Being the official currency of South Korea, the South Korean Won is a significant currency in East Asia. There are several synonyms for the Won, with some widely used alternatives being KRW, ₩, and Won Korea Selatan. In addition, the currency is also referred to as Hanguk Won and Chosun Won, based on the official names of the country in Korean. As one of the strong currencies in Asia, South Korean Won is used for various transactions, including tourism, trade, and investment. It is important to note that the South Korean Won has a fluctuating exchange rate, influenced by various economic factors globally.