You're standing in a neon-lit convenience store in Seoul, staring at a triangle kimbap or a single banana milk. The price tag says 1,000. It sounds like a lot of money until you realize it’s basically pocket change. But exactly how much pocket change are we talking about right now?
Honestly, the answer changes while you’re reading this. Currencies are flighty. As of mid-January 2026, 1,000 South Korean Won (KRW) is worth approximately $0.68 USD.
That is not a typo. It’s less than a dollar. In fact, it’s significantly lower than the "mental math" rate of $0.75 or $0.80 that many travelers used to rely on just a couple of years ago. The Won has been taking a bit of a beating lately, and if you’re holding US Dollars, your purchasing power in Korea is currently at a near 17-year high.
The Reality of 1000 Won in US Dollars Right Now
If you want to get technical—and since you're looking this up, you probably do—the exchange rate has been hovering around 1,475 Won per 1 US Dollar.
When you flip that around to see what 1,000 Won gets you, you’re looking at roughly 68 cents.
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For years, people used a "rule of thumb" where you just dropped three zeros to get the dollar amount. 1,000 Won was a dollar. Easy, right? Well, that math will leave you broke in 2026. The gap between the Won and the Dollar has widened so much that 1,000 Won is now closer to a half-dollar than a full one.
Why the Won is Acting So Weird
It’s a wild time for the Korean economy. While companies like Samsung and SK Hynix are absolutely crushing it in the AI chip market (the KOSPI index recently hit record highs near 4,457), the actual currency hasn't caught the vibe.
There’s a few reasons for this:
- The "Trump 2.0" Effect: With the US administration pushing 25% tariffs on countries doing business with Iran, and general global trade uncertainty, the Dollar has become a fortress. Everyone wants Greenbacks.
- Local Hedging: Ordinary Koreans and big firms are actually "betting" against their own currency by moving their savings into US Dollar deposits. When everyone sells Won to buy Dollars, the Won drops further.
- Interest Rate Gaps: The Federal Reserve in the US is keeping rates around 3.75%, while the Bank of Korea is holding steady at 2.50%. Money naturally flows toward higher returns, which means it's flowing out of Seoul and into New York.
What Can You Actually Buy for 1000 Won?
In 2024, 1,000 Won could still get you a decent snack. In 2026? Inflation has joined the party.
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If you walk into a CU or GS25 (the big convenience store chains), 1,000 Won is the "entry-level" price point. You can usually grab a small bottle of mineral water or perhaps a single Choco Pie.
If you're lucky, you might find a "1+1" deal on some loose candy. But that iconic 1,000 Won kimbap? Those days are mostly gone. Most triangle kimbaps now sit between 1,200 and 1,700 Won. You're essentially looking at a currency that behaves like the US quarter used to—it's what you give to a kid to get them out of your hair for five minutes, but it won't buy a meal.
The 1000 Won "Daiso" Myth
Daiso is the legendary "everything is 1,000 won" store in Korea. Except, it isn't anymore. While they still have a massive selection of 1,000 Won items (roughly $0.68), more and more of their inventory is creeping up to the 3,000 or 5,000 Won mark.
Is the Won Undervalued?
Experts are split. Kenneth Rogoff, an economics professor at Harvard, recently mentioned at the AEA 2026 conference that the Won is "significantly undervalued." He thinks a rebound is coming within the next three years.
But then you have the real-world traders. The Won recently hit a ten-day losing streak, touching its weakest level since the 2009 global financial crisis. Finance Minister Koo Yun Cheol has been trying to talk the currency back up, but words only go so far when investors are worried about Middle East tensions and rising oil prices.
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How to Get the Best Rate
If you’re heading to Myeongdong or Gangnam, don’t just take the first rate you see.
- Avoid Airport Booths: They’ll charge you a "convenience fee" that effectively turns your 1,000 Won into 60 cents.
- Use Local Apps: Apps like Wowpass or NAMANE are the move in 2026. You load them up with your home currency, and they give you a much tighter spread than a physical bank.
- Check the "Global Strength": Keep an eye on the Dollar Index (DXY). When it’s up near 99 or 100, your 1,000 Won will feel even smaller.
Practical Next Steps
Before you swap your cash, check a live ticker. The 68-cent mark is the baseline for January 2026, but a single speech from the Fed or a shift in semiconductor exports can move that by 2% in an afternoon. If you're a traveler, lock in your rates now while the Dollar is this strong—you're basically getting a 30% "discount" on everything in South Korea compared to the historical average.