KRW information
About the South Korean Won (KRW)
What Is the South Korean Won (KRW)?
The South Korean Won (KRW) is the official currency of South Korea. It is symbolized by ₩ and is a decimalized currency, meaning it is divided into 100 subunits called jeon, although the jeon is no longer used in everyday transactions. The most commonly used denomination is 1 won. The international foreign exchange market designation for the South Korean Won is KRW. The South Korean Won is the sole legal tender in South Korea, and it is used for all transactions within the country.
The South Korean Won is issued by the Bank of Korea, which is the central bank of South Korea. The Bank of Korea is responsible for the design, production, and distribution of the nation's currency. Additionally, the actual minting of coins and printing of banknotes are carried out by the Korea Minting and Security Printing Corporation, a government-owned corporation that also handles the production of various government documents and securities.
What Is the History of KRW?
The won has been a part of Korea's monetary system for centuries, with the modern version dating back to 1902. During Japan's occupation from 1910 to 1945, the won was replaced by the Korean yen. After World War II, Korea was divided, leading to the creation of the South Korean won in 1949. Initially pegged to the US dollar, the won underwent several devaluations, especially during the Korean War. In 1962, the won was reintroduced after being replaced by the hwan between 1953 and 1962. The won was pegged to the US dollar until 1997 when it was allowed to float freely in the foreign exchange market.
Notes and Coins of KRW
Initially, coins ranged from ₩1 to ₩100, but inflation led to the withdrawal of the ₩1 and ₩5 coins in 1992. Currently, coins are minted in denominations of ₩10, ₩50, ₩100, and ₩500. The initial series of banknotes in 1962 included denominations up to ₩100, with a ₩500 note. Over time, higher denominations were introduced to keep pace with inflation, including ₩1000, ₩5000, ₩10,000, and later ₩50,000. To combat counterfeiting, modern banknotes feature up to 22 separate security features.
Why Does South Korean Won Have Many Zeroes?
The South Korean Won (KRW) features many zeros largely due to historical inflation, particularly during the Korean War in the 1950s, which devalued the currency and necessitated larger denominations. This trend was further reinforced by South Korea's rapid economic development and industrialization from the 1960s onwards. Cultural preferences for larger numerical values and the practicality of transactional efficiency also play a role. However, it's important to note that the number of zeros in the currency does not directly reflect its value, as currency worth is relative and influenced by various economic factors.
Do North and South Korea Use the Same Currency?
No, North and South Korea do not use the same currency. Although both countries use a currency called the "won," they are distinct and separate currencies issued by their respective governments.
● South Korean Won (KRW): The currency used in South Korea is the South Korean Won, symbolized as ₩. It is issued by the Bank of Korea, the central bank of South Korea.
● North Korean Won (KPW): North Korea uses the North Korean Won, also symbolized as ₩. It is issued by the Central Bank of the Democratic People's Republic of Korea, which is North Korea's central bank.
The two currencies are not interchangeable and have different values and characteristics in the international currency markets.
PAW to KRW conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | ₩0.{4}1376 | 0.0200% / 0.0320%VIP 7 | |
Gate.io | ₩0.{4}1376 | 0.1000% / 0.1000% | Yes |
How to buy PAWSWAP
Buy PAW (or USDT) for KRW (South Korean Won) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
---|---|---|---|---|
F FLASH SALE 1 33 trades|Completion rate 97.00% | 0.979 USD | Amount920.27 USDT Limit10 - 900 USD | ||
n ninos.finance 340 trades|Completion rate 100.00% | 0.999 USD | Amount50 USDT Limit10 - 25 USD | ||
O OTEDOLA 70 trades|Completion rate 100.00% | 0.999 USD | Amount150 USDT Limit10 - 149.85 USD | ||
金 金边安欣币行 379 trades|Completion rate 100.00% | 1.01 USD | Amount1424.59 USDT Limit10 - 700 USD | ||
P Ponreay_FX 161 trades|Completion rate 99.00% | 1.01 USD | Amount153.75 USDT Limit10 - 195.283 USD |
Sell PAW (or USDT) for KRW (South Korean Won) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
---|---|---|---|---|
S Suarman Trades 20 trades|Completion rate 95.00% | 1.2 USD | Amount40000 USDT Limit1200 - 46000 USD | ||
R Russiad_BC 25 trades|Completion rate 96.00% | 1.199 USD | Amount3685.83 USDT Limit10 - 4000 USD | ||
c cR7_trader 2 trades|Completion rate 100.00% | 1.123 USD | Amount4788.74 USDT Limit100 - 5000 USD | ||
R Recharge 41 trades|Completion rate 98.00% | 1.123 USD | Amount1463 USDT Limit10 - 1007 USD | ||
B BGUSER-VBXPGM6X 50 trades|Completion rate 93.00% | 1.122 USD | Amount99027.94 USDT Limit10 - 50000 USD |
What factors influence the conversion rate of PAWSWAP to South Korean Won?
PAWSWAP to South Korean Won is falling this week.Conversion tables
The exchange rate of PAWSWAP is increasing.PAW to KRW
KRW to PAW
Today vs. 24 hours ago
Amount | 11:00 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 PAW | $0.{8}7611 | $0.{8}8241 | -8.07% |
1 PAW | $0.{7}1522 | $0.{7}1648 | -8.07% |
5 PAW | $0.{7}7611 | $0.{7}8241 | -8.07% |
10 PAW | $0.{6}1522 | $0.{6}1648 | -8.07% |
50 PAW | $0.{6}7611 | $0.{6}8241 | -8.07% |
100 PAW | $0.{5}1522 | $0.{5}1648 | -8.07% |
500 PAW | $0.{5}7611 | $0.{5}8241 | -8.07% |
1000 PAW | $0.{4}1522 | $0.{4}1648 | -8.07% |
Today vs. 1 month ago
Amount | 11:00 am today | 1 month ago | 1M change |
---|---|---|---|
0.5 PAW | $0.{8}7611 | $0.{8}7416 | +2.77% |
1 PAW | $0.{7}1522 | $0.{7}1483 | +2.77% |
5 PAW | $0.{7}7611 | $0.{7}7416 | +2.77% |
10 PAW | $0.{6}1522 | $0.{6}1483 | +2.77% |
50 PAW | $0.{6}7611 | $0.{6}7416 | +2.77% |
100 PAW | $0.{5}1522 | $0.{5}1483 | +2.77% |
500 PAW | $0.{5}7611 | $0.{5}7416 | +2.77% |
1000 PAW | $0.{4}1522 | $0.{4}1483 | +2.77% |
Today vs. 1 year ago
Amount | 11:00 am today | 1 year ago | 1Y change |
---|---|---|---|
0.5 PAW | $0.{8}7611 | $0.{8}6429 | +19.68% |
1 PAW | $0.{7}1522 | $0.{7}1286 | +19.68% |
5 PAW | $0.{7}7611 | $0.{7}6429 | +19.68% |
10 PAW | $0.{6}1522 | $0.{6}1286 | +19.68% |
50 PAW | $0.{6}7611 | $0.{6}6429 | +19.68% |
100 PAW | $0.{5}1522 | $0.{5}1286 | +19.68% |
500 PAW | $0.{5}7611 | $0.{5}6429 | +19.68% |
1000 PAW | $0.{4}1522 | $0.{4}1286 | +19.68% |
PAWSWAP price prediction
What will the price of PAW be in 2025?
What will the price of PAW be in 2030?
Other crypto price predictions
Convert popular cryptocurrencies
Bitget Earn
APR
Purchase other cryptocurrencies with similar market cap
Popular PAWSWAP conversions
Popular cryptocurrencies to KRW
Discover more cryptocurrencies
Latest coin listings on Bitget
FAQ
Buy PAWSWAP for 1 KRW
A welcome pack worth 1000 USDT for new Bitgetters!