# won

> official currency of the Republic of Korea

**Wikidata**: [Q202040](https://www.wikidata.org/wiki/Q202040)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/South_Korean_won)  
**Source**: https://4ort.xyz/entity/won

## Summary
The won (₩) is the official currency of the Republic of Korea, issued by the Bank of Korea. It replaced the Korean mun in 1945 and has been the sole legal tender since 1953, when the South Korean hwan was discontinued. The won is subdivided into 100 jeon, though coins smaller than 10 won are no longer in circulation.

## Key Facts
- **Official Name**: South Korean won (대한민국 원; Daehanminguk won).
- **ISO 4217 Code**: KRW.
- **Symbol**: ₩.
- **Issuer**: Bank of Korea (established 1950).
- **Inception**: December 6, 1947 (introduced as the South Korean won).
- **Predecessor**: Korean mun (1625–1892), South Korean hwan (1953–1962).
- **Subunit**: Jeon (100 jeon = 1 won).
- **Circulating Coins**: 10, 50, 100, 500 won; 1,000 won (banknote).
- **Banknotes**: 1,000, 5,000, 10,000, 50,000 won.
- **Country**: Republic of Korea (South Korea).
- **Wikidata ID**: Q4917.
- **Wikipedia Title**: South Korean won.
- **Sitelink Count**: 78 (language editions).
- **Aliases**: KRW, ￦, south korea won.
- **Manufacturer**: Korea Minting and Security Printing Corporation (established 1951).
- **Unicode Symbol**: ₩ (U+20A9).
- **Related Entities**: United States Army Military Government in Korea, Provisional Government of the Republic of Korea, First Republic of South Korea, Third Republic of South Korea, Fourth Republic of South Korea, Fifth Republic of South Korea.

## FAQs
**What is the history of the South Korean won?**
The won was introduced in 1947 as the currency of the Republic of Korea, replacing the Korean mun. It replaced the South Korean hwan in 1953 after the Korean War. The Bank of Korea has been the sole issuer since 1950.

**What are the denominations of South Korean currency?**
The won is subdivided into 100 jeon, though coins smaller than 10 won are no longer in circulation. Current coins include 10, 50, 100, and 500 won, while banknotes are issued in 1,000, 5,000, 10,000, and 50,000 won denominations.

**Who issues the South Korean won?**
The Bank of Korea, established in 1950, is the central bank responsible for issuing and regulating the won.

**What is the relationship between the won and other Korean currencies?**
The won replaced the Korean mun (1625–1892) and the South Korean hwan (1953–1962). It is the sole legal tender of the Republic of Korea.

**How is the won represented digitally?**
The won is represented by the Unicode character ₩ (U+20A9) and has an ISO 4217 code (KRW). It is also referenced in digital platforms like the Bank of Korea's website and financial databases.

## Why It Matters
The South Korean won is a foundational element of the Republic of Korea's economy, enabling trade, investment, and financial stability. Its issuance by the Bank of Korea ensures monetary policy control, while its subdivision into jeon maintains precision in transactions. The won's history reflects South Korea's post-war economic development and its role as a key currency in East Asia. Its digital representation and standardization through ISO codes facilitate global financial transactions. The won's evolution from the Korean mun to its current form underscores its role in national identity and economic resilience.

## Notable For
- **Standardization**: Possesses an ISO 4217 code (KRW) and Unicode symbol (₩), ensuring global recognition.
- **Historical Continuity**: Replaced the Korean mun (1625–1892) and the South Korean hwan (1953–1962), maintaining a legacy of over 300 years.
- **Digital Representation**: Has a dedicated Unicode character (₩) and is referenced in financial databases like the Bank of Korea.
- **Economic Stability**: Serves as the sole legal tender of the Republic of Korea, issued by the Bank of Korea since 1950.
- **Denominational Precision**: Subdivided into 100 jeon, though coins smaller than 10 won are no longer in circulation.
- **Manufacturing Authority**: Produced by the Korea Minting and Security Printing Corporation, established in 1951.
- **Related Entities**: Connected to historical governments like the First Republic of South Korea (1948–1960) and the Fifth Republic (1981–1988).

## Body

### History and Inception
The South Korean won was introduced on December 6, 1947, as the currency of the Republic of Korea, succeeding the Korean mun. It replaced the South Korean hwan in 1953 after the Korean War. The Bank of Korea, established in 1950, became the sole issuer. The won is subdivided into 100 jeon, though coins smaller than 10 won are no longer in circulation.

### Currency Structure
The won is issued in denominations of 10, 50, 100, and 500 won coins, and 1,000, 5,000, 10,000, and 50,000 won banknotes. The Bank of Korea regulates its issuance and circulation. The won is represented by the Unicode character ₩ (U+20A9) and has an ISO 4217 code (KRW).

### Issuance and Regulation
The Bank of Korea, established in 1950, is responsible for issuing and regulating the won. It serves as the central bank of the Republic of Korea. The Korea Minting and Security Printing Corporation, established in 1951, manufactures the currency.

### Digital and Global Representation
The won is represented digitally through its ISO 4217 code (KRW) and Unicode symbol (₩). It is referenced in financial databases and digital platforms. The Bank of Korea's website and financial systems use the won's standardized codes.

### Related Entities
The won is connected to historical governments of South Korea, including the First Republic (1948–1960), Third Republic (1963–1972), Fourth Republic (1972–1981), and Fifth Republic (1981–1988). It is also linked to the United States Army Military Government in Korea and the Provisional Government of the Republic of Korea.

### Technical Identifiers
- **ISO 3166-1**: Alpha-2: KR, Alpha-3: KOR, Numeric: 410.
- **ISNI**: 0000 0001 2308 8103.
- **VIAF**: 132441370.
- **GS1 Country Code**: 880.
- **International Calling Code**: +82.
- **Trunk Prefix**: 0.

### Preceded/Succeeded by
The won replaced the Korean mun (1625–1892) and the South Korean hwan (1953–1962). It is the sole legal tender of the Republic of Korea.

## References

1. Freebase Data Dumps. 2013
2. Quora