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KPW (North Korean Won)

What is 'KPW'

The currency symbol or currency abbreviation for the North Korean won (KPW), the currency for North Korea. The won is divided into 100 chon and is often presented with the symbol (W). The word "won" is a hybrid of the Chinese word "yuan" and Japanese "yen".

Explaining 'KPW'

The won was first seen in 1947, replacing the previous Korean yen. It underwent a 100-to-1 revaluation in 1959. The North Korean government abandoned the set exchange rate with the U.S. dollar in 2001, and the real exchange rate has dropped precipitously since then.


Further Reading


Scenarios for a Transition to a Prosperous Market Economy in North Korea
www.tandfonline.com [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …

The defector's tale: inside North Korea's secret economyThe defector's tale: inside North Korea's secret economy
www.jstor.org [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …

The Sino-North Korean Border Economy: Money and Power Relations in North KoreaThe Sino-North Korean Border Economy: Money and Power Relations in North Korea
muse.jhu.edu [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …

Dollarization of the North Korean Economy: Causes and EffectsDollarization of the North Korean Economy: Causes and Effects
papers.ssrn.com [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …

The political economy of economic reform in North KoreaThe political economy of economic reform in North Korea
www.tandfonline.com [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …

North Korea's Currency Reform a Failure?North Korea's Currency Reform a Failure?
search.proquest.com [PDF]
… 4 Contrary to what was the case in other transition economies, savings by North Koreans in KPW are not … difference in terms of freedom of movement of capital and labor between the North and the South … A democratic North Korean state will not necessarily be a comfort for China …



Q&A About KPW (North Korean Won)


How many chon are in one won?

One won is divided into 100 chon.

What is the currency symbol for North Korean Won?

The currency symbol or currency abbreviation for the North Korean won (KPW), the currency for North Korea.

Why did North Korea abandon its set exchange rate with U.S dollars in 21'?

The government abandoned its set exchange rate with U.S dollars because it had dropped precipitously since then. ""

What does KPW stand for?

The acronym KPW stands for "North Korean Won".