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The yang (양/兩) was the currency of Korea between 1892 and 1902. 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 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 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 10 jeon (전/錢), 100 bun (분/分) and 5 yang = 1 hwan (환/圜).
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Etymology
The word yang is a cognate of the Chinese "tael" (pronounced "liǎng" in Chinese). 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 Tael can refer to any one of several Weight measures of the Far East. Fun (pronounced "pun" but spelt with an "f" on the coins), is also a cognate of a Chinese word, fen, which is equal to 1/100 yuan, whilst hwan is a cognate of yuan itself.
History
Just before the yang was introduced, a small number of coins denominated in hwan (환/圜) and mun (문/文) were minted (1 won = 1000 mun). The history of Korean currencies dates back as far as 996, during the Goryeo Dynasty when the first Iron Coins were minted. It is unclear whether these coins circulated. The 1 won and 5 yang coins were equal in size, containing 416 grains of silver. However, before 1892, the main currency of Korea was the mun, a denomination based on the Chinese cash (Chinese: 文 wén). The mun was introduced as the main currency of Korea in 1633 and stayed in use until 1892
The mintage and circulation of modern currency began during the last years of the old Korean Empire as a result of contact with the West. The Korean Empire was a former small empire of Korea that lasted from the Gwangmu Restoration of 1897 until Japan 's annexation of Korea in 1910 Around the time of the trial adoption of the gold standard in 1901, gold and silver coins were in circulation along with some Japanese bank notes.
The yang was replaced by the won at a rate of 1 won = 5 yang. 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.
Coins
Coins were minted in the denominations of 1 fun, 5 fun, ¼ yang, 1 yang, 5 yang and 1 whan. The coins all carried the title of the state, "Dae Joseon" (Great Korea; 대조선; 大朝鮮), then just "Joseon" (Korea; 조선; 朝鮮) and then Daehan (대한; 大韓). South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː Until 1897, the dynastic dating system was used, where the founding year of the Joseon Dynasty, 1392, was year 1. Starting in 1897, the regnal year of the monarch was used instead.
| Korean Won Coins | |
|---|---|
| Denomination | Composition |
| 1 fun | Brass |
| 5 fun | Copper |
| ¼ yang | Initially cupronickel and then copper around silver |
| 1 yang | 800‰ silver |
| 5 yang | 900‰ silver |
| 1 whan (=5 yang) | |
Banknotes
A series was printed by the Treasury Department but never issued. Brass is any Alloy of Copper and Zinc; the proportions of zinc and copper can be varied to create a range of brasses with varying properties Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. Copper (ˈkɒpɚ is a Chemical element with the symbol Cu (cuprum and Atomic number 29 Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen The denominations were 5 yang, 10 yang, 20 yang, and 50 yang.
References
- Schuler, Kurt. Tables of Modern Monetary History: Asia.
- 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.
- Pick, Albert (1996). Standard Catalog of World Paper Money: General Issues to 1960, Colin R. The Standard Catalog of World Paper Money is a very well-known catalogue of Banknotes that is published by Krause Publications in three volumes Bruce II and Neil Shafer (editors), 8th ed. , Krause Publications. ISBN 0-87341-469-1.
| Preceded by: Korean mun and Chinese currencies to some extent Reason: currency reform |
Currency of Korea 1892 – 1902 |
Succeeded by: Korean won and Korean yen Reason: heavier influence by Japan Ratio: 1 yen = 1 won = 5 yang |