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The history of Korean currency dates back to around the 3rd century BC, when first coins in the form of knife coins, also known in Korean literature as "Myeongdojun(명도전,in chinese mingdaoqian,明刀錢, meaning Ming Knives)" originally belonging to the Chinese state of Yan but also was used in trade with Korean state Gojoseon; which were said to have been circulated. [1]
The old "won" was a cognate of the Chinese yuan and Japanese yen, ... Currency of South Korea 1945 – 1953 Succeeded by: South Korean hwan Reason: inflation
The language(s) of this currency do(es) not have a morphological plural distinction. Symbol: None, the currency was referred to by using the hanja character 圓: Denominations; Subunit 1 ⁄ 100: jeon (전/錢) Banknotes: 5, 10, 20, 50 jeon 1, 5, 10, 100, 500, 1000 won: Coins: Japanese 1 sen: Demographics; User(s) Southern Korea under U.S ...
However, before 1892, the main currency of Korea was the mun, a denomination based on the Chinese cash (Chinese: 文; pinyin: Wén). [2] The mintage and circulation of modern currency began during the last years of the Joseon dynasty as a result of contact with the West, using equipment to produce machine-struck coins purchased from Germany in ...
The Korean government did not issue any banknotes itself during this era. In the year 1893 the government established an exchange office (Tai Whan Shou) which was to withdraw the old Korean mun coinage and exchange it for the new Korean yang currency. [12]
The Korean won (/ w ɒ n / won [1] Korean: 원; Hanja: 圓, Korean pronunciation:) or Korean Empire won (대한제국 원), was the official currency of the Korean Empire between 1900 and 1910. It was subdivided into 100 jeon ( / dʒ ʌ n / jun ; [ 2 ] 전 ; 錢 , Korean pronunciation: [tɕʌn] ).
The South Korean currency fell to as low as 1,443.40 won per dollar, the lowest since October 2022. It was last down 1.9% at 1,430.72.
The yen was the currency of Korea, Empire of Japan between 1910 and 1945. It was equivalent to the Japanese yen and consisted of Japanese currency and banknotes issued specifically for Korea. The yen was subdivided into 100 sen. It replaced the Korean won at par and was replaced by the South Korean won and the North Korean won at par.
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