Definition

Noun: * The basic unit of money in North Korea: The "north korean won" is the official currency of the Democratic People's Republic of Korea (North Korea). It is subdivided into 100 chon.

Usage Examples

• Noun:
  • The price for the souvenir was 5,000 north korean won.
  • Exchanging foreign currency for the north korean won is strictly controlled by the state.
  • He collected a banknote of the north korean won as part of his currency collection.

Advanced Usage

• The term is typically used in financial, economic, or geopolitical contexts discussing North Korea. It is often preceded by an amount (e.g., ).
• Due to the country's isolated economy, the official exchange rate for the north korean won differs significantly from its market value on the informal (black) market.

Variants and Related Words

• Won (KPW): The standard three-letter currency code (ISO 4217) for the North Korean won. Often used in formal financial contexts.
  • The official currency code is KPW.
• Chon: The subunit of the won, representing one hundredth of a won. (Note: Due to inflation, are virtually obsolete in practice).

Synonyms

• North Korean currency: A more general descriptive term.
• KPW: The official abbreviation.

Notes on Different Meanings

• This term refers specifically to the currency of North Korea. It should not be confused with:
  • South Korean won (KRW): The currency of the Republic of Korea (South Korea), which is a separate and freely traded currency.
  • Won (as a verb or other noun): The English word "won" (past tense of "win") is homographic but unrelated.

Noun

1. the basic unit of money in North Korea