Catalog
10 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1953 |
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| Value | 10 Hwan |
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| Obverse description | The Namdaemun (Great South Gate), Seoul's historic fortress gateway, occupies the central vignette in fine intaglio engraving set against a light guilloche underprint. The numeral "10" is placed in both upper corners, with ornamental floral scrollwork bordering the lateral margins. The Bank of Korea seal appears at lower centre-left, flanked by Chinese-character and Hangul inscriptions identifying the institution and denomination. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The central vignette presents the hexagonal basalt columnar formations of Jusangjeolli Cliff (Jisatgae Rocks) near Daepo on Jeju Island, framed within a guilloche border. The denomination is rendered in Chinese characters and Hangul at centre, while the bank title in English and Chinese script runs along the upper and lower margins respectively. |
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| Comments |
The 10 Hwan was part of South Korea's 1953 currency reform that replaced the won at a rate of 100 won to 1 hwan — a direct response to the hyperinflation that had gutted purchasing power during the Korean War. The reform was announced in February 1953, while armistice negotiations were still ongoing at Panmunjom.
Printing by the Korean Government Printing Office in Seoul was a deliberate assertion of domestic production capacity, though earlier wartime issues had required foreign contract printers. The hwan itself proved short-lived; a second won was reintroduced in 1962 at 10 hwan to 1 won, again correcting accumulated inflation.