Korean yen

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The yen was the currency of Korea 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 at par, and the North Korean won.

[edit] Banknotes

From 1902-1910, banknotes were issued by Dai Ichi Ginko (First National Bank (of Japan), 株式會社第一銀行, Kabushiki Gaisha Daiichi Ginkō). Denominations included 10 sen, 20 sen, 50 sen, 1 yen, 5 yen, and 10 yen. The sen notes were vertical and resembled the Japanese sen notes of 1872 and the Japanese Military Yen at the turn of the century. These notes were redeemable in "Japanese Currency at any of its Branches in Corea" (sic).

In 1909, the Bank of Korea (韓國銀行, Han'guk Ŭnhaeng) was founded in Seoul as a central bank and began issuing currency of modern type. Bank of Korea notes were dated 1909 and issued in 1910 and 1911. After Korea lost her sovereignty to Japan in 1910, the Bank of Korea was renamed the Bank of Chosŏn (朝鮮銀行, Korean: Chosŏn Ŭnhaeng, Japanese: Chōsen Ginkō). The first Bank of Chosŏn note was dated 1911 and issued in 1914. 1 yen, 5 yen, 10 yen, and 100 yen were issued regularly, while there were occasionally some sen notes (5, 10, 20, 50 sen). 1000 yen was printed but never issued at the end of World War II. The earlier issues were redeemable "in Gold or Nippon Ginko Note". A similar phrase was written in Japanese on later issues.

[edit] See also

• Names of Korea
• Bank of Korea

[edit] References

• Kurt Schuler (2004-02-29). Tables of modern monetary history: Asia. Currency Boards and Dollarization.
• Albert Pick (1996). in Neil Shafer, George S. Cuhaj, Colin R. Bruce II (editors): Standard Catalog of World Paper Money: General Issues to 1960, 8th ed., Krause Publications. ISBN 0-87341-469-1. 

Preceded by: Korean yang Reason: heavier influence by Japan Ratio: 1 yen = 5 yang	Currency of Korea 1902 – 1945 Concurrent with: Korean won until 1910, when Japan completely annexed Korea	Succeeded by: North Korean (old) won Reason: end of World War II and Division of Korea
		Succeeded by: South Korean (old) won Reason: end of World War II and Division of Korea Ratio: at par

v • d • e Historical currencies of Korea
Mun 1633–1892 Yang 1892–1902 Won 1902–1910 Yen 1902–1945 N. old won 1947–1959 N. new won 1959–present S. old won 1945–1953 Hwan 1953–1962 S. new won 1962–present See also: Etymology of the Korean currencies · History of the Korean currencies