Catalog
5 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1953 |
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| Printer | Bureau of Engraving and Printing, United States (1862-date) |
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| Obverse description | Red on light blue underprint. The face is dominated by an intricate guilloche trellis pattern radiating from the centre, with the Korean characters for 'Bank of Korea' (韓國銀行) inscribed in a panel at the top. A circular Bank of Korea seal overprint appears in the centre, and an olive branch vignette enclosed in a circular frame is positioned to the right, with the denomination in Korean script (오 원) alongside it. Corner numerals '5' appear at all four corners. |
|---|---|
| Obverse lettering | 券行銀國韓 오 원 行銀國韓 (Translation: Korean banknote, Five Won, The Bank of Korea) |
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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.