Catalog
5 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1953 |
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| Size | 111 × 54 mm |
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| Reverse description | Red on light background. The reverse is dominated by a large ornate script inscription 'The Bank of Korea' in elaborate letterpress lettering across the centre, set against a fine guilloche underprint. A floral rosette device appears at the top centre, flanked by intricate lathe-work borders. The denomination is expressed in Chinese characters (圜五) within a circular frame at the lower left and in Korean script (오 원) at the lower right, with the English word 'FIVE' beneath the main inscription. |
| Reverse lettering | The Bank of Korea 圜五 FIVE 오 원 (Translation: Five Hwan, Five Won) |
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| Comments |
The Hwan was introduced in February 1953 as South Korea was still fighting the Korean War, replacing the Won at a rate of 100:1 in a desperate attempt to suppress the inflation that had been running almost unchecked since 1945. The United States Bureau of Engraving and Printing produced this series — a practical arrangement given that South Korea had no domestic security printing capacity capable of meeting wartime demand.
The Hwan itself lasted only until 1962, when currency reform reintroduced the Won. The entire denomination range was short-lived by design.