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These were the first South Korean coins to display the date in the Gregorian calendar, earlier coins having used the Korean calendar. The 10 and 50 hwan coins were demonetized on March 22, 1975. [8] In 1968, as the intrinsic value of the brass 1 won coin far surpassed its face value, new aluminium 1 won coins were issued to replace them. As an ...
At the time of its introduction in 1945 the won was pegged to the Japanese yen at a rate of 1 won = 1 yen. In October of the same year the anchor currency was changed to the US dollar at a rate of 15 won = 1 dollar. Toward the end of the Korean War the won was devalued at 6000 won = 1 dollar. [1]
Korea 1907 20 gold Won Korea 1905 ½ Won silver coin Coins were minted in the denominations of 1 ⁄ 2 , 1, 5, 10 and 20 jeon, 1 ⁄ 2 , 5, 10 and 20 won. [ 3 ] The coins all carried the title of the "state", Daehan ( 대한 ; 大韓 ), [ 3 ] and the Korean era name , Gwangmu ( 광무 ; 光武 ) and then Yunghui ( 융희 ; 隆熙 ), whilst the ...
Korean won primarily refers to: South Korean won, the present currency of South Korea; 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 ...
A magnolia adorns the 1 won coin. [18] Initially struck in 2002, the coins were intended for use shortly after the dollar peg was removed from the currency. The 50 chon and 1 won coins were smaller than the previous designs, while the new 10 chon coin was the same size as the old.
The country then had to switch over to a new currency unit named "hwan" replacing won at 1 hwan = 100 won. 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.