South Korean Won · ₩ · Official currency of South Korea
The South Korean won (₩) took its current form in 1962, when a currency reform replaced the earlier hwan. The Bank of Korea handles all note issuance, and a major redesign between 2006–2009 (including the introduction of the ₩50,000 note) significantly strengthened anti-counterfeiting features.
Four banknotes circulate: ₩1,000, ₩5,000, ₩10,000, and ₩50,000, with the ₩50,000 note — the current highest denomination — first issued in 2009. Six coin denominations exist (₩1/5/10/50/100/500), though the ₩1 and ₩5 coins are effectively out of circulation.
Card and mobile payments (like Samsung Pay) are extremely widespread in Korea, so it's easy to get by without cash, though traditional markets and some small independent shops may still be cash-only. The ₩50,000 note is a high denomination, so small shops sometimes run short on change for it — it's more convenient to carry mostly ₩10,000 notes. Coins are increasingly seen as bulky and inconvenient, and a growing number of stores offer 'coinless' services that credit your change straight to a linked account instead.
You can view the real banknote designs on the Bank of Korea's official page.
See South Korean Won banknotes at today's exchange rate →