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 ().
Korean currency
After the devaluation of the hwan, the won was reintroduced as South Korea's currency on June 10, 1962.