South Korean Won

Won is the monetary unit in South Korea. This has been used since thousands of years ago – in both the South and North when they were not yet separated. A won is equivalent to 100 Jeon. Jeon means money, and originally refers to gold and copper coins. The South Korean won has also manufactured Won bills to consolidate their monetary needs.

The Bank of Korea initially issued six faces of South Korean Won. The first set of issues was W1, W5 and W10. These contain Bank of Korea’s symbol and were all issued on June 10, 1962. W1 was colored pink, W5 was blue and W10 was green. The second set was the W50, W100 and W500 also issued in June 10, 1962. W50, the orange bill, has the image of Haegeumgang near Geoje. W100, the green bill, has the logo of the Independence Gate. And finally, W500, the grey bill, features Namdaemun.

The South Korean Won was initially rated at 15 won per 1 US dollar. As of February 2011, a won is equivalent to 0.00089 US dollar. That means that the country has managed to stay on top. South Korea being one of the Asian Tigers is fully developed and is a continuously growing country in Asia and in the world.

South Korea is known for its automobile industry which is one of the main contributors in the country’s market. They became the world’s largest automobile producers. They are also known as ship producers that produce oil super tankers and oil drilling platforms. South Korea has conquered the global shipbuilding market when they dominated the world’s shipbuilders.

Another business that helps in the economic growth of the country is the construction industry. The country has focused on domestic market to be able to cope with the same business. Later on, large construction companies from South Korea began to rise.

South Korea is really one of the world’s most progressive countries in the world. People focus on what they have and what they can do to improve and help the country in building a better future for their families. They focus on what they have rather than to what other countries have.

South Korean Won