first currency of Korea appeared almost a thousand years ago.The subsequent history of money as well as the history of the country itself, evolved very difficult.Names of banknotes are constantly changing because Korea won more powerful neighbors - China and Japan, and in a steady turnover of money could not enter until the 19th century.Koreans have long been recognized only barter, measuring the cost of goods cloth or rice.If the planned transaction is particularly large, the calculation of silver bullion.
Currency Korea dates back since 998 years - residents then took over the experience of neighboring China and began to cast coins from a special copper alloy.Each coin weighing about three grams and cost expended material, respectively, that is very little.In the middle of each square hole we made money, and strung on a thread their capital.Sometimes that such bundles weighing several kilograms.The coins depict only characters for which it was possible to understand where and what this ruler of the Korean currency was put into circulation.
But this first attempt to establish a commodity-money circulation in the country ended in failure, and soon the population returned to the familiar and reliable barter.
following currencies Korea appeared only in 1633.This time everything went smoothly.Gradually citizens accustomed to using money signs in the late 19th century coins ceased to be cast from copper and strung on a thread, and began to mint the usual way.At the same time, first came into circulation a silver coin with the Korean ornaments.
Yet monetary system still could not resist.With each new ruler issued new money with new names and images.They were like at different times in the Chinese, Japanese, Mexican and even coins.At the beginning of the 20th century were generally released money eagle, is very similar to the Russian.
In 1910, the Japanese occupied the country, so the treatment has entered the yen - the Japanese currency.After World War II, in 1948, Korea regained its independence, but it was divided into two states - South and North.
currency in South Korea, was first published in 1950, and it was called "Hwang."On bills he was depicted President Syngman Rhee, and in 1953 appeared on banknotes inscriptions in English and Korean.Soon
country suffered high inflation, Hwang virtually worthless, and from them it was decided to refuse.In 1962 he was a monetary reform, and entered into circulation new banknotes - Won, the inscription on which only began to be applied in their native Korean.
«Won" - the traditional name of the Korean currency, which comes from the Chinese character "money" - as well as the name of the Japanese yen.In fact, the "yen" and "Won" - the same word, which differ only in pronunciation.
Exchange Hwang Won occurred at a rate of 10 = 1 Hwang Won.Korea's new currency was pegged to US dollar exchange rate: $ 1 = 125 won.
But by the early '80s again was the depreciation of money, and 1 US dollar became worth 580 won.In 1997, the country's leadership decided to move to a floating exchange rate, without the rigid peg to the dollar.
modern South Korean currency is issued in denominations of 1,000 won, 5,000, 10,000, and finally 50,000 won.On banknotes depict famous philosophers, national heroes, national monuments of architecture - in short, everything that makes up the cultural heritage of the Korean people.
for 1 US dollar in 1090 now give out.But despite such a significant devaluation of the currency, the authorities are in no hurry to carry out denomination, so even for everyday purchases Koreans have to be considered won millions.But they found a way out of this situation, and increasingly conduct payments through bank cards or checks.
