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KR₩
The South Korean won (symbol: ₩; code: KRW; ) is the official currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and it appears only in foreign exchange rates. The currency is issued by the Bank of Korea, based in the capital city of Seoul. Etymology The old "won" was a cognate of the Chinese yuan, which was derived from the Spanish-American silver dollar. It is derived from the hanja (, ), meaning "round", which describes the shape of the silver dollar. The won was subdivided into 100 (), itself a cognate of the East Asian unit of weight mace and synonymous with money in general. The current won (1962 to present) is written in hangul only and does not officially have any hanja associated with it. First South Korean won History The Korean won, Chinese yuan and Japanese yen were all derived from the Spanish-American silver dollar, a coin widely used for international trade bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seoul
Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities by GDP, sixth largest metropolitan economy in 2022, trailing behind New York metropolitan area, New York, Greater Tokyo Area, Tokyo, Greater Los Angeles, Los Angeles, Paris metropolitan area, Paris, and London metropolitan area, London, and hosts more than half of South Korea's population. Although Seoul's population peaked at over 10 million, it has gradually decreased since 2014, standing at about 9.6 million residents as of 2024. Seoul is the seat of the Government of South Korea, South Korean government. Seoul's history traces back to 18 BC when it was founded by the people of Baekje, one of the Three Kingdoms of Korea. During the Joseon dynasty, Seoul was officially designated as the capital, surrounded by the Fortress Wall of Seoul. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Won Sign
The won sign , is a currency symbol. It represents the South Korean won, the North Korean won and, unofficially, the old Korean won. Appearance Its appearance is "W" (the first letter of "Won") with a horizontal strike going through the center. Some fonts display the won sign with two horizontal lines, and others with only one horizontal line. Both forms are used when handwritten. Encoding The Unicode code point is : this is valid for either appearance. Additionally, there is a fullwidth character at . Microsoft Windows In Microsoft Windows code page 949, the position is used for the won sign (in Code page 850 (latin script), this codepoint is used for backslash). In Korean versions of Windows, many fonts (including system fonts) display the backslash character as the won sign. This also applies to the directory separator character (for example, ) and the escape character (₩n). The same issue (of dual use of the 0x5C code point) is seen with the yen sign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korea Under Japanese Rule
From 1910 to 1945, Korea was ruled by the Empire of Japan under the name Chōsen (), the Japanese reading of "Joseon". Japan first took Korea into its sphere of influence during the late 1800s. Both Korea (Joseon) and Japan had been under policies of isolationism, with Joseon being a Tributary system of China, tributary state of Qing China. However, in 1854, Perry Expedition, Japan was forcibly opened by the United States. It then rapidly modernized under the Meiji Restoration, while Joseon continued to resist foreign attempts to open it up. Japan eventually succeeded in opening Joseon with the unequal Japan–Korea Treaty of 1876. Afterwards, Japan embarked on a decades-long process of defeating its local rivals, securing alliances with Western powers, and asserting its influence in Korea. Japan Assassination of Empress Myeongseong, assassinated the defiant Korean queen and intervened in the Donghak Peasant Revolution.Donald Keene, ''Emperor of Japan: Meiji and his World, 1852 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Language
English is a West Germanic language that developed in early medieval England and has since become a English as a lingua franca, global lingua franca. The namesake of the language is the Angles (tribe), Angles, one of the Germanic peoples that Anglo-Saxon settlement of Britain, migrated to Britain after its End of Roman rule in Britain, Roman occupiers left. English is the list of languages by total number of speakers, most spoken language in the world, primarily due to the global influences of the former British Empire (succeeded by the Commonwealth of Nations) and the United States. English is the list of languages by number of native speakers, third-most spoken native language, after Mandarin Chinese and Spanish language, Spanish; it is also the most widely learned second language in the world, with more second-language speakers than native speakers. English is either the official language or one of the official languages in list of countries and territories where English ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Joseon
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Korean Hwan
The hwan () was the currency of South Korea between February 15, 1953, and June 9, 1962. It succeeded the South Korean won (1945–1953), first South Korean won and preceded the South Korean won, second South Korean won. History Due to the devaluation of the South Korean won (1945–1953), first South Korean won (from 15 won to the U.S. dollar in 1945 to 6000 won to the dollar in 1953), the hwan was introduced in 1953 at the rate of 1 hwan = 100 won. The hwan was nominally subdivided into 100 ''jeon'' but the lowest denomination issued was 1 hwan. The hwan also suffered from inflation and a series of devaluations occurred. In 1962, the South Korean won, second South Korean won was reintroduced at a rate of 1 won = 10 hwan, after which inflation finally slowed down. Coins In 1959, coins were introduced in denominations of 10, 50 and 100 hwan. They were minted by the Philadelphia Mint. The 10 and 50 hwan coins continued to circulate until March 22, 1975, accepted as if it wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korean War
The Korean War (25 June 1950 – 27 July 1953) was an armed conflict on the Korean Peninsula fought between North Korea (Democratic People's Republic of Korea; DPRK) and South Korea (Republic of Korea; ROK) and their allies. North Korea was supported by China and the Soviet Union, while South Korea was supported by the United Nations Command (UNC) led by the United States. The conflict was one of the first major proxy wars of the Cold War. Fighting ended in 1953 with an armistice but no peace treaty, leading to the ongoing Korean conflict. After the end of World War II in 1945, Korea, which had been a Korea under Japanese rule, Japanese colony for 35 years, was Division of Korea, divided by the Soviet Union and the United States into two occupation zones at the 38th parallel north, 38th parallel, with plans for a future independent state. Due to political disagreements and influence from their backers, the zones formed their governments in 1948. North Korea was led by Kim Il S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaluation
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a '' revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to other major cur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Exchange-rate System
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold or silver. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Korean Won
The Korean People's won, more commonly known as the North Korean won (currency symbol, symbol: ₩; ISO 4217, code: KPW; ) and sometimes known as the Democratic People's Republic of Korea won (), is the official currency of North Korea. It is subdivided into 100 ''chon''. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital city of Pyongyang. Etymology ''Won'', like Japanese yen, is borrowed from Chinese yuan, written Hanja (), which means "round shape". The won is subdivided into 100 chon (). History 1947–2009 After the division of Korea, North Korea continued using the Korean yen for two years, until the Central Bank of the Democratic People's Republic of Korea was established on 6 December 1947 and the first North Korean won was issued. In February 1959, the second North Korean won was introduced, equal to 100 old won. From 1978 on, the Government of North Korea, North Korean government ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Korean Won (1945)
The South Korean won (symbol: ₩; code: KRW; ) is the official currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and it appears only in foreign exchange rates. The currency is issued by the Bank of Korea, based in the capital city of Seoul. Etymology The old "won" was a cognate of the Chinese yuan, which was derived from the Spanish-American silver dollar. It is derived from the hanja (, ), meaning "round", which describes the shape of the silver dollar. The won was subdivided into 100 (), itself a cognate of the East Asian unit of weight mace and synonymous with money in general. The current won (1962 to present) is written in hangul only and does not officially have any hanja associated with it. First South Korean won History The Korean won, Chinese yuan and Japanese yen were all derived from the Spanish-American silver dollar, a coin widely used for international trade betwe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Korea
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korea, Korean Peninsula and borders China and Russia to the north at the Yalu River, Yalu (Amnok) and Tumen River, Tumen rivers, and South Korea to the south at the Korean Demilitarized Zone, Korean Demilitarized Zone (DMZ). The country's western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan. North Korea, like South Korea, claims to be the sole legitimate government of the entire peninsula and List of islands of North Korea, adjacent islands. Pyongyang is the capital and largest city. The Korean Peninsula was first inhabited as early as the Lower Paleolithic period. Its Gojoseon, first kingdom was noted in Chinese records in the early 7th century BCE. Following the unification of the Three Kingdoms of Korea into Unified Silla, Silla and Balhae in the late 7th century, Korea was ruled by the G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
