KOREA - (South Korea, Republic of Korea)

(KRW) Currency News >>

CURRENCY:

Won - KRW, Symbol W

DENOMINATIONS:

NOTE: W10,000, 5,000 and 1,000.

COIN: W500, 100, 50 and 10.

US DOLLAR ACCEPTED?

N/A

CREDIT/DEBIT CARDS AND ATMS:

In larger cities, hotels and shops, most major credit cards are widely accepted. In rural areas or small businesses in towns, credit cards may not be accepted. Cards with Plus and Cirrus logos are those which have the easiest use in Korea.

CURRENCY EXCHANGE:

Currency exchange services are available at foreign exchange banks and money changers.

TRAVELLER'S CHEQUES:

These might be difficult to change in smaller towns. Best in US dollars.

BANKING HOURS:

Mon-Fri 0900-1700

CURRENCY RESTRICTIONS:

Import and export of local currency limited to maximum W500,000.

COUNTRY OVERVIEW:

Often referred to as just Korea, South Korea's full name is in fact the Republic of Korea. The capital of Korea is Seoul, which has the is the second largest population in the world. The history of Korea bears some of the oldest civilizations in the world. It is located in East Asia and the official language is Korean.

POPULATION:

Around 49 million.

ECONOMY:

The economy of Korea (South) is highly developed and has been described as the world's second fastest growing. The World Bank ranks Korea as a 'high-income' economy. According to one source, the education system in South Korea is such that it has the world's highest scientific literacy.