Catalog
1000 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1957-1960 |
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| Size | 166 × 73 mm |
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| Obverse lettering | 천 韓國銀行券 千圜 韓國銀行 1000 ONE THOUSAND HWAN (Translation: One Thousand, Korean banknote, One Thousand Hwan, The Bank of Korea) |
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| Reverse lettering | THE BANK OF KOREA 천 환 1000 HWAN (Translation: ONE THOUSAND HWAN) |
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| Comments |
The 1000 Hwan was the highest denomination issued under the Hwan monetary system, which South Korea had adopted in February 1953 to replace the Chosun Bank Won at a rate of one Hwan to one hundred Won — a direct response to the hyperinflation that had savaged the economy during the Korean War. By the time this note entered circulation, the Hwan itself was already eroding; inflation never fully stabilized, and the currency was replaced in 1962 when a new Won was introduced at 10 Hwan to 1 Won.
Printed domestically by the Korea Minting and Security Printing Corporation rather than contracted abroad, as many earlier Korean issues had been.