North Korean won
Official currency of the Democratic People's Republic of Korea
AI overview
The North Korean won is the official money used in North Korea for buying and selling goods and services. It matters because it's the currency that the country's economy relies on for all domestic transactions and financial dealings.
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Article
The Korean People's won, more commonly known as the North Korean won (symbol: ₩; code: KPW; Korean: 조선 원) and sometimes known as the Democratic People's Republic of Korea won (Korean: 조선민주주의인민공화국 원), is the official currency of North Korea. It is subdivided into 100 chon. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital city of Pyongyang.
Etymology