South Korean money is the won (μ), symbol β©. It comes in four banknote denominations β 1,000, 5,000, 10,000, and 50,000 won β and four commonly used coin denominations: 10, 50, 100, and 500 won. Each note features a major figure from Korean history, and the colors make them easy to tell apart at a glance.
The four banknotes
- 1,000 won (μ²μ) β blue. Features μ΄ν© (Yi Hwang), a 16th-century Confucian scholar also known by his pen name Toegye.
- 5,000 won (μ€μ²μ) β red-orange. Features μ΄μ΄ (Yi I), another 16th-century scholar, pen name Yulgok.
- 10,000 won (λ§μ) β green. Features μΈμ’
λμ (King Sejong the Great), the 15th-century king who commissioned Hangul.
- 50,000 won (μ€λ§μ) β yellow-gold. Features μ μ¬μλΉ (Shin Saimdang), the mother of Yi I and the only woman on current Korean currency.
The 50,000 won note is the largest in circulation today. There is no 100,000 won note β for big amounts, people use cashier's checks (μν, supyo).
The coins
- 10 won (μμ) β small bronze coin, shows Dabotap pagoda
- 50 won (μ€μμ) β silver, shows a rice plant
- 100 won (λ°±μ) β silver, shows Admiral μ΄μμ (Yi Sun-sin)
- 500 won (μ€λ°±μ) β larger silver, shows a crane
One and five won coins technically exist but are almost never used in daily life.
Quick rough conversions
Exchange rates shift, so treat this as a rule of thumb:
- 1,000 won is roughly the price of a bottle of water or a single ride on the subway base fare
- 10,000 won is roughly the price of a simple lunch at a casual Korean restaurant
- 50,000 won is roughly the price of a group dinner or a nice hanbok rental afternoon
Useful vocabulary
- λ (don) β money
- μ (won) β won (currency unit)
- μ§ν (jipye) β paper money / banknote
- λμ (dongjeon) β coin
- νκΈ (hyeongeum) β cash
A helpful sentence at a store:
νκΈμΌλ‘ λΌκ²μ.hyeongeumeuro naelgeyo. (hyeongeumeuro naelgeyo) β "I'll pay in cash."