South Korean won

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/south-korean-won

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Where is South Korean won?East Asia, southern Korean Peninsula
2. What is the capital of South Korean won?Seoul
3. What money is used in South Korean won?KRW
4. Who wrote South Korean won?Bank of Korea
5. What is the subunit?Jeon (1 won = 100 jeon, largely obsolete in circulation)
6. Why did South Korea change its money from the won to the hwan and back?After the Korean War, the economy was very unstable, so the country switched to the hwan in 1953. In 1962, the won was brought back to help the economy grow and become stronger.

Korean Peninsula: A geographical landmass in Northeast Asia, comprising North and South Korea.
Central Bank: The institution responsible for overseeing a nation's monetary system and currency.
Monetary Policy: Actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity.
Exchange Rate: The value of one currency for the purpose of trading it for another.