North Korean Won
(KPW) Insights
Currency of one of world's most isolated command economies; under Kim dynasty rule (Kim Il-sung 1948–1994, Kim Jong-il 1994–2011, Kim Jong-un 2011–present); economy based on coal, iron ore, military hardware export (sanctions-evaded), and increasingly cryptocurrency theft; UN Security Council maximum sanctions since 2017; jangmadang (market) economy operates despite official command structure; donju (merchant class) growing; estimated $3+ billion in cryptocurrency stolen by Lazarus Group (state-linked hackers) 2017–2024; nuclear and ICBM programme driving sanctions intensification
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Currency Snapshot
Technical specifications, central bank governance, and market standing for North Korean Won.
KPW
Standardized ISO 4217 Currency Code
₩
Unicode Glyphs & Display Symbol
1/100 = Chon Decimals
Subdivision unit definition
North Korea
Central Bank of the Democratic People's Republic of Korea (Chosŏn Minjujuŭi Inmin Konghwaguk Chungang Ŭnhaeng)
Central Bank of the Democratic People's Republic of Korea (Chosŏn Minjujuŭi Inmin Konghwaguk Chungang Ŭnhaeng)
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Market-determined exchange rate mechanism
Currency Standard: Fiat (state-controlled command economy; multiple rates; effectively non-convertible externally)
Classified as Fiat (state-controlled command economy; multiple rates; effectively non-convertible externally) in global trade networks
Banknotes
₩ 5
Coins
1ch
Global Network Integration
The FX Intelligence terminal maps the institutional footprint of the North Korean Won, highlighting cross-border utilization and primary trading corridors.
Verified Authority
Regulated data streams mapped to Central Bank of the Democratic People's Republic of Korea (Chosŏn Minjujuŭi Inmin Konghwaguk Chungang Ŭnhaeng).
KPW Market Insights
Deep-dive analysis of the North Korean Won's global impact, remittance role, and institutional influence.
Strong Currency Impact
N/A (isolated, non-convertible); in theory: cheaper official-price goods; lower state enterprise output value in KPW terms
Weak Currency Impact
N/A (isolated economy); market (jangmadang) prices rise; unofficial USD/CNY preferred for large transactions
Remittance Role
North Korea has extremely limited formal remittances due to total financial isolation; Zainichi Koreans (ethnic Koreans in Japan aligned with DPRK) historically sent modest remittances through Chongryon organisation but this has diminished significantly; some informal channels exist
Central Bank Tools
Currency printing, State credit allocation (to state enterprises and military), FX controls, Jangmadang market suppression (periodic)
Common Questions About North Korean Won
Everything you need to know about KPW exchange rates, banknotes, and historical significance.