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Dodge7
Joined: 21 Oct 2011
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 Posted: Fri Aug 24, 2012 12:00 am Post subject: There Should be a 20,000 Won Bill |
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Just saying...
Didn't they just introduce a 50k note? They should have just made it a 20k note it would be much easier. |
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Keeper
Joined: 11 Jun 2012
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| Posted: Fri Aug 24, 2012 5:09 am Post subject: |
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| Hopefully the currency will one day be worth more and it will actually mean something to be a millionaire in KRW. |
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Ibsen
Joined: 09 Dec 2011
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| Posted: Fri Aug 24, 2012 8:00 am Post subject: |
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| A 20,000 note would make sense, but then again it's also fine the way it is. I mean I imagine most people rarely use cash anyway, and if they do carrying a few extra bills in your wallet is no big deal. |
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alongway
Joined: 02 Jan 2012
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| Posted: Fri Aug 24, 2012 8:05 am Post subject: |
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| Keeper wrote: |
| Hopefully the currency will one day be worth more and it will actually mean something to be a millionaire in KRW. |
You only say that because a lot of other currencies don't break their monetary unit up into two.
Imagine if everything was done in cents and not dollars.
It's the same thing with the yen, but the Won could easily be changed so that 1 new won = 10 old won to at least drop a 0, or if you're obsessed with decimals, they could have won and some other decimal counter like cents. When it comes to figuring out how much a currency is "worth" Simply thinking 1 won != $1 so there it's worth nothing is silly.
1000 won = $1 is your parity. of if you like 1000won=100cents
At this point they could probably change the currency to remove one place and have 1 new won = 10 old won. |
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deizio
Joined: 15 Jun 2007
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| Posted: Fri Aug 24, 2012 8:48 pm Post subject: |
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| alongway wrote: |
You only say that because a lot of other currencies don't break their monetary unit up into two.
Imagine if everything was done in cents and not dollars. |
This doesn't in any way diminish your point, but for those who may not know the won has a subdivision, 1 won = 100 jeon. However, these days it's effectively just a decimal place rather than a meaningful unit. The North also uses won / jeon (or probably chŏn if you're a stickler for that kind of thing.) |
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jennykwon
Joined: 19 Aug 2012
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| Posted: Sun Aug 26, 2012 10:32 am Post subject: |
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| Naaah, not worth it |
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chasmmi
Joined: 16 Jun 2007
Location: Ulsan
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| Posted: Sun Aug 26, 2012 3:46 pm Post subject: |
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Oh the good old days of getting paid in piles of 10,000 won notes 
My only issue I ever had with the currency was when I discovered too late that my bank that I used to do a currency exchange was not aware of the relative lack of worth of most Korean bank notes.
As such when I ordered 300,000 won in Korean currency I was given the following:
10 x 10,000
20 x 5,000
100 x 1,000
What made it even more fun was that this was a year after the big currency design change and it seems the change had not yet reached the UK so my pile of a hundred 1,000won notes were all the old ones.
Led to a lot of awkard bill paying when I paid a 17,000won dinner bill with a pile of near-discontinued tiny currency. |
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seoulsucker
Joined: 05 Mar 2006
Location: The Land of the Hesitant Cutoff
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| Posted: Sun Aug 26, 2012 10:19 pm Post subject: |
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| The bills follow the coins...10, 50, 100, 500. Considering the way that Koreans count, (baek, chun, man, ship-man, baek-man, chun-man, etc.) it makes sense to me. |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Sun Aug 26, 2012 10:58 pm Post subject: |
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I like the simplicity of the currency system, 1000s and 10,000s, done.
Just got back from Europe, exchanged my left over Euros, got some tiny 10won coins??? What's the point of THAT! Is there a 1won? |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Sun Aug 26, 2012 11:20 pm Post subject: |
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| When I closed out a bank account here the payout included 5 & 1-won coins. |
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