The official currency of South Korea is the South Korean Won (symbol: ₩, currency code: KRW). It is issued by the Bank of Korea and used nationwide for all financial transactions. The won is subdivided into 100 jeon, though jeon are no longer used in everyday life. South Korean banknotes feature national figures such as King Sejong and Admiral Yi Sun-sin, reflecting Korea’s rich history. The won has undergone several changes since its introduction in 1945, stabilizing as a strong regional currency. Travelers frequently monitor the AUD to KRW exchange rate when visiting Seoul, Busan, or Jeju. With South Korea’s tech-savvy culture and cashless payments growing, the won remains essential for small vendors, markets, and local experiences.