Korea :

The Country


Cost of Living | Population | Economy | Currency | Geography | Mountains | Seoul | Busan/Pusan | Daegu | Itaewon

Economy


The name of the Korean currency is the "won" or 원 in Korean (this is not pronounced as "I won the game." But more like you are saying "on" with a "w" in front of it.) . The value of the Korean won has had some fluctuations over the past year and a half, as most currencies have had, due to the global economic crisis. The current exchange rate, as of April 2009, is sitting around 1,300 won to the dollar. There are expectations of it going down (which is a good thing) to 1,100 won to the dollar by the summer of 2009.

South Korea is the 11th economy which is quite an achievement coming from the struggles of surviving a world war and the Korean War.

It is a fully developed country with all the modern conveniences you would find in most cities.

Some of the main companies you may have heard about are Samsung and LG, which are the known for consumer electronics as well as major appliances, and Hyundai, which produces cars.

 


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