Korean Money
South Korean currency is called "won" generally. The ISO 4217 international standardized currency code is KRW, and the abbreviation symbol is ₩. If you are curious about Korean money name, or history of South Korean money, you can read this article.
Korean money name | Banknote & Coin Story
KOREAN MONEY BASIC INFO South Korean currency is called "won" generally. The ISO 4217 international standardized currency code is KRW, and the abbreviation symbol is ₩. Korean Currency Symbol ₩ ex..
koreanvibe.kr
Korean Money Value
1 USD to KRW,
Tendency of Exchange Rate
Mean value is about 1,142.84 KRW/USD
In the past 5 years' record about USD/KRW currency exchange rate(Jan 2017 ~ Jan 2022), the lowest point was recorded at 1,052.78, while the highest one was talled at 1,292.93. The mean value is, therefore, calculated to be 1,142.84. In addition, there’s approximate 4.16% of fluctuation in currency exchange rate. [Data reference: kr.investing.com website]
- Highest : 1,292.93
- Lowest : 1,052.78
- Mean : 1,142.84
- Deviation : 240.26
- Fluctuation : 4.16%
10,000 KRW is 8.75 USD approximately
When one US dollar has value with 1,142.84 Korean won, which was mentioned as “mean value” above, 10,000KRW is around 8.75USD. We are going to use this mean value as standard in this article. However, you might be charged about 1% more for commission when you buy cash in a bank. With this, the practical value of 10,000 KRW can be told 8.66USD (1,142.84 * 1.01 = 1,154.27).
Tendency before/during pandemic
Before pandemic, KRW/USD value is commonly told to be in the range between 1,060 ~ 1,180. However, pandemic is throwing small and big stones in the lake of currency exchange rate.
Even though the value of KRW/USD rarely goes over 1,200, it happened when Korea owed money from IMF(International Monetary Fund) in 1997, and couple times since pandemic begun in 2020.
During pandemic, the rate appears to stay high in between 1,180 ~ 1,200, indeed, this trend seems to go on until the international battle with COVID-19 virus is over in my personal opinion.
What you can do with 10,000 Korean money
How valueable is 10,000 Korean money in real life?
When I worked and studied in Seoul, I paid about 7,000 ~ 12,000won per meal normally(ordering drinks is unnecessary in Korea).
However, it's hard to say the food or drink in Korea is in a certain price band, because, as you know, cheap foods can be just couple dollars while pricy eateries can provide tiny pieces of eatable thing for unbelievabe price. Hence, I would simply like to get you an idea about Starbucks coffee menu & their price in Korea.
Starbucks Korea menu & price
* Beverage price is for Tall size
Primary beverage
A tall size brewed coffee in Starbucks is 3,800won (3.33USD). Also the most popular espresso drink starts at 4,100won (3.59USD).
FYI, even though price of Caffe Americano varies depends on brand, it’s around 5,000 ~ 5,500won in most Seoul / Jeju cafes.
Frappuccino
When it comes to the fancy menu “frappuccino” in Starbucks Korea, the most pricy one that I found in their mobile app is “Jeju Black Sesame Cream Frappuccino” and “Jeju Mugwort Cream Frappuccino”. These cost 7,500won(6.56USD) each, and seems to be available only in Jeju branches. The other Frappuccino seen in the app cost is in between 4,800 ~ 6,800won.
Starbucks Reserve
Meanwhile, beverages available only in "Starbucks Reserve" -a type of Starbucks branch serving "high class" coffee- has way higher price than normal branches. Three espresso menu you can get only in Starbucks Reserve are 9,500won(8.3USD) each, and the most quality hand drip coffee with Hawaii Kau beans is 13,000won(11.38USD) per cup.
Starbucks meal combination within 10,000 KRW
To have a meal, you might feel like to have one beverage and one bread together. The following screenshots are possible examples of meal you can choose in Starbucks Korea with 10,000won.
Starbucks custom combo within 10,000 KRW
example 1
Starbucks custom combo within 10,000 KRW
example 2
Anyone who wants to practice counting Korean money would find helpful about another article titled "Mastering Korean Money Counting".
More info & Reference
All information relevant to Starbucks Korea is refered to their Korean mobile app "스타벅스". They have copyright of all Starbucks related photos I put on in this article. If you want to see more menu or price of them, you could go to the app store, and install the app looking like this below.
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