South Korean Won

Definition ∞ The South Korean Won is the official fiat currency of the Republic of Korea, denoted by the symbol ₩ and ISO code KRW. It functions as the primary medium of exchange for goods and services within the South Korean economy. This national currency is issued and regulated by the Bank of Korea. Its value is subject to global economic conditions and domestic monetary policy.
Context ∞ The South Korean Won frequently appears in cryptocurrency news due to the nation’s substantial digital asset trading volume and active investor base. Local exchanges often record significant trading pairs against KRW, making it a key indicator of regional market sentiment. Regulatory developments in South Korea concerning digital assets, such as the Virtual Asset Act, directly influence the interplay between the Won and the domestic crypto market.