According to Time, the exchange rate of $1 equals about 1,447 won. The 45.6 billion won prize could still be life-changing for those vying for the money on the show.

As Season 2 of Squid Game was released Thursday, here’s a look at how much the 45.6 billion won prize is really worth.

How much is 45.6 billion won worth in U.S. dollars?

The 45.6 billion won prize equals about $31.5 million in U.S. dollars. However, according to the Korean Times, the Korean won reached a 15-year low in December 2024, hitting the 1,450 mark for the first time since 2009. After President Yoon Suk Yeol declared martial law on Dec. 3, the currency remained at 1,430.

The prize money in Season 2 remains the same as in Season 1 despite a three-year hiatus since the game show’s debut, and the cost of living expenses has increased in Korea, per Time. In 2021, the 45.6 billion won prize was equivalent to around $38.5 million when converted to USD.

What does 45.6 billion won get you in Korea?

There are significant differences between Korean won and U.S. dollars. According to Time, the average monthly salary in Korea is 3.9 million won (about $2,696), totaling 46.8 million won annually (around $32,347) before income tax.

In Korea, tenants pay a large deposit, often 50% to 70% of the property’s value, which is returned at the end of the lease, per Time. This system, known as the “jeonse” system, can require tenants to tie up a substantial amount of money for years.

Squid Game Season 2 details

Many viewers may have recently binge-watched the game show in eager anticipation of Gi-hun’s return in the new season.

Actor Lee Jung-jae explained all the obstacles Gi-hun faces as he competes for the prize money.

“The end of Season 2 is going to make people more curious about how Gi-hun will do in the game now that this traumatic event has happened to him,” he told Tudum, according to Netflix. “After what’s happened to his friend, can he still maintain his objective of saving the other people in the game?”