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:
“Most events recorded in history are more remarkable than important, like eclipses of the sun and moon, by which all are attracted, but whose effects no one takes the trouble to calculate.”
—Henry David Thoreau (1817–1862)
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It resembled a mare shuffling on,
dragging its history like saddlebags,
nearing its tomb and the pitch of hell.”
—Adonis [Ali Ahmed Said] (b. 1930)
“As I am, so shall I associate, and so shall I act; Caesar’s history will paint out Caesar.”
—Ralph Waldo Emerson (1803–1882)