안녕하세요! This post is about the South Korea's money! I'll show you the currency, coins, and bills that are currently used in Korea. To proceed with this lesson, it'll be good to know how to read numbers in Korean! Please click here if you want to learn Korean numbers!
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1. Korean Currency: Won
Korea uses a currency called 원[won]. The symbol of the South Korean won is ₩. The code is KRW. It is issued by the Bank of Korea, based in Seoul, the capital city of S. Korea.
Then, how much is currency worth compared to other countries? Let's compare 1,000 원. I'll show you the approximate. Currencies keep changing, so use this as just a reference.
1000won is about | 1 is about | |
The U.S. | 0.72 USD | 1USD=1,300won |
China | 5.28 CNY | 1CNY=189won |
Japan | 116 JPY | 1JPY=8won |
The U.K. | 0.57 GBP | 1GBP=1,747won |
Philippines | 42.32 PHP | 1PHP=23won |
Do you want to know how much 1,000 원 worth about? Well, in 2024, the BigMac set from McDonald's is 7,200 won. A can of Coke is about 2,000 won. To ride a subway in Seoul, it starts from 1,500 원.
2. Coins
Korean money consists of coins and bills. In modern Korea, there are four coins exist; 10 won, 50 won, 100 won, and 500 won. Even though people use fewer and fewer coins these days, it will be good to know!
₩ 10
Front | Back |
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[si-bwon] |
10 in Korean is 십. So, you can read 10원 as 십 원.
10 won coin depicts the 다보탑(Dabotop or Dabo pagoda). The picture is on the left. The picture is from GuHyeok Jeong of Pixabay.
It is a stone pagoda located at the Buddhist temple called Bulguksa(불국사). It's in the Gyeongju City(경주시). The pagoda is supposed to have been built in 751, the Shilla Dynasty. It is designated as National Treasure No. 20.
From it, you can see a long history of the Buddhist culture of Korea.
₩ 50
Front | Back |
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[oh-si-bwon] |
50 in Korean is 오십. You can read this coin as 오십 원. 50 won has an ear of rice(벼), representing the agricultural society of ancient Korea. Cooked rice(밥) is a still staple food in Korea. So, people also use 밥 to mean a meal or food.
₩ 100
Front | Back |
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[bae-gwon] |
100 in Korean is 백. So, ₩ 100 is 백 원. It is the most widely circulated coin in the Korean market.
The 100-won coin depicts the portrait of Yi Sun-Shin(이순신), a great admiral from the Joseon dynasty. He is famous for his victories against the Japanese navy during the Imjin War. He lived from 1545 to 1598.
₩ 500
Front | Back |
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[oh-bae-gwon] |
500 in Korean is 오백. So, ₩ 500 is called 오백 원. You can see a Red-crowned crane on the front. It is one of the migratory birds that lives in S. Korea.
3. Bills
There are four paper banknotes in Korean. They are 1,000won, 5,000won, 10,000won, and 50,000won. I'll show you each one.
₩ 1,000
Front | Back |
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[cheo-nwon] |
1,000 in Korean is 천. So, ₩ 1000 is called 천 원. Click the speaker icon to listen and repeat!
The front of the banknote depicts a portrait of Yi Hwang(이황). He was a civil servant and Confucian scholar from the mid-Joseon Dynasty. He lived from 1502 to 1571.
You can also see the plum flowers and the building of Sungkyunkwan(성균관). It was an academy under the government that was in charge of Confucian education. On the back is a drawing by Jeong Seon, a painter of the Joseon Dynasty.
₩ 5,000
Front | Back |
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[oh-cheo-nwon] |
5,000 in Korean is 오천. So, ₩5,000 is 오천 원.
The front of the 5,000 won bill depicts a portrait of Yi I(이이), a Joseon civil servant and Neo-Confucian scholar. He lived from 1536 to 1584.
The building next to him is one of the buildings of Ojukheon(오죽헌). Ojukheon is the house of his birth. The meaning of the Ojukheon is the place where there is much black bamboo. That is why you can also see the bamboo pictures as well.
At the back, you can see the picture of Shin Saimdang. She was the mother of Yi I. You'll see more details about her on a 50,000 bill. (Yes, the mother and son are in Korean money!)
₩10,000
Front | Back |
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[ma-nwon] |
10,000 in Korean is 만. You read ₩10,000 as 만 원.
On the front of the bill, you can see the very important person! He is the great King Se-jong(세종대왕). He is the one who invented Hangeul, the Korean alphabet.
If it were not for him, we probably still use Chinese letters to write Korean. Chinese letters are ideograms. Each letter represents a certain meaning regardless of the sound of the language. So, there are tons of letters to memorize! Thanks to him, we only need to memorize 24 letters to write Korean! If you want to know more about it, please click here.
He also left behind many achievements in various fields, including science and technology, art, culture, and national defense. That is why he is called the Great King (대왕) to show respect to him. He lived from 1397 to 1450 and ruled the Joseon from 1418 to 1450.
Next to him, you can also see the picture of the Sun, Moon, and Five Peaks(일월오봉도). It was mainly painted as a folding screen and placed behind the throne during the Joseon Dynasty.
On the back, you can see the picture of the armillary sphere(혼천의). It is used to observe the sky. It has been used in astronomical observations to predict climate.
₩50,000
Front | Back |
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[oh-ma-nwon] |
50,000 is 오만. So, ₩50,000 is called 오만 원.
This banknote was issued in 2009. So, it was not that long time ago. Before this bill, 만원(10,000won bill) was the highest value.
You can see the picture of Shin Saimdaing. Do you remember she was mentioned in the 5,000won bill? She was the mother of the scholar Yi I. She was known as the symbol of the good wife and wise mother(현모양처).
But not only that! She was also an artist, writer, calligraphist, poet, and Confucianist. She was a very talented person! She lived from 1504 to 1551, during the Joseon Dynasty. By the way, she was also born in the same house that you saw at 5,000 won bill!
Next to her, you can see her painting. On the back, there are other paintings from other painters of the Joseon Dynasty as well.
Wrap-up
In this post, you read about Korean currency won and various coins and bills. If you are planning to go to Korea, it would be good to know this material! If you are curious more Korean culture lessons, please click the button below!