1.Ancient Currencies of Korea

From the New Stone Age up until the Three Kingdoms Period, daily necessities such as rice, or objects that were easy to keep and transport like shells, animal bones, stones, etc. were used as currency. During the time of the Three Han States, when the Iron Age culture spread throughout the Korean peninsula, iron was circulated as currency, while during the later Three Kingdoms Period, as the markets became active and transactions increased, precious metals such as gold and silver came to be used. During the Goryeo Dynasty, iron coins appeared in Korea for the first time. They were round with a square hole in the middle, reflecting an oriental view of the world (i.e. the sky being round and the earth square). The majority of coins issued up until the time of the Joseon Dynasty also had the same shape. For the purpose of transactions involving huge amounts of money, silver coins such as Swaeeun and Soeunbyeong were also issued.

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• Miniature Silver Bottle

2.Currencies of the Joseon Dynasty and the Modern Period

Between 1402 and 1423 the Jeohwa, Korea's first note, and the Joseontongbo, the Joseon Dynasty's first coin, were issued. In 1464 issuance of the Jeonpye, which could also be used as an arrowhead in an emergency, was planned. These currencies didn't gain the people's confidence, however, and rice and hemp cloth still remained in use. In 1678, the Sangpyeongtongbo was issued and distributed all over the country, and remained in circulation for over two centuries. After the opening of Korea’s ports in 1876, foreign currencies such as China's Majeeun (sycee) were used, especially in the treaty ports including Wonsan, Incheon and Busan. In 1882 the Daedongeunjeon, the nation's first modern silver coin, was issued for trading purposes. In 1906 Korea's first gold coins were issued, but they were not circulated all over the country as there were an insufficient number of them produced. Meanwhile the '(old) Bank of Korea,' as the first central bank of Korea, issued notes worth 1 won in 1910, followed by 5-won and 10-won notes in the subsequent year.

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• Sangpyeong Tongbo

3.Currencies during the Japanese Occupation Period and the Republic of Korea

After Japan's annexation of Korea in 1910, Japan reorganized the (old) Bank of Korea into the Bank of Joseon. The Bank of Joseon modified the designs of the notes of the Bank of Japan partially, and until the time of Korea's liberation issued 26 kinds of currency, including the 100-won note, the first note of the Bank of Joseon, in 1914. After national liberation the Bank of Joseon continued to play the role of the central bank at first, under the ordinances of the US Military Government, and issued 13 kinds of currency including the Eul-100-won note in 1945. One month after the establishment of the Bank of Korea in June 1950, and as the Korean War broke out, the Bank of Korea issued its first 100-won and 1000-won notes in Daegu, where the bank had taken refuge at first. Subsequently, after the end of the war in 1953, as a means of settling the rampant postwar inflation the Bank issued the 'Hwan' currency, with one hwan equivalent to 100 won. Then in 1962 it reintroduced the 'Won,' with one won taking the place of 10 hwan, and this second series of Korean won has been in circulation ever since.

4.National Commemorative Coins

Commemorative currencies, mostly issued in the form of coins, are designed to celebrate great national events or to commemorate the achievements of great historical or respected public figures. The first commemorative coins issued by Korea were to celebrate the Five Millennia of Korean History on August 15, 1970, and were manufactured and issued abroad. On August 14, 1975, for the 30th Anniversary of Korean Liberation, commemorative coins were manufactured and issued for the first time inside Korea. Recently, a 2000-won commemorative note celebrating the 2018 PyeongChang Winter Olympics was issued, marking the first time it was released as a note type.

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• The 50th anniversary of the republic of Korea celebration coin

5.Foreign Commemorative Coins

Most commemorative currencies are manufactured in the form of coins, using precious materials such as gold and silver, but other special materials such as acrylic are also sometimes used and the sizes and shapes of these coins may vary. While these types of commemorative coins usually feature beautiful and highly artistic designs, they are rarely found in circulation.

Movies, culture, and comics are also major themes for commemorative coins. Star Wars, Frozen, and Disney characters have been made into commemorative coins. In addition, famous paintings such as Van Gogh's Starry Night and Sunflowers have also been used as coin designs. Fairy tales like The Little Prince and The Three Little Pigs have also served as themes for coins. Moreover, some countries issue commemorative coins featuring Korean figures or architecture, such as Namdaemun (the Great South Gate), figure skater Yuna Kim, or historical events like the Korean War.

6.Currencies from around the world

Renowned personages, animals and structures are widely used as subjects of currency design around the world. Among these the portrait of a national personage, the most frequently used subject, is particularly useful in that it not only represents the nation well but also helps to boost confidence in its currency. Identifying counterfeits is also easier with currencies that use portraits, as their facial expressions are difficult to replicate. Also often appearing in currency designs are a diverse variety of animals representing the uniqueness of nations’ natural environments, such as mammals, birds, reptiles and fish, and examples of cultural heritages and architectural structures used to promote nations’ histories.