The ISO 4217 code for South Korea’s currency, the won, is KRW.
The code combines the country identifier KR with W, the initial of won. ISO 4217 codes distinguish currencies in banking, foreign exchange, accounting, travel, and international payments. South Korea’s won is also commonly represented by the symbol ₩.
The South Korean won is the currency of the Republic of Korea. It was introduced in its modern form in 1962, replacing the hwan. The Bank of Korea issues the country’s banknotes and coins, while the won’s value is allowed to move in foreign-exchange markets.
KRW is sometimes confused with KPW, the code for North Korea’s won. The two currencies share a historical name but are separate national currencies and are not interchangeable. The Korean word won is related to a term meaning “round,” referring to the shape of coins.