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The South Korea Currency is known by the name of Won. It has been introduced in the year 1962 as the currency of South Korea. The South Korea Currency Won has been derived by amalgamating the Chinese currency Yuan and the Japanese currency Yen. The meaning of the word Won is something that is of round shape. In other terms it also means money. The South Korean Won is further divided into hundred jeon, that is another financial term in South Korea. The South Korea Currency has the symbol of the South Korean national flower Rose of Sharon imprinted on the notes.
Earlier during the Japanese reign in South Korea the South Korea Currency was as same as the Japanese currency that is Yen. Afterwards South Korea chose its own currency which was won. Earlier all the monetary transactions were dealt by the Japanese bank the Bank of Joseon. Later on the national bank of South Korea was built and was named the Bank of Korea. This bank started dealing with all the financial issues of South Korea.
The highest unit of the South Korea Currency at present is the 10,000 Won note that has the same value as eleven American Dollars. The big monetary transactions in South Korea are made by cheques issued by the central bank of South Korea. The Ministry of Finance and Economy of South Korea is planning to introduce Won note of 100,000 in the next few years. There are also Won coins that are made up of Brass and are still in use. But some of the Won coins have been replaced by the new Won notes in south Korea that have the same financial value as the coins.
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