function calculateConversion() {
// Get input elements by ID
var krwInput = document.getElementById('krwAmount');
var rateInput = document.getElementById('exchangeRate');
var resultBox = document.getElementById('resultBox');
var usdResult = document.getElementById('usdResult');
var conversionDetail = document.getElementById('conversionDetail');
// Parse values
var krw = parseFloat(krwInput.value);
var rate = parseFloat(rateInput.value);
// Validation
if (isNaN(krw) || krw < 0) {
alert("Please enter a valid amount in Won (KRW).");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
// Calculation: USD = KRW / Rate
var usdAmount = krw / rate;
// Formatting currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2,
maximumFractionDigits: 2
});
var krwFormatter = new Intl.NumberFormat('ko-KR', {
style: 'decimal',
maximumFractionDigits: 0
});
// Display results
resultBox.style.display = 'block';
usdResult.innerHTML = formatter.format(usdAmount);
conversionDetail.innerHTML = krwFormatter.format(krw) + " KRW at rate " + rate + " = " + formatter.format(usdAmount) + " USD";
}
Understanding the South Korean Won to US Dollar Exchange Rate
Converting South Korean Won (KRW) to US Dollars (USD) is a frequent necessity for travelers, expatriates, and international investors dealing with the South Korean market. Whether you are planning a trip to Seoul, paying for Korean goods, or analyzing financial assets, understanding how the exchange rate works is crucial for accurate financial planning.
How the KRW to USD Calculation Works
The exchange rate represents the value of one currency relative to another. In the context of South Korea and the United States, the rate is typically expressed as the number of Won required to purchase one US Dollar (e.g., 1,350 KRW = 1 USD). To convert Won into Dollars, you divide the amount of Won by the current exchange rate.
The Formula: Total USD = Total KRW / Exchange Rate
For example, if you have 100,000 KRW and the exchange rate is 1,350 KRW/USD:
$74.07 = 100,000 / 1,350
Common Conversion Benchmarks
Understanding the approximate value of common South Korean banknotes can help you budget effectively. The following table provides estimates based on a hypothetical exchange rate of 1,350 KRW per 1 USD.
Korean Won (KRW)
US Dollar Estimate (USD)
Common Usage
1,000 ₩
$0.74
Small snack or convenience store item
5,000 ₩
$3.70
Coffee or light fast food meal
10,000 ₩
$7.41
Standard lunch or museum entry
50,000 ₩
$37.04
Dinner for two, groceries, or gifts
1,000,000 ₩
$740.74
Monthly rent (studio) or high-end electronics
Factors Influencing the KRW/USD Rate
The exchange rate between the Won and the Dollar is not static; it fluctuates based on global economic conditions. Key factors include:
Interest Rates: Decisions by the US Federal Reserve versus the Bank of Korea heavily influence capital flow. Higher US rates often strengthen the Dollar against the Won.
Trade Balance: South Korea is a major export economy (semiconductors, cars, ships). A strong export performance can strengthen the Won.
Geopolitical Stability: Regional tensions on the Korean peninsula can cause volatility in the KRW value.
Economic Indicators: Inflation data, GDP growth, and employment statistics in both nations drive daily market fluctuations.
Tips for Exchanging Money
When converting Won to Dollars (or vice versa), be mindful of the "spread"—the difference between the buying and selling rates offered by banks and currency exchanges. Airport kiosks often charge higher fees compared to local banks or specialized currency exchange services in areas like Myeongdong in Seoul. Always check the mid-market rate (the rate shown on this calculator) to see how close your offer is to the real market value.