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Related to Korean won: North Korean won


1. the standard monetary unit of North Korea, divided into 100 chon
2. the standard monetary unit of South Korea, divided into 100 chon
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.



the monetary unit of the Korean Democratic Peoples’ Republic. The won was introduced in December 1947 to replace the previously circulated yen of the Bank of Korea. It is divided into 100 chon. At the rate of exchange of the Gos-bank (State Bank) of the USSR (January 1971), 100 won = 74 rubles, 93 kopecks (1 ruble = 1.33 won).

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The bank can hedge the currency risk by borrowing in dollars and holding the proceeds in Korean won by purchasing local assets, or by entering into a hedging transaction of its own with another bank in Korea.
On the South Korean won, the ADB chief said it had substantially appreciated against the dollar over the last couple of years and what is happening now ''may be a kind of natural correction.''
Indeed, as the Chinese yuan, the South Korean won, the Malaysian ringgit, and others of these currencies floated up with the dollar's rally of that time, Europe and Japan found a measure of relief from the natural price advantages of Asian import competition.
The volume of orders received by South Korean shipbuilders in 1999 was the second highest after the record 12.75 million tons in 1997, reflecting a decline in the value of the South Korean won and lower production costs and the resulting drive by the South Korean firms to run their shipbuilding facilities at full capacity.
Although the Korean won and Thai baht have recently appreciated, these currencies are still significantly undervalued.
In its official release, the smartphone giant estimated its sales to be around 57 trillion Korean won, taking the profits to approximately 6.6 trillion Korean won, a decline of about 56 per cent year-on-year.
The pouch contained an Asiana Club Visa card, Shinsegae Duty Free card, 31,000 Korean won; 6,020 Thailand baht, US$2,056, and P20, or the equivalent of P120,000.
'Since January, the Indian rupee depreciated by 7.46 percent, Philippine peso by 7.42 percent, Korean won by 5.13 percent and Indonesian rupiah by 4.97 percent.
The movie based on the novel can be found here on USB memory cards, and these are spreading rapidly.' The daily rental for American novels and films is five times more than for North Korean novels and movies, which is about 1,000 North Korean won ($0.13.) .
Balmes said the fugitives have been wanted in South Korea for defrauding several victims by "hacking into someone's instant messenger account and thereby collecting sum of money amounting to 25,920,000 Korean Won."
The 2.86bn Korean won ($2.64m, [pounds sterling]1.9m) will come from the South's unification ministry budget.

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