South Korean won (KRW)

The South Korean won (KRW, symbol ₩) is the official currency of South Korea, issued by the Bank of Korea. Re-introduced in June 1962 to replace the hwan at a rate of 10 hwan to one won, it restored a name historically used for Korean silver coinage. The won is subdivided into 100 jeon, but jeon are no longer used for daily commercial transactions due to economic growth, leaving whole won amounts as the practical accounting standard.