x 68 mm

Front: Painter and author Shin Saim-dang wearing hanbok, Korean dress.
Back: Poongjukdo painting of bamboo tree
Security thread: Holographic stripe with demetalized BANK OF KOREA 50000. Windowed Motion security thread. Solid security thread with printed 한국은행 BANK OF KOREA 50000.
Printer: Korea Minting & Security Printing Corporation.
Watermark: Shin Saim-dang and electrotype 50000.
Date: ND (2009) Intro: 23.06.2009

Numismatic products

  • "Winter Olympic Games"

                                   

2 000 Won (US$1.70; €1.46) P-58; BNP201 Color: Gray Dimensions: 140 x 75 mm

Front: Athletes from seven winter sports events (biathlon, ice hockey, curling, speed skating, ski jumping, luge, and bobsled).
Back: Tiger and Pine Tree.
Security thread: MOTION® Switch micro-optics. 3-mm windowed with demetalized ‘ㅍ’ and ‘ㅊ’, the consonants of the Korean alphabet symbolizing Pyeongchang.
Printer: Korea Minting & Security Printing Corporation.
Watermark: ‘PyeongChang Olympic Stadium’, and Special Press and Soldering (SPAS) is applied to the part of the watermark image.
Date: ND (2017) Intro: 11.12.2017 Series AA
Issue: 2.3 million sets sold in folders for 8,000 won each. The bank also sold uncut pairs and sheets of 24 notes.

Note: Bank of Korea Wins HSP Asia Reward for Best New Commemorative Banknote

Article of Crane currency.

  • The Won has been in use for thousands of years. During the Colonial era, the Won was replaced at par by the Yen.
  • In 1945, after World War II, Korea was divided, which resulted in two different currencies for the South and North, both called Won. Both wons replaced the Yen at par.
  • The first South Korean Won was subdivided into 100 jeon. The Won was initially pegged to the US Dollar at a rate of 15 Won = 1 Dollar. A series of devaluations followed, the later ones due in part to the Korean War.
  • In 1946, the Bank of Joseon introduced 10-won and 100-won notes. These were followed in 1949 by 5-won and 1000-won notes.
  • In 1950, a new central bank, the Bank of Korea, was established and assumed the duties of the Bank of Joseon. Notes were introduced (some dated 1949) in denominations of 5, 10, and 50 jeon, as well as 100 and 1000 won. 500-won notes were introduced in 1952.
  • In 1953, a series of banknotes were issued. although it gave the names of English in Won, the first numbers were, in fact, Hwan.

Currency Import regulations:
Allowed.
Residents: Local currency (Korean Won-KRW) up to KRW 8,000,000.-. Foreign currencies: as from 20 years of age: USD 10,000.-.

Non-residents: Local currency (Korean Won-KRW) up to KRW 8,000,000.-. Foreign currencies: unlimited, if declared on arrival. Amounts exceeding the equivalent of USD 10,000.- (including traveler’s cheques) must be accompanied by a “Declaration of Foreign Currencies” form.
No declaration is required for diplomats, diplomatic missions, US military personnel and those coming on official business (duty).

Currency Export regulations:
Allowed: local currency (Korean Won-KRW) up to KRW 8,000,000.-; foreign currencies up to the amount declared on import.