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The South Korean Won (KRW) is the official currency of South Korea, introduced in 1945 to replace the Korean yen. It is a fiat currency, meaning its value is not backed by physical commodities but rather by the government that issues it. The Won is used for all transactions within South Korea and is subdivided into 100 jeon, though the use of jeon is largely obsolete in everyday transactions.
The Armenian Dram (AMD) is the official currency of Armenia, established in 1993 after the country gained independence from the Soviet Union. The currency is subdivided into 100 luma and is issued by the Central Bank of Armenia, playing a crucial role in the country's economy by facilitating domestic and international trade.