5 Million KRW to CAD (2024)

FAQs

Is the Canadian dollar stronger than the Korean won? ›

1 CAD = 1,000.43962 KRW Jun 11, 2024 01:58 UTC

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The won's weakness is attributed to the strength of the dollar and the geopolitical tensions in the Middle East. Financial markets have scaled back expectations about Federal Reserve rate cuts after Fed officials implied they intended to keep interest rates higher for longer.

As of November 2023, the mean purchase price of housing in Seoul, South Korea amounted to around 819 million South Korean won. The average price of apartments amounted to around 1.05 billion South Korean won while the price of row houses was about 341 million South Korean won.

The average salary in South Korea is around 3,900,000 KRW (South Korean Won) or USD 2900 per month (as per the exchange rate in May 2024). In this article, we'll dive into all the key statistics around the average salary in South Korea, the median salary, minimum wage, and annual increment rate.

According to a survey conducted in South Korea in 2021, around 34.5 percent of millionaires surveyed stated that households with a minimum annual income of 500 million South Korean won or more can be perceived as rich. The threshold to be considered wealthy increased with the level of wealth of the respondents.

The South Korean won (KRW) has been on a broad weakening trend since bouncing off trendline resistance at KRW1,285/USD in end-2023 and is currently down 3.0% for the year. Despite the currency's underperformance lately, we maintain our forecast for the KRW to average KRW1,260/USD in 2024.

10,000 won (만원, I will call it manwon because that is the Korean pronunciation) would convert to approximately 8.42 U.S dollars, but as a Korean-American it's always felt like 10 dollars, just because it starts with 10. There are a lot of things could buy in Korea with 10,000 won.

On average, 500,000 Korean won should cover basic expenses like food, local transportation, and some entertainment for 6 days in South Korea. Adjust based on your specific plans and preferences. It depends on how many of you are travelling.

What is the richest bank in Korea? ›

In 2022, KB Kookmin Bank was the largest bank in South Korea with total assets of around 500 trillion South Korean won. Hana Bank followed with about 462 trillion South Korean won in assets.

Korea's currency is the won. Paper money comes in denominations of 1,000; 5,000; 10,000; and 50,000 won bills. Coins come in 1, 5, 10, 100, and 500 won (1 and 5 won coins are not widely circulated).

Cost of living in South Korea is 26% cheaper than in Canada.

To put it shortly, you should exchange in Korea. Some people try to exchange their money in their home country before heading to Korea, while others may deem it fit to exchange it in Korea. To get the best rates, you're going to want to exchange currency in Korea, rather than your home country!