Sunday, 2 June 2013

Korea Won

The currency of South Korea is call won () (signcodeKRW). A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates.

The old "won" was a cognate of the Chinese yuan and Japanese yen. It is derived from the Hanja (), itself a cognate of the Chinese character (yuan) which means "round shape." The won was subdivided into 100 jeon (Hangul: ; Hanja:  ), itself a cognate of the Chinese character (qian) which means "money" and also used as a unit of money in the ancient times.The current won (1962 to present) is written in hangul only.

 Meanwhile, the coin that presently circulates has 10 wons and 50 wons and 100 wons and 500 wons four types (10 wons are the smallest unit). Because the won exchange rate is not high valuable, therefore 1 won, 5 won coin since February, 2001 stopped circulating. On June 23, 2009 South Korean Central Bank Bank of Korea release currency value was 50,000 wons (about 40 US dollars) banknotes; this was the currency value biggest bill that this country issued until now.

"Won Exchange" -Exchange rate quality
Super Worst exchange rate: The department store or five-star hotel counter in South Korea hold US dollar exchange won
Worst exchange rate: The airport bank in South Korea, or outside KEB changes the bank, takes the Malaysia ringgit exchange won.
Bad exchange rate directly: In the airport bank or the local in bank native place, takes the Malaysian riggit exchange won directly

Therefore, the best way are firstly in the native place exchange the US dollar.  When arrives at the airport bank in South Korea with the US dollar, or local KEB trades a bank. If can exchange at money changer at town are the best.

Arrives in airport, when the bank nominal rate of the entry seeing is \"sale\" price (trades won with dollar); Before leaving South Korea, in the airport boarding lounge seeing the bank nominal rate, is \"buying up\" the price (with won buys back dollar) both price normal are different. Therefore encourages the travelers who end uselessly the won, brings back to the native place to trade to other travelers, and reduces difference between remitting out. 

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