What kinds of Korean money do you have, such as bills and coins?
If you are planning to travel to Korea, it is essential to be familiar with the Korean currency. The official currency of Korea is the Korean won (KRW). The Korean won is again divided into different face values, and each represents a different value. In this article, we will look at the various currency types in Korea and provide essential information to help you explore financial transactions during your trip to Korea.
The Korean won is the official currency of the Republic of Korea.
The won is divided into various denominations, including coins and banknotes, to accommodate various transaction demands. Here is an analysis of the different types of Korean money.
A 10-won coin is the smallest unit of Korean money.
It features images of a crane that symbolizes longevity and good luck in Korean culture. The coin is made of brass and has a smooth end. It is worth approximately $0.01 (W0.01).
A 50-won coin is another small unit of Korean currency.
It features stylized images of flowers that represent Korea’s traditional culture and beauty. The coin is made of brass and has a sharp tip. It is worth approximately 0.04.
A 100-won coin is the highest denomination of the coins.
It is in the shape of a phoenix, a mythical creature known for its elegance and elasticity. The coin is made of brass and has a smooth end. It is worth approximately $0.089.
The 1,000-won bill is the lowest banknote among the banknotes.
It contains the image of King Sejong, an important figure in Korean history. The banknote is usually blue and is worth about $0.89.
The 5,000-won bill is engraved with the image of Yi Hwang, a prominent Confucian scholar. The bill is mostly green and is worth approximately $4.45.
The 10,000 won note is the highest denomination of the note. The note is inscribed with the image of another prominent Confucian scholar, Li Features. The note is predominantly brown and valued at about $8.90.
It is important to understand the various types of Korean money for smooth financial transactions while traveling to Korea.
Credit cards are commonly used in major facilities, but it is recommended to carry cash when visiting small retailers or more distant areas. To make the most of your travel experience, you need to be familiar with the different types of Korean money and secure the necessary funds to enjoy the various attractions, delicious food, and vibrant culture that Korea offers.