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
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“What has history to do with me? Mine is the first and only world! I want to report how I find the world. What others have told me about the world is a very small and incidental part of my experience. I have to judge the world, to measure things.”
—Ludwig Wittgenstein (1889–1951)
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“... the history of the race, from infancy through its stages of barbarism, heathenism, civilization, and Christianity, is a process of suffering, as the lower principles of humanity are gradually subjected to the higher.”
—Catherine E. Beecher (1800–1878)