5 Yen

The Bank of Chosen (Chōsen Bank) was the central bank of Japanese-occupied Korea, and by 1944 its note production was operating under severe wartime constraints. Paper quality had degraded noticeably across the series by this point, and the simplified printing reflects material shortages rather than any design decision. Notes from this late wartime period circulated hard and were not systematically redeemed after liberation in August 1945, leaving a supply that skews toward heavily worn survivors.

Following Japan's defeat, Chōsen Bank notes briefly continued in use in the south under U.S. Military Government authority before being replaced in 1946.