Catalog
1 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1953 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse is printed in rose-pink on a pale ground and dominated by an intricate guilloche underprint radiating from the centre. The Bank of Korea's circular seal appears in pale red at the centre, surrounded by the Hanja characters 韓 國 銀 行 arranged around it. A floral vignette occupies the upper right, with the denomination 일 원 set within a circular cartouche at the right margin; the denomination numeral 壹 圓 appears in the lower left cartouche. The issuer's name 韓國銀行券 is inscribed in a solid panel across the top, and a repeating numeric underprint border of "1" runs along the lower edge. |
|---|---|
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| Reverse description | The reverse is printed in deep rose-pink on a light ground and carries the bold stylised lettering "The Bank of Korea" occupying most of the upper field, with a rosette vignette centred above. The denomination is expressed in three scripts: the Hanja cartouche 壹 圓 at the lower left, the Hangul 일 원 at the lower right, and the English word "ONE" centred beneath the main inscription, with "WON" repeated along the very bottom margin. A fine wavy-line guilloche fills the background throughout, framed by an ornamental border of repeating geometric motifs. |
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| Comments |
The Hwan was introduced in February 1953 as South Korea replaced the devastated wartime Won at a rate of 100 Won to 1 Hwan — a monetary reset driven by hyperinflation that had eroded the Won to near worthlessness during the Korean War. The US Bureau of Engraving and Printing produced this note, an arrangement reflecting South Korea's near-total dependence on American economic and military support at the time.
The Hwan itself was short-lived. A second currency reform in 1962 replaced it with the new Won at 10 Hwan to 1 Won, making the entire series relatively short-run.