Why does the Korean won come in thousands, and much higher numbers? I’m coming from U.S background, where we start from 1’s, then 5’s, etc. Can someone explain it, or point me to a link that does?
Probably because KRW has relatively low value compared to USD. But I’m no economist, so I don’t know exactly, but I guess maybe inflation has something to do about it.
It’s just what they decided to do I suppose. Inflation has nothing to do with it. My Korean friends ask a similar question as to why American money is so complicated with fractions and decimals? Why are there dollars and cents? Korean Won is much easier. Instead of 1 dollar, or point zero one dollar (1 cent), It’s just 1000 won ($1), and 10 won ($0.01). Whole numbers are much less confusing. The strangeness of either system is all relative to which country you grow up in!
I wish I could heart this answer more.
My thought was that it was an older currency and it started lower and moved up… but i have no idea.