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The Korean People's won, more commonly known as the North Korean won (Symbol: ₩; Code: KPW; Korean: 조선 원) and sometimes known as the Democratic People's Republic of Korea won (Korean: 조선민주주의인민공화국 원), is the official currency of North Korea. It is subdivided into 100 chon.
In December 1945, the Pyongyang branch of the Bank of Chōsen created a temporary monetary office, known as the "calculation office". On 9 January 1946, the central bank of North Korea was created with use of all branches of the Bank of Chōsen on North Korean territory. [4]
Estimating gross national product in North Korea is a difficult task because of a lack of economic data [41] and the problem of choosing an appropriate rate of exchange for the North Korean won, the nonconvertible North Korean currency. The South Korean government's estimate placed North Korea's GNP in 1991 at US$22.9 billion, or US$1,038 per ...
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]
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
North Korea is “desperate for foreign currency,” said Hazel Smith, a professor at London’s SOAS University, who lived in North Korea for two years. “Not just for oil, but basic technology ...
A professor of Korean Studies at the University of Hamburg says the emotion is part of a cult of personality. Yvonne Schulz Zinda said, "The Kim rulers are exaggerated, almost godlike perceived."
Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1] ... North Korean won [62] KPW