South Korea - currency, industry and economic situation of the country

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2018-06-03 04:00:28

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Won – is the monetary unit that emits South Korea. Currency The state of progressive Asia-Pacific region is a major Korean currencyMedium of exchange value throughout the global economic system. The Koreans seize more and more markets with its quality high-tech products. This state with a market system of economic relations, exports a huge number of goods and services, thus allowing their own people to live at a high social level. The reason for this state of Affairs in the country, of course, with unequivocal success in various fields of industry, economy, culture and science of the Republic of Korea, the currency of Which is one of the main ways to the well-being of this beautiful and long-suffering, and most importantly, independent state. After all, how can we follow to well-being without a well thought out and organized system of exchange values? However, the state though is Asian “tiger”, demonstrating the economic miracles but still he has a certain number of unresolved social problems. Because the lack of pensions, corruption, unresolved conflict with its Northern neighbor – it's also South Korea. Currency, course Which is not estimated, perfectly reflects the problems of the state that are not represented by the public international community. Won at the time experienced several devaluations, resulting in active use in the population are used even thousands of the banknote. Thus, to date, the Korean currency against the ruble is correlated by Central banks as 33,23 KRW per 1 CHF.

The value of the monetary units of the Korean "tiger"South Korea currency rate

The Won as the currency weak purchasing power has a considerable amount of zeros on those monetary units that can be redeemed in the country to any significant goods or services. To date, banknotes in denominations of 50 000, 10 000, 5000 and 1000, and coins in 500, 100, 50, 10, 5 and 1 won – the financial capacity of exchange values, which is issued by South Korea. Currency Of the country is denoted on «Forex»-the market of banking code KRW. Also, it has code International organization for standardization ISO 4217.

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The History of Korean money

The history of the war is quite small. Operation on introduction of the modern money of South Korea was launched by the government of the country in the not too distant 1962. It lasted no less - until 1975, when from circulation in the country was Korean currency against the rubleTaken last hwan (the previous means of exchange of values in the region). Since that time, the South Korean money more than once been the devaluation and depreciation. In 1980, the won started the transition to a free floating exchange rate, and in 1997 it was completed and fixed by agreement with the International monetary Fund. Today in our country, even children know about this little Republic, which produces various gadgets, air conditioners and cars, under the name of South Korea. Currency at least not yet familiar to Russian citizens, but a lot of people would agree that, given the dynamics of development of the Republic to the conquest of a large number of high-tech profitable markets possible future growth in the influence of the won on the global financial sector in the near future. Let's wait and see.

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