KRW to PHP today: South Korean won to Philippine peso
1,000 won = ₱47.03, and ₱1,000 buys 21,260.97 KRW. South Korea sent US$870 million in cash remittances to the Philippines in 2025 (BSP, preliminary), number 12 of the 50 corridors on this site, and took 38,390 newly deployed workers (DMW). Against 16 Oct 2025, when it was ₱0.0409, 1,000,000 KRW brings ₱6,134.55 more (1,000,000 × ₱0.006135). Next: ask the sending firm how many pesos will arrive and test it in the quote checker; collect at a BSP-registered office near you (offices by province).
Rate: BSP Reference Exchange Rate Bulletin, 16 Oct 2026. Working: US$0.000746 per KRW × ₱63.0490 per US$ = ₱0.0470.
1 KRW = ₱0.0470 · ₱1 = 21.2610 KRW · official rate (BSP bulletin), 16 Oct 2026
The converter applies the 16 Oct 2026 rate with no fee or spread. Cross-check: the ECB euro reference rates of 16 Oct 2026 give ₱0.0473 per KRW (₱70.8580 per euro ÷ 1,499.0102 KRW per euro), 0.50% above the BSP figure. The ECB fixes around 14:10 CET, while BSP uses New York closes of 15 Oct 2026, so the two are taken at different times. Changing pesos into won instead? PHP to KRW has bank selling rates.
Check a quote against the official rate
Type the KRW amount and the pesos your app or counter promises; the checker shows what the rate and fee cost you in pesos. If the gap is wide, try another firm before you send.
- What this transfer costs you against the official rate
- ₱352.76 (1.50%)
- At the official rate
- ₱23,517.28
- Provider's effective rate
- ₱0.0463
Rate used: 1 KRW = ₱0.0470, 16 Oct 2026. Cost = value at that rate minus the pesos that arrive, plus the fee converted at the same rate.
KRW to PHP over 30, 90 and 365 days
| Period to 16 Oct 2026 | High | Low | Average | Change |
|---|---|---|---|---|
| 30 days 23 rates | ₱47.1013 Oct 2026 | ₱45.2021 Sep 2026 | ₱46.31 | +1.95%from ₱46.10 |
| 90 days 64 rates | ₱47.1013 Oct 2026 | ₱41.4020 Jul 2026 | ₱44.76 | +12.71%from ₱41.70 |
| 365 days 245 rates | ₱47.1013 Oct 2026 | ₱39.3019 Jun 2026 | ₱41.59 | +14.91%from ₱40.90 |
Pesos per 1,000 KRW. Change = (today − start of period) ÷ start of period. One value per BSP banking day from the BSP daily peso cross-rate series and bulletins.
KRW and PHP amounts, both ways
KRW to PHP
| 1,000 KRW | ₱47.03 |
|---|---|
| 5,000 KRW | ₱235.17 |
| 10,000 KRW | ₱470.35 |
| 50,000 KRW | ₱2,351.73 |
| 100,000 KRW | ₱4,703.46 |
| 500,000 KRW | ₱23,517.28 |
| 1,000,000 KRW | ₱47,034.55 |
| 5,000,000 KRW | ₱235,172.75 |
Each row: amount × ₱0.0470, the 16 Oct 2026 rate, before fees.
PHP to KRW
| ₱100 | 2,126.10 KRW |
|---|---|
| ₱500 | 10,630.48 KRW |
| ₱1,000 | 21,260.97 KRW |
| ₱5,000 | 106,304.83 KRW |
| ₱10,000 | 212,609.67 KRW |
| ₱50,000 | 1,063,048.33 KRW |
Each row: pesos ÷ ₱0.0470, before fees. Sending one of these amounts? Test the pesos promised in the quote checker.
Receiving KRW transfers in the Philippines
Cash remittances from South Korea reached US$870 million in 2025 (BSP, preliminary), and the DMW deployed 38,390 Filipino workers there that year (DMW 2025 deployment).
Won sent to the Philippines are normally converted by the sending firm and paid out in pesos: into a bank account, an e-wallet such as GCash or Maya, or as cash at a remittance agent. Ask for the peso amount before you send, because that figure already includes the firm's rate.
Neither BPI nor Metrobank posts a board rate for South Korean won notes, so ask the sender to have the money paid out in pesos rather than carry the cash home. Find a registered office near you on the remittance centres by province page, compare e-wallet cash-in and cash-out fees, and check the InstaPay and PESONet fee before moving the pesos to your bank.
How Philippine tax treats KRW you receive
- Money family abroad sends you is not part of your gross income: gifts are excluded under NIRC Sec. 32(B)(3), and an OFW's pay earned abroad is not taxed here under Sec. 23(C). Money paid to you for work is income in any currency. More: are remittances taxable?
- OFW remittances are exempt from documentary stamp tax when the recipient shows the OFW's OEC or OWWA certificate (RA 8042 Sec. 35 as amended by RA 10022). More: documentary stamp tax.
- Kept in a foreign currency deposit, the interest of a resident is taxed at a 20% final tax since 1 July 2025 (RA 12214, CMEPA). More: final tax.
- A business converts KRW amounts at the BSP rate on the transaction day, is taxed on forex gains only when realized, and loses other rates in an audit unless it filed the sworn statement (BIR RMC 12-2024). More: income tax.
KRW to PHP questions
How much is 2,000,000 KRW in Philippine pesos?
2,000,000 × ₱0.0470 = ₱94,069.10 at the 16 Oct 2026 rate, and 10,000,000 KRW is ₱470,345.50. What arrives is lower by the provider's fee and rate margin.
What is the highest KRW to PHP rate?
In the three years to 16 Oct 2026 the highest daily value was ₱0.0471 on 13 Oct 2026 and the lowest ₱0.0390 on 21 Mar 2025. By monthly average, the highest since January 1980 was ₱0.0557 in June 2006. Source: BSP daily peso cross rates.
Will the South Korean won go up against the peso?
Nobody can know that in advance. It moves with interest-rate decisions of the BSP and the central bank of South Korea, trade and remittance flows, and global risk appetite. Over the last year it ranged from ₱0.0393 (19 Jun 2026) to ₱0.0471 (13 Oct 2026).
Why does my bank or app give less than ₱0.0470?
This is a reference rate with no spread; anyone buying won from you pays less and may add a fee. Neither BPI nor Metrobank posts a board rate for the South Korean won (boards as of 16 Oct 2026, 4:26 PM and 16 Oct 2026, 9:33 AM), so ask the sender to have the money paid out in pesos and compare the pesos that arrive.
Which rate applies on a weekend or holiday?
The Friday 16 Oct 2026 bulletin, generated by the BSP at 08:38 AM, stays the reference until the next one, Monday 19 Oct 2026 at the earliest (later if that is a holiday). Banks and apps keep setting their own rates in between. Source: BSP exchange rate page.
Does the sender owe tax on a large gift from South Korea?
Possibly. Donor's tax is 6% of a donor's total gifts above ₱250,000 in a calendar year (NIRC Sec. 99 as amended by RA 10963), and the sender owes it, not the recipient. At the 16 Oct 2026 rate, ₱250,000 is 5,315,241.67 KRW. Source: RA 10963 (TRAIN), Sec. 99.