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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 Bulgarian Lev (BGN) is the official currency of Bulgaria, introduced in 1880. It is subdivided into 100 stotinki and is used as a medium of exchange for goods and services within the country, playing a crucial role in the national economy.