- 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. The won (ko 원 ( sign: ₩; code: KRW) is the currency of South Korea. The wŏn ( sign: ₩; code: KPW) is the currency of North Korea. For the former online gaming service, see World Opponent Network. World Opponent Network or WON was an online gaming service created by Sierra Games as the Sierra Internet Gaming
The won (圓) was the currency of Korea between 1902 and 1910. Korea is a geographic area composed of two sovereign countries a civilization and a former state situated on the Korean Peninsula in East Asia. It was subdivided into 100 chon (錢).
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Contents |
Etymology
Won is a cognate of the Chinese yuan and Japanese yen. Hanja is the Korean name for Chinese characters. More specifically it refers to those Chinese characters borrowed from Chinese and incorporated The Revised Romanization of Korean is the official Korean language Romanization system in South Korea. McCune-Reischauer romanization is one of the two most widely used Korean language Romanization systems along with the Revised Romanization of Korean, which Won is the Currency of both North and South Korea. Won is a Cognate of the Chinese currency unit yuan and the Japanese Cognates in Linguistics are words that have a common origin They may occur within a language such as shirt and skirt as two English words descended from
History
The won was introduced in 1902, replacing the yang at a rate of 1 won = 5 yang. The history of Korean currencies dates back as far as 996, during the Goryeo Dynasty when the first Iron Coins were minted. The yang (양/兩 was the currency of Korea between 1892 and 1902 In 1909, the Bank of Korea (韓國銀行) was founded in Seoul as a central bank and began issuing currency of a modern type. Seoul ( soʊl is the Capital and largest City of South Korea. A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The won was equivalent to the Japanese yen and was replaced by the Japanese currency and the Korean yen in 1910 when Korea lost its sovereignty to Japan. The yen was the currency of Korea between 1910 and 1945 It was equivalent to the Japanese yen and consisted of Japanese currency and banknotes issued specifically Korea under Japanese rule refers to the period between 1910 and 1945 when Korea was forcibly annexed by the Japanese Empire. In 1910, the Bank of Korea was renamed the Bank of Joseon (朝鮮銀行), which issued notes denominated in yen and sen. The yen was the currency of Korea between 1910 and 1945 It was equivalent to the Japanese yen and consisted of Japanese currency and banknotes issued specifically
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. South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː Korean Era names were used during the period of Silla, Goguryeo, Balhae, Taebong, Goryeo, Joseon, and Sunjong, the Yunghui Emperor ( March 25, 1874 – April 24, 1926) was the last emperor of the Joseon Dynasty and Korean
| 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. Bronze is any of a broad range of Copper alloys, usually with Tin as the main additive but sometimes with other elements such as Phosphorus Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen Gold (ˈɡoʊld is a Chemical element with the symbol Au (from its Latin name aurum) and Atomic number 79 However, Korean yen notes were issued by Dai Ichi Ginko (First National Bank (of Japan), 株式會社第一銀行). The yen was the currency of Korea between 1910 and 1945 It was equivalent to the Japanese yen and consisted of Japanese currency and banknotes issued specifically
See also
References
- Schuler, Kurt. There are various names of Korea in use today derived from ancient kingdoms and dynasties The Economy of South Korea is the third-largest in Asia and the 13th-largest in the world by GDP ( PPP) as of The Economy of North Korea is a centrally planned economy. North Korea's economy remains one of the world's last centrally planned systems Tables of Modern Monetary History: Asia. Retrieved on 2004-02-29. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Leap years Although the modern calendar counts a year as 365 days a complete revolution around the sun takes approximately 365 days and 6 hours
- Krause, Chester L. and Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901-Present, Colin R. The Standard Catalog of World Coins is a series of numismatic Catalogs commonly known as the Krause catalogs in the Numismatic hobby Bruce II (senior editor), 31st ed. , Krause Publications. ISBN 0-87349-593-4.
- Krause, Chester L. and Clifford Mishler (2004). Standard Catalog of World Coins: 1801-1900, Colin R. The Standard Catalog of World Coins is a series of numismatic Catalogs commonly known as the Krause catalogs in the Numismatic hobby Bruce II (senior editor), 4th ed. , Krause Publications. ISBN 0-87349-798-8.
| Preceded by: Korean yang Reason: heavier influence by Japan Ratio: 1 won = 5 yang |
Currency of Korea 1902 – 1910 Concurrent with: Korean yen |
Succeeded by: Korean yen Reason: complete annexation by Japan Ratio: at par |
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