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US dollar This infobox shows the latest status before this currency was rendered obsolete. The won ( Korean : 원 ) was the first South Korean currency and was in use from August 15, 1945, to February 15, 1953.
The Korean won, Chinese yuan and Japanese yen were all derived from the Spanish-American silver dollar, a coin widely used for international trade between Asia and the Americas from the 16th to 19th centuries. During the colonial era under the Japanese (1910–45), the won was replaced by the Korean yen which was at par with the Japanese yen.
Due to the devaluation of the first South Korean won (from 15 won to the U.S. dollar in 1945 to 6000 won to the dollar in 1953), the hwan was introduced in 1953 at the rate of 1 hwan = 100 won. The hwan was nominally subdivided into 100 jeon but the lowest denomination issued was 1 hwan.
SEOUL (Reuters) -The South Korean won dropped to its weakest level in 15 years on Thursday, weighed down by risk-averse sentiment after the U.S. Federal Reserve's cautious stance on more interest ...
Like South Korean won, this currency unit was also issued in banknotes initially but in 1959, coins denominated in hwan were also issued and were the first circulating coins in South Korea. Hwan had a peg with the US dollar but with time it also got devaluated. This was the reason for the reintroduction of won in 1962 as the official currency unit.
North Korean won, the present currency of North Korea; It can also refer to these historical currencies: Korean Empire won, 1900–1910 currency in the Korean Empire; Won of the Red Army Command, 1945–1947 currency in northern Korea under the Soviet Civil Administration; South Korean won (1945–1953) South Korean hwan, 1953–1962 currency
From 1978 on, the North Korean government maintained an iconic rate of 2.16 won to the US dollar (which is said to have been based upon Kim Jong Il's birthday, 16 February). [4] Over the decades, however, rampant inflation eroded the currency's value, and from 2001 the government abandoned the rate in favor of those closer to the black market's.
Uprising, Netflix’s new Korean action-war epic, spans decades as it follows the fraught friendship between Cheon-yeong (Broker’s Gang Dong-won), a nobi slave with a knack for swordsmanship ...