Are you in need of money exchange to be able to travel, live, study or work in Korea? One of the things you need to do before you go is to carry some Korean money with you.

Lamchutaichinh will give you the most necessary information in converting currency rates and answer questions together. How much is 1 million Won in Vietnamese Dong?. Besides, the article will also suggest you reputable money changers

About the Korean Won

The Won is also known as the KRW, the symbol is ₩. This is the official currency in Korea, managed and controlled by the Central Bank of Korea.

The origin of the Won, the Chinese Yuan or the Japanese Yen is the same. At the time of the introduction of the Won, the Won was divided into 100 Jones. The unit of Joen has almost disappeared from everyday life, it is only mentioned when performing exchange rate transactions.

The Central Bank of Korea now recognizes two types of currency for issue: banknotes and coins, of which the Won with the highest denomination is the 50,000 Won bill. In 2016, South Korea stopped issuing banknotes with denominations of less than 1000 Won. From here on, the lowest denomination coin will be 1 Won and the lowest banknote will be 1,000 Won.

Denominations of money circulating in Korea today

Banknotes in circulation in Korea
Banknotes in circulation in Korea

Coin

  • 1 Won: made of aluminum, white color
  • 5 Won: made of copper-zinc alloy, yellow color
  • 10 Won: made from yellow copper-zinc alloy or pink copper-aluminum alloy.
  • 50 Won: made of copper-aluminum-nickel alloy, white color
  • 100 Won: made of copper-nickel alloy, white color
  • 500 Won: made of copper-nickel alloy, white color

Paper money

  • 1,000 Won: blue
  • 5,000 Won: red and yellow
  • 10,000 Won: green
  • 50,000 Won: orange

Meaning of Won . exchange rate

Similar to our Vietnamese currency or other bills, the images on Korean Won coins also carry great meanings.

Coin

  • The 1 Won coin has a picture of the Mugunghwa flower, which is also the national flower of Korea
  • The 5 Won coin has a picture of a turtle boat. This is the type of boat used in naval battles with the Japanese in the 16th century. The first armored boat was built by General Yi Sun Shin.
  • The 10 Won coin has a picture of Dabothap. This is the stupa of Bulguksa Temple. An iconic temple of Korean religious and cultural culture that has been recognized by UNESCO as a world cultural heritage.
  • The 50 won coin bears the image of a branch of rice, representing Korean agriculture. Despite becoming a technological powerhouse, Korea has not forgotten its agricultural tradition.
  • The 100 Won coin features the famous Korean general Yi Sun Shin. Similar to Ngo Quyen of Vietnam fighting the Southern Han army on the Bach Dang River, Yi Sun Shin also made a great victory in the naval battle with the Japanese soldiers.
  • The 500 Won coin is carved with a crane. The image of a crane in Korea symbolizes prosperity, development and longevity.

Paper money

  • The 1,000 Won note bears the image of scholar Toegye Yi Hwang, one of the scholars who made great contributions to the Confucius Institute.
  • The 5,000 Won note has a picture of another prominent Confucian scholar, Yulgok Yi I. He was famous for being an adept. He could read at the age of 3, at the age of 7 he understood all of Confucius and at the age of 13, he passed the top of the faculty. imperial literature. When he was 18, he decided to spend the next time following the Buddha, studying and serving the whole Buddhist life.
  • The 10,000 Won bill bears the image of the 4th king of the Joseon Dynasty, which is King Sejong. He is the person who has the greatest merit in creating today’s Korean writing system to replace Chinese characters.
  • The 50,000 Won note featured the mother of Yulgok Yi I, the scholar on the previous 5,000 Won bill. Her name is Shin Saimdang, a wonderful mother, knowledgeable, holding a drawing exam.

How much is 1 million Won in Vietnamese Dong?

Want to know in detail? How much is 1 million Won in Vietnamese Dong? Then first we need to convert 1 Won to how many Vietnamese Dong. According to the latest currency rates updated by the State Bank of Vietnam,

1 Won = 18.6 VND

Applying the above calculation, we can calculate the following:

  • 2 million won = 37,200,000 VND
  • 3 million Won = 55.800.000 VND
  • 4 million Won = 74.400.000 VND
  • 5 million Won = 93,000,000 VND
  • 6 million Won = 111,600,000 VND
  • 7 million Won = 130,200,000 VND
  • 8 million Won = 148,800,000 VND
  • 9 million Won = 167.400.000 VND
  • 10 million Won = 186,000,000 VND

Where is the reputable place to change Won to Vietnamese currency?

Exchange Won at trusted addresses
Exchange Won at trusted addresses

Although the Won is not as popular as the USD in Vietnam, it is not a big problem because the following lamchutaichinh will tell you where to exchange reputable Won.

  • Currency exchange at the Bank: this is the safest, most reputable way to change money and closely follow the current currency rate. We encourage you to exchange money this way. Any bank in Vietnam can change it, but remember when you go, bring your ID card or passport to do the procedures.
  • Exchange at the airport: for the convenience of tourists or traveling between countries, there are money exchange counters at all airports. However, you are subject to a rather high discount.
  • Exchange money at travel websites and forums: You can exchange money with those in need on these websites. But be careful if you transfer money.
  • Exchange at a gold shop: this is considered the fastest and most convenient way. You can enjoy good currency spreads. However, the limitation here is that not all gold shops have foreign currency exchange and if there are, there are quite a few places to exchange Won.

What factors affect the fluctuation of Won-Vnd exchange rate?

In case you are afraid that this exchange will have a large fluctuation and need to find out when is the right time to exchange money, you need to pay attention to the following factors:

  • Inflation spread
  • Interest rate difference
  • Current account deficit
  • Public debt
  • Trade exchange rate
  • National level of political and economic stability

Some notes when changing 1 million Won into Vietnamese Dong

Won-VND currency rate may vary from bank to bank. So if you want the most detailed and accurate exchange rate, go directly to the banks, you will be provided with complete information as well as answered questions.

If you change places outside the bank, please pay attention to the details of the applicable exchange rate, is it correct or not? Is there any discount? If yes, how much discount? Avoid losing out on ridiculous amounts of money.

Conclusion

Thus, lamchutaichinh has provided you with the necessary information about the Won, where to change money and answer the question. How much is 1 million Won in Vietnamese Dong? . Wish you a smooth and successful transaction thanks to the above information.

The article was edited by: Lamchutaichinh.vn


 


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