5 Won

The 5 Won coin has been continuously struck since 1966, but the brass composition adopted in the early issues replaced an earlier cupronickel version — a shift driven by international metal price volatility rather than any domestic policy reform. By the 1980s, the denomination had become largely ceremonial in commercial life; South Korea's rapid economic growth through the "Miracle on the Han River" decade rendered such small-value pieces functionally redundant in everyday transactions, though the Bank of Korea continued production to satisfy vending machine tolerances and accounting requirements.

Annual mintages dropped sharply after 2006, with some years seeing proof-only issues.