KRW is the currency of South Korea and what I use to pay my rent and utilities. Don't let the number of zero's confuse you, it's done on purpose. They don't have a sub-deliminator of their currency, no "dime / nickle / penny". Instead they just use 1,000 as the base value for the printed money with coins usually at 100 and 500 denominations, although I've seen 1 / 10 and 50 won coins, their really small and pretty worthless. The paper denominations are 1,000 5,000 10,000 and 50,000, with 10,000 being the most common but the new 50,000 is picking up as it doesn't require you to carry a gangster roll around with you. Exchange rate now is $1USD to 1050 KRW, was 1$ USD to 970 prior to the bank collapse in 08, then went to 1$ USD to 1420 KRW during late 08 early 09.
And for the record, luxury goods here are ridiculously expensive. Levis designer jeans are 250,000 KRW. BMW 3 series is 80,000,000 to 90,000,000 KRW, local Kia / Hyundai / Samsung is 26,000,000 to 40,000,000. My 1500 square foot city apartment is 1,100,000 KRW a month with a 20,000,000 KRW deposit. Same apartment in Seoul would be 3,000,000 KRW a month with a 20,000,000 to 40,000,000 KRW deposit.