JPY/KRW: what to know
The JPY/KRW rate shows how much KRW you get for 1 JPY. Right now, 1 JPY buys 8.7392 KRW at the mid-market rate. In the other direction, 1 KRW is worth 0.1144 JPY.
In the short term JPY is driven mainly by Bank of Japan policy and global risk appetite, while KRW responds to tech exports and global risk appetite.
The Japanese Yen (JPY) is issued by Bank of Japan. “Yen” literally means “round object”. The South Korean Won (KRW) is issued by Bank of Korea. “Won” shares a root with yen and yuan, meaning “round”.
Over the past 12 months the JPY/KRW rate has ranged between 8.5551 and 9.6392 — a change of -7.26% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.