50 Mun

The Keijo-Pusan Railway Company — operating Korea's first modern rail line connecting Seoul (then Keijo under Japanese-influenced naming) to Busan — issued scrip notes to manage small transactions along the line during a period when reliable small-denomination coinage was chronically scarce across the peninsula. The railway itself was a joint Japanese-Korean venture chartered in 1899, with Japanese commercial interests holding decisive control from the outset.

The "mun" denomination is an anachronism by 1900 — Korea's monetary system had been formally restructured under the 1892 New Coinage Regulations, yet older unit names persisted in informal commercial use, particularly in scrip. This note predates Japan's formal annexation of Korea by a decade.