DEFINITION of 'KRW'

The currency abbreviation or currency symbol for the Korean won (KRW), the former currency for Korea. The won was made up of 100 chon and is often presented with the symbol (__). No banknotes denominated in won were ever issued.

BREAKING DOWN 'KRW'

The won was first seen in 1902, replacing the yang. It appeared in the form of coins of various denominations which were equal to the Japanese yen, which along with the Korean yen replaced this currency in 1910.

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