Official salaries in North Korea are very low, typically ranging between 5,000 and 10,000 won per month (equivalent to $1-$3). These salaries are insufficient to meet basic needs, forcing most citizens to rely on the informal market for essential goods.
The local currency is the North Korean Won (KPW). Foreigners are not allowed to use the Won. Foreigners are required to use foreign currency. The euro is the most widely accepted foreign currency.
What can 50,000 won buy in Korea? In South Korea, 50,000 won can cover different costs depending on what you need. This amount might pay for several meals at average restaurants or one or two meals at fancier places.
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.
Tourism: Individuals cannot use a U.S. passport to travel to, in, or through North Korea without a special validation from the Department of State. Special Validations are granted only if it is in the US national interest to do so. Tourists are considered to be participating in activities at their own risk.
Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently. This is very much needed given the extreme volatility in global currencies lately. Sending money abroad is as easy as ever.
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