What was the Korean yen and during what period was it used?

The Korean yen served as the official currency in Korea during the period of Japanese rule, specifically from 1910 to 1945. It was equivalent in value to the Japanese yen.

How did the Korean yen relate to the Japanese yen in terms of value and currency?

The Korean yen was equivalent to the Japanese yen, meaning they held the same value. The currency system in colonial Korea included both Japanese currency and banknotes specifically issued for Korea.

What were the subdivisions of the Korean yen?

The Korean yen was divided into smaller units. One yen was equivalent to 100 sen, and further subdivisions included sen being divided into Rin (1/1000 of a yen) and Rin into Mō (1/10000 of a yen).

Which banks were responsible for issuing banknotes denominated in Korean yen?

Initially, from 1902 to 1910, banknotes were issued by the Dai-Ichi Bank. Later, the Bank of Korea, founded in 1909, began issuing its own notes, and after Korea's annexation by Japan in 1910, this institution was renamed the Bank of Chōsen, which continued to issue currency.

What were the denominations of banknotes issued by the Dai-Ichi Bank for circulation in Korea?

The Dai-Ichi Bank issued banknotes in denominations of 10 sen, 20 sen, 50 sen, 1 yen, 5 yen, and 10 yen. These notes were redeemable in Japanese currency at the bank's branches in Korea.

How did the sen banknotes issued by Dai-Ichi Bank compare to contemporary Japanese sen notes?

The sen notes issued by Dai-Ichi Bank were described as vertical in orientation and bore a resemblance to the Japanese sen notes of 1872 and the Japanese military yen circulating around the turn of the century.

What was the role of the Bank of Korea in issuing currency before the formal establishment of the Bank of Chōsen?

The Bank of Korea was founded in Seoul in 1909 as a central bank. It began issuing its own banknotes, which were redeemable in gold or Bank of Japan notes, and its reserves primarily consisted of Bank of Japan notes and commercial paper.

How were the banknotes issued by the Bank of Korea modified from the earlier Dai-Ichi Bank notes?

The Bank of Korea's banknotes were only slightly altered from the Dai-Ichi Bank notes to ensure a smooth transition. The primary changes included inserting the name of the Bank of Korea, replacing the Dai-Ichi Bank's emblem with the royal plum crest of Korea, and changing the color of the reverse side of the 1 yen banknotes.

What happened to the Bank of Korea after Korea lost sovereignty to Japan in 1910?

Following Japan's annexation of Korea in 1910, the Bank of Korea was renamed the Bank of Chōsen. This new entity continued the issuance of currency.

What were the typical denominations of banknotes regularly issued by the Bank of Chōsen?

The Bank of Chōsen regularly issued banknotes in denominations of 1 yen, 5 yen, 10 yen, and 100 yen. They also occasionally issued sen notes, including 5, 10, 20, and 50 sen denominations.

What was the significance of the "Gold certificate" designation on some Korean yen banknotes?

The designation "Gold certificate" on banknotes like the 1, 5, 10, and 100 yen notes issued in 1911 by the Bank of Chōsen indicated that these notes were backed by or redeemable in gold, reflecting a connection to the gold standard.

What motifs were featured on the obverse side of the 1911 Bank of Chōsen "Gold certificate" banknotes?

The 1 yen, 5 yen, and 10 yen banknotes from 1911 featured Jurōjin on their obverse side. The 100 yen note from the same year depicted Daikokuten on its obverse.

Were there any Korean yen banknotes printed but never officially issued?

Yes, a 1000 yen banknote was printed by the Bank of Chōsen, intended for issuance at the end of World War II, but it was never released into circulation.

What was the stated redeemability of the earlier Bank of Chōsen notes?

The earlier issues of banknotes by the Bank of Chōsen were redeemable in "Gold or Nippon Ginko Note," indicating their backing by gold or the currency of the Bank of Japan. A similar phrase was later written in Japanese on subsequent issues.

What were the denominations of sen banknotes issued by the Bank of Chōsen in 1916?

In 1916, the Bank of Chōsen issued sen banknotes in denominations of 5 sen, 10 sen, 20 sen, and 50 sen. The 5 sen note from this year is noted as "Stamp currency."

What were the obverse and reverse motifs for the 1916 Bank of Chōsen sen banknotes?

The 1916 sen banknotes, specifically the 10 sen, 20 sen, and 50 sen notes, had unspecified obverse motifs in the provided data. The reverse motif for the 10 sen note was described as "Ornamental."

What denominations of sen banknotes did the Bank of Chōsen issue in 1919?

In 1919, the Bank of Chōsen issued sen banknotes in denominations of 10 sen, 20 sen, and 50 sen.

What denominations of yen banknotes were issued by the Bank of Chōsen in 1932?

In 1932, the Bank of Chōsen issued yen banknotes in denominations of 1 yen, 5 yen, and 10 yen.

What motif was consistently featured on the obverse of the 1, 5, and 10 yen banknotes issued by the Bank of Chōsen in 1932?

The Jurōjin motif was consistently featured on the obverse side of the 1 yen, 5 yen, and 10 yen banknotes issued by the Bank of Chōsen in 1932.

What denominations of sen banknotes were issued by the Bank of Chōsen in 1937?

In 1937, the Bank of Chōsen issued sen banknotes in denominations of 10 sen and 50 sen.

What denomination of yen banknote was issued by the Bank of Chōsen in 1938?

In 1938, the Bank of Chōsen issued a 100 yen banknote.

What motif was featured on the obverse of the 100 yen Bank of Chōsen banknote issued in 1938?

The Jurōjin motif was featured on the obverse of the 100 yen Bank of Chōsen banknote issued in 1938.

What yen denominations were issued by the Bank of Chōsen in 1944?

In 1944, the Bank of Chōsen issued 1 yen, 5 yen, 10 yen, and 100 yen banknotes.

What motif was consistently featured on the obverse of the 1, 5, and 10 yen banknotes issued by the Bank of Chōsen in 1944?

The Jurōjin motif was consistently featured on the obverse side of the 1 yen, 5 yen, and 10 yen banknotes issued by the Bank of Chōsen in 1944.

What yen denominations were issued by the Bank of Chōsen in 1945?

In 1945, the Bank of Chōsen issued 1 yen, 5 yen, and 100 yen banknotes.

What motif was featured on the obverse of the 1, 5, and 100 yen Bank of Chōsen banknotes issued in 1945?

The Jurōjin motif was featured on the obverse side of the 1 yen, 5 yen, and 100 yen Bank of Chōsen banknotes issued in 1945.

What was the status of the 1000 yen Bank of Chōsen banknote printed in 1945?

The 1000 yen banknote printed by the Bank of Chōsen in 1945 was never released into circulation.

What currency preceded the Korean yen in Korea, and what was the reason for the transition?

The Korean yang preceded the Korean yen. The transition occurred due to Japan's increasing influence and eventual annexation of Korea, leading to the adoption of the yen as the currency. The yen replaced the yang at a ratio of 1 yen to 5 yang.

What currencies succeeded the Korean yen after the end of World War II and the division of Korea?

Following World War II and the division of Korea, the Korean yen was succeeded by the North Korean won in the north and the South Korean won in the south, both at par.

What was the "Korean yen" referred to in the context of the "Historical currencies of Korea" navbox?

Within the "Historical currencies of Korea" navbox, the Korean yen is listed as the currency used from 1902 to 1945, succeeding the Korean yang and Korean Empire won, and being succeeded by the North and South Korean won after World War II.

What was the role of the Bank of Chōsen in the economy of colonial Korea?

The Bank of Chōsen, formerly the Bank of Korea, acted as the central bank during the period of Japanese rule. It was responsible for issuing currency, including the Korean yen banknotes, and managing financial matters within the colony.

What does the infobox indicate about the issuance of coins for the Korean yen?

The infobox explicitly states that no coins were issued for the Korean yen.

What is the Korean name and Japanese name for the Bank of Chōsen?

The Korean name for the Bank of Chōsen is Joseon Eunhaeng, and its Japanese name is Chōsen Ginkō.

What was the "short description" provided for the Korean yen article?

The short description for the Korean yen article stated it was the currency of colonial Korea from 1910 to 1945.

What does the "infobox-below" note suggest about the Korean yen currency?

The "infobox-below" note suggests that the infobox displays the status of the Korean yen currency up to the point it was rendered obsolete, indicating its discontinuation after 1945.

What was the purpose of the "stamp currency" mentioned for the 5 sen note in 1916?

The term "stamp currency" for the 5 sen note in 1916 suggests it might have been used in conjunction with or as a form of postage or revenue stamp, possibly for specific fiscal purposes.

What was the significance of the "Gold certificate" designation on the 1911 Bank of Chōsen banknotes?

The "Gold certificate" designation on the 1911 Bank of Chōsen banknotes signified that these notes were backed by or convertible into gold, linking them to the gold standard system.

What was the relationship between the Korean yen and the "Korean yang"?

The Korean yen replaced the Korean yang, with one yen being equivalent to five yang, reflecting a shift in currency and economic control during the period of Japanese influence and annexation.

What does the phrase "Japanese Currency at any of its Branches in Korea" on Dai-Ichi Bank notes imply?

This phrase on Dai-Ichi Bank notes implies that these notes were intended to be interchangeable with or redeemable for standard Japanese currency within Korea, facilitating the integration of the Korean economy into the Japanese financial system.

How did the Bank of Chōsen's banknotes differ from the Bank of Japan's notes in terms of their backing or redeemability?

While both were linked to the Japanese financial system, the Bank of Chōsen's notes were explicitly stated to be redeemable in "Gold or Nippon Ginko Note," suggesting a direct link to gold reserves or the central Japanese currency.

What was the "Korean Empire won" and when was it in use?

The Korean Empire won was the currency used in Korea from 1902 until 1910. It was replaced by the Korean yen at par.

What does the inclusion of the Korean yen in the "Korea under Japanese rule" navbox signify?

The inclusion of the Korean yen in the "Korea under Japanese rule" navbox highlights its role as a key economic instrument and symbol of Japanese colonial administration in Korea from 1910 to 1945.

What were the specific years of issue for the sen banknotes listed in the tables?

Sen banknotes were listed as being issued in 1916 (5, 10, 20, 50 sen) and 1919 (10, 20, 50 sen), and also in 1937 (10, 50 sen).

What were the specific years of issue for the yen banknotes listed in the tables?

Yen banknotes were listed as being issued in 1911 (1, 5, 10, 100 yen), 1932 (1, 5, 10 yen), 1938 (100 yen), 1944 (1, 5, 10, 100 yen), and 1945 (1, 5, 100 yen).

What was the purpose of the "More footnotes needed" template at the beginning of the article?

The "More footnotes needed" template indicates that the article, while containing general references, lacks sufficient inline citations to support its specific factual claims, suggesting a need for more detailed sourcing.

What is the significance of the symbol "円" (yen) appearing on the Korean yen currency?

The symbol "円" (yen) signifies that the currency was denominated in yen, directly linking it to the Japanese monetary system and its colonial administration over Korea.

What does the phrase "Korea, Empire of Japan" in the infobox demographic section imply about the Korean yen's usage?

This phrase implies that the Korean yen was used in Korea during the time it was administered as part of the Japanese Empire, highlighting its status as a currency within a colonial context.

What does the "Banknotes" section of the infobox list as available denominations?

The "Banknotes" section of the infobox lists 10 sen, 20 sen, 50 sen, and then yen denominations of 1, 5, 10, and 100 yen.

What was the "Korean Empire won" and when was it in use?

The Korean Empire won was the currency used in Korea from 1902 until 1910. It was replaced by the Korean yen at par.

What does the "Division of Korea" entry in the "Korea under Japanese rule" navbox signify in relation to the Korean yen?

The "Division of Korea" in 1945 marked the end of Japanese rule and the Korean yen's circulation, leading to the establishment of separate currencies in the North and South.

Korean Yen Wiki: Echoes of Empire: The Korean Yen's Monetary Legacy

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The Korean Yen

A Colonial Currency

The Korean yen (Korean: \uc870\uc120 \uc5d4) served as the official currency in Korea during the period of Japanese rule, spanning from 1910 to 1945. It was established as equivalent to the Japanese yen, effectively integrating Korea's monetary system with that of Japan.^[1]

Parity and Transition

The yen replaced the Korean Empire's previous currency, the Korean won, at a par rate. This transition marked a significant step in Japan's economic control over the Korean peninsula. Following the end of World War II and the subsequent division of Korea, the yen was ultimately succeeded by the North Korean won and the South Korean won, also at par.^[2]

Issuing Authority

Initially, banknotes were issued by the Dai-Ichi Bank from 1902. However, following the establishment of the Bank of Korea in 1909, this institution began issuing its own currency. After Korea's annexation by Japan in 1910, the Bank of Korea was renamed the Bank of Chosen (Korean: Joseon Eunhaeng), which continued to issue the yen-denominated banknotes until the end of the colonial period.^[2]

Denominations and Subdivisions

The Structure of the Yen

The Korean yen followed the standard Japanese yen structure, being subdivided into 100 sen. Each sen was further divisible into 10 rin, and then into 10 mō. This hierarchical system provided granular units for transactions.^[2]

Banknote Series

Banknotes were issued in various denominations throughout the period. Early issues included sen denominations (10, 20, 50 sen), while later and more prominent issues featured yen denominations such as 1 yen, 5 yen, 10 yen, and 100 yen. A 1000 yen note was printed but never officially issued.^[2]

Design Elements

The banknotes often featured allegorical representations or motifs. For instance, some early 1 yen notes depicted the Jurōjin, one of the Seven Lucky Gods in Japanese mythology, symbolizing longevity. The Bank of Chosen's notes also incorporated the royal plum crest of Korea, replacing the earlier star emblem used by the Dai-Ichi Bank.^[2]

Issuance and Evolution

From Dai-Ichi to Chosen

The initial issuance of banknotes for Korea was handled by the Dai-Ichi Bank, starting in 1902. These notes were redeemable in Japanese currency within Korea. Upon the establishment of the Bank of Korea in 1909, it began issuing its own banknotes, redeemable in gold or Bank of Japan notes. After the 1910 annexation, the Bank of Korea was reorganized and renamed the Bank of Chosen, continuing the issuance of yen notes with minor modifications to reduce confusion during the transition.^[2]

Key Issuance Years

Significant banknote series were issued in the following years, reflecting the evolving economic and political landscape:

1909-1911: Bank of Korea notes, later reissued by the Bank of Chosen.
1911-1914: First series issued by the Bank of Chosen.
1916-1919: Sen denominations were issued.
1932, 1937, 1938, 1944-1945: Various yen denominations were issued, reflecting wartime and post-war economic conditions.

These notes were generally redeemable in gold or Bank of Japan notes, underscoring the currency's link to the Japanese financial system.^[2]

Historical Context

Japanese Colonial Rule

The period from 1910 to 1945 was characterized by Japanese colonial administration in Korea. This era saw significant economic integration, with Japan implementing policies aimed at resource extraction and industrial development to benefit the empire. The standardization of currency was a key component of this economic policy, facilitating trade and financial control.^[1]

Economic Integration

The introduction of the yen facilitated Japan's economic policies in Korea, including land surveys, infrastructure development (railways, ports), and the promotion of Japanese businesses. While this integration brought some modernization, it was primarily geared towards serving Japanese interests, often at the expense of Korean economic autonomy.^[2]

Post-War Transition

With the end of World War II in 1945, Korea was liberated from Japanese rule but subsequently divided into Soviet and American zones of occupation. This division led to the establishment of separate monetary systems. The Korean yen was replaced by the old Korean won in both the North and the South, marking the beginning of distinct economic trajectories for the two Koreas.^[2]

Banknote Catalog

Below is a detailed catalog of the banknotes issued for the Korean yen during the colonial period. Note that image representations are omitted as per guidelines.

Sen Denominations

Bank of Chosen Sen Notes:

Denomination	Obverse motif	Reverse motif
5 sen (Stamp currency)	—	—
10 sen		Ornamental
20 sen
50 sen

Denomination	Obverse motif	Reverse motif
5 sen (Stamp currency)	—	—
10 sen (1916)		Ornamental
20 sen (1916)
50 sen (1916)
10 sen (1919)
20 sen (1919)
50 sen (1919)
10 sen (1937)
50 sen (1937)

Yen Denominations

Bank of Chosen Yen Notes:

Denomination	Obverse motif	Reverse motif
1 yen (1911)	Jurōjin
5 yen (1911)	Jurōjin
10 yen (1911)	Jurōjin
100 yen (1911)	Daikokuten

Denomination	Obverse motif	Reverse motif
1 yen (1911)	Jurōjin
5 yen (1911)	Jurōjin
10 yen (1911)	Jurōjin
100 yen (1911)	Daikokuten

Denomination	Obverse motif	Reverse motif
1 yen (1932)	Jurōjin
5 yen (1932)	Jurōjin
10 yen (1932)	Jurōjin

Denomination	Obverse motif	Reverse motif
100 yen (1938)	Jurōjin

Denomination	Obverse motif	Reverse motif
1 yen (1944)	Jurōjin
5 yen (1944)	Jurōjin
10 yen (1944-1945)	Jurōjin
100 yen (1944)	Jurōjin
1 yen (1945)	Jurōjin
5 yen (1945)	Jurōjin
100 yen (1945)	Jurōjin
1000 yen (Never released)	Jurōjin

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References

æ ªå¼æç¤¾ç¬¬ä¸éè¡, Kabushiki gaisha Dai-ichi GinkÅ

A full list of references for this article are available at the Korean yen Wikipedia page

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Important Notice

This page was generated by an Artificial Intelligence and is intended for informational and educational purposes only. The content is based on a snapshot of publicly available data from Wikipedia and may not be entirely accurate, complete, or up-to-date.

This is not financial or historical advice. The information provided on this website is not a substitute for professional historical research, numismatic consultation, or economic analysis. Always refer to primary sources and consult with qualified experts for specific historical or financial inquiries.

The creators of this page are not responsible for any errors or omissions, or for any actions taken based on the information provided herein.

Echoes of Empire: The Korean Yen's Monetary Legacy

💡 Dive in with Flashcard Learning! 💡

The Korean Yen 💰

🌏 A Colonial Currency

⚖️ Parity and Transition

🏦 Issuing Authority

Denominations and Subdivisions 🪙

🔢 The Structure of the Yen

📜 Banknote Series

🖼️ Design Elements

Issuance and Evolution 🏦

➡️ From Dai-Ichi to Chosen

📅 Key Issuance Years

Historical Context ⏳

🏛️ Japanese Colonial Rule

📉 Economic Integration

🏁 Post-War Transition

Banknote Catalog 📖

📅 Sen Denominations

💴 Yen Denominations

Teacher's Corner 🧑‍🏫

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📜 Important Notice

Dive in with Flashcard Learning!

The Korean Yen

A Colonial Currency

Parity and Transition

Issuing Authority

Denominations and Subdivisions

The Structure of the Yen

Banknote Series

Design Elements

Issuance and Evolution

From Dai-Ichi to Chosen

Key Issuance Years

Historical Context

Japanese Colonial Rule

Economic Integration

Post-War Transition

Banknote Catalog

Sen Denominations

Yen Denominations

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice