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Bank of Korea Banknotes after the Third Currency Reform
Enlarged view

[Bank of Korea Banknotes after the Third Currency Reform ]

Title
Bank of Korea Banknotes after the Third Currency Reform
Location
Currency Gallery

Explanation of Work

On June 10, 1962, the third set of currency reforms were carried out, banning the circulation of hwan notes and encouraging the use of new won notes devalued at a 10:1 ratio. As a result, notes in six denominations (500-won, 100-won, 50-won, 10-won, 5-won, and 1-won) were newly printed at Thomas De La Rue, a British printing company, and issued in Korea. Namdaemun Gate was used as the major design theme for the 500-won note, Dongnimmun Gate for the 100-won note, and Chongsukjung in Haegeumgang Island for the 50-won note. The emblem of Bank of Korea was printed on the lower denomination notes. After the Korea Mint enhanced its printing technologies, the UK-made banknotes were replaced by new Korean-made notes.

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