The currency used in South Korea is the South Korean won (KRW).
The South Korean won is the official currency of South Korea. It is denoted by the symbol "₩" and is subdivided into 100 jeon. The won was first introduced in 1902 and has undergone several revaluations. Banknotes come in denominations of 1,000, 5,000, 10,000, and 50,000 won, while coins are available in denominations of 10, 50, 100, and 500 won. The Bank of Korea is responsible for issuing and regulating the currency. The won is widely accepted in South Korea, and it is also accepted in some areas of North Korea.