The 500 won coin (Korean: 오백원 동전; Hanja: 五百圓 銅錢; RR: Obaegwon dongjeon; MR: Obaegwŏn tongjŏn) is one of the South Korean won coins issued by the Bank of Korea, the central bank of South Korea.

On the obverse is a Red-crowned crane, one of the migratory birds that lives in South Korea, and the inscription "오백원" (Obaegwon), which means 500 won.

The Composition of the coin is Cupronickel (75% copper, 25% nickel), weighs 7.70g, has a diameter of 26.50mm and a thickness of 2.00mm, with 120 reeds carved on the edge.

Instead, the Bank of Korea has collected large amounts of 500 won coins from various regions of South Korea, while producing only about 8,000 500 won coins for gift sets.

[9][10][11] Due to these incidents, various regions of Japan have banned the use of 500 yen coins in vending machines for sometime,[12][13] and in 1999, the Japanese government decided to stop issuing cupronickel 500 yen coins.