"Learning Korean Currency through Squid Game: A Must-Have Travel Guide."

Are you planning a trip to the vibrant cities of Seoul or Busan? Or perhaps you’re just fascinated by Korean culture? Either way, understanding South Korean Currency, the Korean Won (KRW), is essential. This guide will provide you with everything you need to know about Korean money, from basic vocabulary to practical tips, and even some interesting cultural insights inspired by the hit drama “Squid Game.“

The Basics of Korean Currency

Currency Name: The official currency of South Korea is the South Korean Won, abbreviated as KRW and represented by the symbol ₩.

Korean Name: In Korean, it’s called 대한민국 원 (daehanminguk won).

Historical Context: The name “won” originated from a Hanja character similar to the Chinese Yuan and Japanese Yen, reflecting historical linguistic connections in East Asia.

Current Exchange Rate

As of March 2025, the exchange rate is approximately 1 USD = ₩1,467.46 4. Exchange rates fluctuate, so it’s always best to check current rates before your trip.

Essential Money Vocabulary in Korean

Before we dive deeper, let’s learn some basic vocabulary:

Money: 돈 (don)

Korean Won: 원 (won)

Currency: 통화 (tong-hwa)

Bank: 은행 (eun-haeng)

Exchange rate: 환율 (hwan-yul)

Practical Example

“I need to withdraw some money from the ATM before we go shopping.”

“우리가 쇼핑을 가기 전에 ATM에서 돈을 인출해야 해요.” (uriga shoppingeul gagi jeone ATM-eseo doneul inchulhaeya haeyo.)

Korean Won Denominations

South Korea uses both banknotes and coins. Here’s a breakdown:

Banknotes:

Coins:

₩100: Features Admiral Yi Sun-sin, a celebrated naval hero.

₩50: Features a stalk of rice.

₩10: Features the Dabotap Pagoda (currently hard to find in circulation).

Practical Tips for Using Korean Currency

Cash is Still King: While credit cards are widely accepted in major cities, smaller shops and traditional markets often prefer cash.

ATMs: Look for “Global ATMs” that accept foreign cards, often found in convenience stores like 7-Eleven, CU, and GS25.

Small Denominations: It’s useful to have a mix of bills and coins, especially for transportation and street food.

Learn Korean Numbers: Knowing how to count in Korean will make transactions much smoother.

“Squid Game” and Korean Currency

The global hit drama “Squid Game” has brought attention to Korean currency in an unexpected way. The show’s premise revolves around a life-or-death competition for a grand prize of ₩45.6 billion (₩45,600,000,000), which is approximately $31 million USD at the current exchange rate. This astronomical sum has sparked curiosity about the value of the Korean won, leading many viewers worldwide to calculate the equivalent in their local currencies.

Cultural Insights Through Currency

Korean banknotes feature significant historical figures, offering a glimpse into the country’s rich cultural heritage. For instance, the ₩50,000 note features Shin Saimdang, an accomplished artist, writer, and calligraphist. She was also the mother of the scholar featured on the ₩5,000 note, Yulgok Yi I, highlighting the importance of education and family in Korean culture.

Practical Korean Phrases for Money Transactions

To help you navigate financial transactions in Korea, here are some useful phrases:

“How much is this?”

“이거 얼마예요?” (igeo eolmayeyo?)

“Can I pay by card?”

“카드로 결제할 수 있나요?” (kadeuro gyeoljehal su innayo?)

“Where’s the nearest ATM?”

“가장 가까운 ATM이 어디에 있나요?” (gajang gakkaun ATM-i eodie innayo?)

“I’d like to exchange some money.”

“환전하고 싶어요.” (hwanjeonhago sipeoyo.)

“Is there a service charge?”

“수수료가 있나요?” (susuryoga innayo?)

Conclusion

Understanding Korean currency is more than just knowing exchange rates. It’s a window into Korean culture, history, and daily life. Whether you’re planning a trip to South Korea or just expanding your global knowledge, familiarity with the won can enhance your appreciation of this fascinating country.