If you are planning to travel or study and work in Korea, or you are a Korean coming to Vietnam to work or visit relatives, it is important to learn about the value of won and how to convert currency. is very necessary. Because there is a difference in face value between the two currencies, up to 1000 Korean Won is also worth many times larger than the VND in Vietnam.
So How much is 1000 Won in Vietnamese Dong? ? In order to avoid losses in the process of exchange and sale, with Lamchutaichinh.vn, we will understand extremely useful information about the won and how to convert this foreign currency.
Table of Contents
Information about the Korean Won (KRW)
The Won ( – won), denoted or KRW, is the official currency of the Republic of Korea, issued by the Central Bank of Korea and circulated in the “Land of Kim”. Spend”.
Won money was first issued by Joseon Bank in 1945, but it was not until 1946 that the first two banknotes of 10 Won and 100 Won were introduced, followed by 5 Won and 1000 Won bills. was introduced in 1949. It was not until 2016 that the Central Bank of Korea announced that it was abolishing the circulation of banknotes with denominations of less than 1000 Won, and decided to use coins and banknotes in parallel since then.
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Today, coins (6 types) and banknotes (4 types) are still widely circulated in Korea with many different denominations.
Won coins in the form of coins have 6 denominations:
- 1 Won: white, made from aluminum;
- 5 Won: yellow from copper-zinc alloy;
- 10 Won: yellow made from copper – zinc alloy, or pink made from copper – aluminum alloy;
- 50 Won: white, made of copper, aluminum and nickel alloy;
- 100 Won: white from copper-nickel alloy;
- 500 Won: white from copper-nickel alloy.
Won coins in the form of banknotes have 4 denominations:
- 1000 Won: blue color, depicting Yi Hwang, a Confucian philosopher and Joseon’s greatest teacher;
- 5000 Won: red, yellow, depiction of Yi I, brand name Yulgok, a prominent Joseon Confucian scholar;
- 10,000 Won: green, with a portrait of King Sejong (The Great Emperor, the 4th king of the Joseon Dynasty and also the most respected king.
- 50,000 Won: yellow-orange, printed with the image of Mrs. Shin Saimdang – the mother of scholar Yi I – Yulgok, both a representative female artist of the Joseon period and a wonderful mother who raised and taught a genius.
And to better understand the exchange rate of the Korean Won, please read the next section.
Meaning of Korean Won exchange rate
Before going into answering the question “How much is 1000 Won in Vietnamese Dong”, we need to understand the exchange rate of Won, to know the difference between Won and VND, so that it is easy to convert the number by ourselves. the money I want.
In fact, the exchange rate of the Won is always fluctuating from time to time and depending on the economy of the country, but this change is not significant. According to the latest update in 2022 of Lamchutaichinh.vn, the Korean Won currency has an exchange rate of 1 Won approximately equal to 18.83 VND, which is the average exchange rate calculated according to data of more than 20 banks supporting VND transactions. Won.
Here, Lamchutaichinh.vn would like to provide you with the Won – VND exchange rate conversion table for your reference, easy to understand:
About the buying and selling rate of Won currency will depend on each bank that supports Won transaction.
The lowest buying won rate is 1 Won = 14.82 VND (NCB Bank), and the highest is 1 Won = 19.74 VND (OCB Bank).
Regarding the selling rate of Won, the lowest is 1 Won = 18.87 VND (Saigonbank) and the highest is 1 Won = 21.21 VND (MB Bank).
Thus, it can be seen that if you change from 1 Won to Vietnam Dong, it is very small, so it cannot be used in daily life in Vietnam. That’s why the issue of how much Vietnamese won to change from 1000 won is more interested.
How much is 1000 Won in Vietnamese Dong?
Based on the average exchange rate provided from more than 20 banks in Vietnam that support Won transactions: 1 Won = 18.83 VND, we can easily calculate how much VND 1000 Won is.
So, 1000 Won will equal: 1000 x 18.83 = 18,830 VND
For more details, here are the buying and selling rates of 1000 Won at some banks:
- Buy: the lowest is 1000 Won = 14,820 VND (NCB Bank), the highest is 1000 Won = 19,740 VND (OCB Bank).
- Selling: the lowest is 1000 Won = 18,870 VND (Saigonbank), the highest is 1000 Won = 21,210 VND (MB Bank).
With the amount converted from 1000 Won to Vietnamese currency as above, you were able to buy and sell a number of items in daily life in Vietnam.
Note: the exchange rate of the currency may change from day to day and depends on the exchange rate of each bank. If you want to find out exactly how much Vietnamese Dong is in 1000 won at a given time, you should contact the bank you want to use the currency exchange service for to know the most accurate number.
Where is the prestige to change 1000 Won into Vietnamese currency?
The need to change Won into Vietnamese currency can come from an overseas Vietnamese living and working in Korea sending money back to Vietnam, a Vietnamese student returning home to visit relatives and friends, or maybe a Korean guests who want to work and travel in Vietnam, no matter who they are, living in Korea or Vietnam, they can exchange Won into Vietnamese currency at reputable locations in both. country.
Currently, you can access money exchange services at a number of locations such as banks, airports, gold shops, or at international travel forums.
However, for the safety and security of money changers, exchanging Won to VND at travel forums is not recommended.
Therefore, Lamchutaichinh.vn will introduce you to the following reputable money changers:
At the bank
For customers who want to convert money in Vietnam, customers can rest assured that all banks are licensed by the State to support financial transactions to change Won into Vietnamese currency according to the provided tariff. most accurate at any given time. You can refer to some banks such as Vietcombank, MB, HDBank, BIDV, Agribank, Vietinbank, …
Customers who want to exchange money in Korea can go to reputable local banks such as Shinhan Bank, Wooribank, etc. to get support for fast foreign currency conversion.
If the customer needs to exchange a large amount of money, they need to bring a valid ID/CCCD/Passport, and some documents as required by each bank such as records of career proof, proof of use purpose. foreign currency, and other related documents. Each bank will have its own regulations, bank staff will guide customers more specifically during the conversion process.
In case you want to go to a bank office in Korea to do transactions, you need to pay attention to the working time at banks, because normally Korean banks will work Monday – Friday, from 9:00 – 4:00 pm. You can exchange money by card or by cash, but to make transactions more convenient in Korea, you should bring your Mastercard, Visacard, etc.
At international airports in both Korea and Vietnam, there are foreign currency exchange counters, much more convenient for passengers traveling between the two countries. To be able to exchange money directly at these counters, the counter staff will advise and assist you in the conversion process.
At gold and gem shops
Changing money at gold, silver, and gem shops in Vietnam can also be a good idea, because customers can get a relatively affordable amount of money without providing as many documents as in Vietnam. Bank.
However, not all gold shops are licensed to support currency exchange. Accordingly, the participants in money changers at these illegal shops will be sanctioned according to the current Vietnamese law, because changing money at the gold shops operating without papers will affect the control of money. legal money control.
Therefore, you should carefully study the gold selling points and choose to trade at a reputable and safe address that is legally licensed by the State.
Some notes when changing 1000 Won to Vietnamese Dong
In order for the process of changing Won to Vietnamese Dong to go smoothly and safely, you need to pay attention to the following issues:
- When looking for a safe and quality Won money changer, you should take the time to learn carefully and carefully from relatives or reputable forums, to avoid risks such as being scammed, appropriating property.
- People are not allowed to go to financial institutions, foreign currency exchange units without operating licenses (currency forums, spontaneous money exchange organizations, illegal gold and silver shops, etc.) to exchange freely. money, because this is an illegal act.
- Bank transaction offices and currency exchange counters at international airports will be the perfect places for you to confidently change Won into Vietnamese Dong. Besides, you can refer to a few points of sale of gold, silver, and gems that have been licensed by the State to support foreign currency exchange in Vietnam.
- In addition, in the process of converting Korean currency to Vietnamese currency, there will be a fee of 1% – 5% of the converted amount, depending on the policy of each bank, so choosing a supporting bank Currency exchange service with reasonable fee is also worth considering. If you are in Korea, then you can go to banks affiliated with other international banks to enjoy preferential rates.
Lamchutaichinh.vn hopes that this article has helped you pocket the most useful information about the Korean Won, and help you answer the question “How much is 1000 Won in Vietnamese Dong??” as well as how to convert money between Korean Won and Vietnamese Dong.
The article was edited by: Lamchutaichinh.vn