What are Korean bills (banknotes)?

This post will cover Korean bills (banknotes) and their amounts. The official monetary unit in South Korea is 원 (won), and this ₩ symbol represents 원. For example, you can either write down the amount as 삼천 원 (three thousand won) in words or ₩3,000 with the symbol. Let’s test your knowledge on Korean bills, first.

How many Korean won bills are there?

There are four different Korean won bills issued by the Bank of Korea and used in South Korea. They are 50,000 won, 10,000 won, 5,000 won, and 1,000 won. The bills get larger as they go up. The 5,000 won bill is slightly larger than the 1,000 won bill, and the 10,000 won bill is somewhat larger than the 5,000 won bill.

What is the currency of Korea (South)?

The South Korean Won is the currency of Korea (South). Our currency rankings show that the most popular South Korean Won exchange rate is the KRW to USD rate. The currency code for Won is KRW, and the currency symbol is ₩. Below, you'll find South Korean Won rates and a currency converter.

Why is Korean money called 'won'?

I need to withdraw some money from the ATM before we go shopping. The official name for Korean money is “Won.” This is the name used for both South Korean and North Korea. This became the official currency for both countries after being divided into two. The name “won” originated from a Hanja character similar to the Chinese Yuan and Japanese Yen.