- Korean won
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- This page provides the history of the currency prior to 1945. For the later South and North Korean currencies, see South Korean won and North Korean won. For the former online gaming service, see World Opponent Network.
The won (圓) was the currency of Korea between 1902 and 1910. It was subdivided into 100 chon (錢).
Korean won Hangul 원, 전 Hanja 圓, 錢 Revised Romanization won, jeon McCune–Reischauer wŏn, chŏn Contents
Etymology
Main article: Etymology of the Korean currenciesWon is a cognate of the Chinese yuan and Japanese yen.
History
Main article: History of the Korean currenciesThe won was introduced in 1902, replacing the yang at a rate of 1 won = 5 yang. In 1909, the Bank of Korea (한국은행; 韓國銀行) was founded in Seoul as a central bank and began issuing currency of a modern type. The won was equivalent to the Japanese yen and was replaced by the Korean yen in 1910 during the Colonial Era. In 1910, the Bank of Korea was renamed the Bank of Joseon (조선은행; 朝鮮銀行), which issued notes denominated in yen and sen.
Coins
Coins were minted in the denominations of ½, 1, 5, 10 and 20 chon, ½, 5, 10 and 20 won. The coins all carried the title of the "state", Daehan (대한; 大韓), and the Korean era name, Gwangmu (광무; 光武) and then Yunghui (융희;隆熙), whilst the specifications were equivalent to the coins of the Japanese yen.
Korean Won Coins Denomination Composition ½ chon Bronze 1 chon 5 chon Cupronickel 10 chon 800‰ silver 20 chon ½ won 5 won 900‰ gold 10 won 20 won Banknotes
No banknotes were issued denominated in won. However, Korean yen notes were issued by Dai Ichi Ginko (First National Bank (of Japan), 주식회사제일은행, 株式會社第一銀行).
See also
References
- Schuler, Kurt. "Tables of Modern Monetary History: Asia". http://www.dollarization.org/asia.htm. Retrieved 2004-02-29.
- Krause, Chester L. and Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901–Present. Colin R. Bruce II (senior editor) (31st ed. ed.). Krause Publications. ISBN 0873495934.
- Krause, Chester L. and Clifford Mishler (2004). Standard Catalog of World Coins: 1801–1900. Colin R. Bruce II (senior editor) (4th ed. ed.). Krause Publications. ISBN 0873497988.
Preceded by:
Korean yang
Reason: heavier influence by Japan
Ratio: 1 won = 5 yangCurrency of Korea
1902 – 1910
Concurrent with: Korean yenSucceeded by:
Korean yen
Reason: complete annexation by Japan
Ratio: at parHistorical currencies of Korea Mun
1633–1892Yang
1892–1902Won
1902–1910Yen
1902–1945North Korean old won
1947–1959North Korean new won
1959-2009North Korean third won
since 2009South Korean old won
1945–1953South Korean hwan
1953–1962South Korean new won
since 1962Categories:- Currencies of Korea
- Modern obsolete currencies
- Joseon Dynasty
- Currency signs
- 1902 establishments in Korea
- 1910 disestablishments
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