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Won (; ; McCune-Reischauer wŏn; Revised Romanization: won) is the official currency used in both South Korea and North Korea. Their exchange values differ, however.

Full names Symbols Abbr Equivalence¹
North Korean won ₩n or Wn KPW ≈ 0.5 US dollar
South Korean won ₩ or W  KRW ≈ 0.0010 US dollar
¹ Approximate averages value in early 2000s.

Historically, North and South Korean won have been divided into 100 jeon (전; 錢; McCune-Reischauer: chŏn; Revised Romanization: jeon; in North Korea, it is also Romanized jun). Jeon are no longer used in South Korea, as the smallest amount of money that typically changes hands is 100 Won, or roughly 10 US cents.

The word jeon is also used in Korean to translate the word "cent," and in this context accompanies bul, which means "dollar." These two words are used by Koreans living in the United States and Canada when referring to the currencies of those two countries.

Won is also the name of a new Korean sect of Buddhism.