The South Korean won (KRW) is the official currency of South Korea. It is issued and regulated by the Bank of Korea. The won is subdivided into 100 jeon, although the jeon is no longer used in everyday transactions. As of [insert date], 1,000 won is equivalent to approximately [insert amount] US dollars.
The won has been in circulation since 1945, when it replaced the Japanese yen as the currency of South Korea. The won has undergone several redenominations over the years, with the most recent one occurring in 1962. The won has been relatively stable against the US dollar in recent years, although it has experienced some volatility in recent months due to the global economic slowdown.
