If any person present in the world goes to another country with the intention of visiting, studying or doing a job, then the question regarding currency definitely comes in his mind. This happens because the value of currency of every country is different from each other. The value of Indian currency is higher in South Korea. Both countries are strong economies in Asia, but there is a big difference in the value of their currencies.

According to the report of Vice.com, the value of one Indian Rupee in South Korea is equal to 16 South Korean Won. According to this, if someone has one lakh rupees in India, then its value in South Korea is around 16 lakh won.

What is the South Korean Won and who issues it?

The official currency of South Korea is called South Korean Won. Internationally it is known as KRW. This currency is issued by the country’s central bank, Bank of Korea, whose headquarters is located in Seoul. In South Korea, coins of 1, 5, 10, 50, 100 and 500 won and notes of 1,000, 5,000, 10,000 and 50,000 won are in circulation. The won used today in South Korea was officially introduced in 1962. Won was first adopted when Korea became independent from Japanese rule after World War II.

What notes and coins are in circulation in South Korea?

Notes and coins of different denominations are in circulation for cash transactions in South Korea. Coins are used for small expenses, while larger transactions are usually done with bank notes. Digital payment has also become increasingly popular there, but VON is the base currency of every transaction.

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