5 Won

The Bank of Joseon — the central bank originally established under Japanese colonial administration in 1909 — continued operating after liberation in August 1945, issuing notes under its existing institutional name while Korea's postwar political status remained unresolved. This 5 Won belongs to a series printed in April 1945, before the surrender, but held and released under the U.S. Military Government as emergency currency after the peninsula's division along the 38th parallel.

The gap between printing date and catalog year reflects the chaotic transition period directly. Notes from this series circulated alongside Japanese yen and earlier colonial issues well into 1946.