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.

RELATED TERMS
  1. North Korean Won (KPW)

    The North Korean won (KPW) is the national currency of North ...
  2. Currency Symbol

    A currency symbol is a graphical representation substituted for ...
  3. JPY (Japanese Yen)

    JPY is the currency abbreviation or the currency symbol for the ...
  4. JPY

    JPY is the currency abbreviation or the currency symbol for the ...
  5. Banknote

    A banknote is a negotiable promissory note, which a bank can ...
  6. Accounting Currency

    Accounting currency is the monetary unit used when recording ...
Related Articles
  1. Trading

    The Origins Of Common Currency Symbols

    Check out some of the world's most heavily traded currencies and their origins.
  2. Trading

    Can the South Korean Won Recoup From Recent Losses? (USD/KRW)

    South Korea and its currency have come under pressure. The won has lost over 4% against the dollar in the last week, fueled by concerns both domestic and abroad.
  3. Tech

    Why North Korea Hates The U.S.

    Here are the key reasons why North Korea hates the US and why their relations are so sour.
  4. Tech

    Top Fiat Currencies Used to Trade Bitcoin

    Here are the most popular fiat currencies that are currently used to trade bitcoin.
  5. Investing

    North Korean Sanctions Just Got Serious

    Seoul's decision to shut down the Kaesong Industrial Complex is a blow to the region's attempts at economic cooperation and peaceful coexistence.
  6. Trading

    6 top-traded currencies and why they're so popular

    Every currency has specific features that affect its underlying value and price movements in the forex market. Learn why these currencies are especially popular for trading.
  7. Insights

    North Korean Vs. South Korean Economies

    North Korea's economy is defined by its military ambitions and the humanitarian aid it receives, while South Korea is a world economic powerhouse.
  8. Investing

    Why North Korea & South Korea Are Separated

    Once united for centuries, today North and South Korea are perfect examples of opposite worlds, divided by politics and ideologies.
  9. Trading

    Popular Forex Currencies

    Learn about the most traded currencies and the strategies used to trade them.
RELATED FAQS
  1. Why Do Mutual Fund Tickers Have an 'X' at the End?

    Mutual fund tickers end with an 'X' to distinguish them from other types of securities. Read Answer >>
  2. How can I trade in cross currency pairs if my forex account is denominated in U.S. ...

    The forex market allows individuals to trade on nearly all of the currencies in the world. However, most of the trading is ... Read Answer >>
  3. What are key economic factors that can cause currency depreciation in a country?

    Read about the causes of currency devaluation, and find out how to differentiate between relative and absolute currency devaluation. Read Answer >>
Trading Center