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Korea, officially the Republic of Korea, is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to mainland Asia. The name Korea is derived from Goryeo, a dynasty which ruled from the 10th to 14th centuries. South Korea lies in the north temperate zone and has a predominantly mountainous terrain. The capital and largest city is Seoul, with a population of 10 million.Prior to 1910, the won was the currency. 1910 to 1945 saw the colonial era under the Japanese, in which the won was replaced by the Korean yen which was at par with the Japanese Yen.
Korea divided in 1945 when WWII ended, resulting in two separate currencies for the South and the North, both called won. The first South Korean won was subdivided into 100 jeon and initially had a fixed exchange rate to the U.S. dollar at a rate of 15 won to 1 dollar. A series of devaluations followed, the later ones, in part, due to the Korean War in 1950.
South Korea is a developed country with a stable economy and high Human Development Index. South Korea is a global leader in the industrial and technological sectors; its export-driven economy focuses production on electronics, automobiles, ships, machinery and robotics.
Top travel tip: Taxis in South Korea are color coded according to the level of service offered. A grey or white taxi is a basic car with a qualified but potentially inexperienced driver the black cabs are luxury cars with more experienced drivers.
Kite flying is a popular pastime in South Korea. On the last day of the new moon during the Lunar New Year, people traditionally let go of their kites, hoping any bad luck will float away with them.
The South Korean Won is the official currency of South Korea. The ISO 4127 currency code for the South Korean Won is KRW.