History
The won was introduced in 1902, replacing the yang at a rate of 1 won = 5 yang. In 1909, the Bank of Korea (한국은행; 韓國銀行) was founded in Seoul as a central bank and began issuing currency of a modern type. The won was equivalent to the Japanese yen and was replaced by the Korean yen in 1910 during the Colonial Era. In 1910, the Bank of Korea was renamed the Bank of Joseon (조선은행; 朝鮮銀行), which issued notes denominated in yen and sen.
Read more about this topic: Korean Won
Famous quotes containing the word history:
“Humankind has understood history as a series of battles because, to this day, it regards conflict as the central facet of life.”
—Anton Pavlovich Chekhov (1860–1904)
“We are told that men protect us; that they are generous, even chivalric in their protection. Gentlemen, if your protectors were women, and they took all your property and your children, and paid you half as much for your work, though as well or better done than your own, would you think much of the chivalry which permitted you to sit in street-cars and picked up your pocket- handkerchief?”
—Mary B. Clay, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 3, by Susan B. Anthony and Ida Husted Harper (1902)
“I believe that history has shape, order, and meaning; that exceptional men, as much as economic forces, produce change; and that passé abstractions like beauty, nobility, and greatness have a shifting but continuing validity.”
—Camille Paglia (b. 1947)