Economy of North Korea.
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Some of the notes' most notable features were distinguishable marks for the blind under the watermark and the addition of machine-readable language in preparation for mechanization of cash handling. They were also printed on better-quality cotton pulp to reduce the production costs by extending their circulation life.
The latest version of the 5, and 10,won notes are easily identifiable by the copyright information inscribed under the watermark: The plates for the 5,won notes were produced in Japan, while the ones for the 1, and 10,won notes were produced by the Korea Minting and Security Printing Corporation. They were all printed in intaglio. With the release of a new set of notes, no plan has yet been made to withdraw these notes from circulation.
Later in , the 1, and 10,won notes were introduced. On June 23, , the Bank of Korea released the 50,won note. The obverse bears a portrait of Shin Saimdang , a prominent 16th-century artist, calligrapher, and mother of Korean scholar Yulgok , also known as Yi I, who is on the 5,won note.
This note is the first Korean banknote to feature the portrait of a woman. New ,won notes were also announced, but their release was later cancelled due to the controversy over the banknote's planned image, featuring the Daedongyeojido map, and not including the disputed Dokdo islands.
The banknotes include over 10 security features in each denomination. The 50,won note has 22 security features, the 10,won note 21, the 5,won note 17, the 2,won note 10 and the 1,won note Many modern security features that can be also found in euros , pounds , Canadian dollars , and Japanese yen are included in the banknotes.
Some security features inserted in won notes are:. This technique is being exported to Europe, North America, etc. As the South Korean economy is evolving through the use of electronic payments, coins of the South Korean won are becoming less used by consumers. The Bank of Korea began a trial which would result in the total cessation of the production of coins of the South Korean won. The Bank of Korea is the only institution in South Korea with the right to print banknotes and mint coins.
When delivered, they are deposited inside the bank's vault, ready to be distributed to commercial banks when requested. Every year, around Seollal and Chuseok , two major Korean holidays, the Bank of Korea distributes large amounts of its currency to most of the commercial banks in South Korea, which are then given to their customers upon request.
From Wikipedia, the free encyclopedia. Official currency of the Republic of Korea. Etymology of the Korean currencies. South Korean won — South Korea portal Numismatics portal. Archived from the original on Retrieved 8 January Currency Boards and Dollarization. Archived from the original hwp on March 12, Archived from the original on January 15, Archived from the original on March 21, Archived from the original on 16 October Archived from the original on 18 June Archived from the original on September 9, Archived from the original PDF on 14 June Archived from the original on March 1, The Bank of Korea www.
Bruce II senior editor 31st ed. Standard Catalog of World Paper Money: Modern Issues Date 11th ed. General Issues to Bruce II and Neil Shafer editors 8th ed. Economy of South Korea. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract.
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