Etymology of the Korean currencies
The won is the currency of both North and South Korea. "Won" is a cognate of the Chinese currency unit, the yuan (//), and the Japanese currency unit, the yen (; ¥), meaning "round object". The won is subdivided into 100 jeon ().
South Korean won
The banknotes include over 10 security features in each denomination. The 50,000-won note has 22 security features, the 10,000-won note 21, the 5,000-won note 17, the 2,000-won note 10 and the 1,000-won note 19. Many modern security features that can be also found in euros, pounds, Canadian dollars, and Japanese yen are included in the banknotes.
Some security features inserted in won notes are:
For the first time in the world, KOMSCO, the Korean mint, inserted a new substance in the notes to detect counterfeits. This technique is being exported to Europe, North America, etc.As the South Korean economy is evolving through the use of electronic payments, coins of the South Korean won are becoming less used by consumers. The Bank of Korea began a trial which would result in the total cessation of the production of coins of the South Korean won.