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50 Won
| Issuer | Central Bank of the Democratic People's Republic of Korea |
|---|---|
| Year | 2002 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse lettering | 조선민주주의인민공화국 중앙은행 50 오십원 (Translation: Democratic People`s Republic of Korea, Central Bank, Fifty Won) |
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| Protection type | Log in to see details |
| Protection description | Siebold's Magnolia (Magnolia sieboldii) watermark |
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| Comments |
North Korean won notes of this period were not issued for domestic retail use in the conventional sense — the country operated a bifurcated currency system through much of the early 2000s, with ordinary citizens' access to banknotes tightly controlled through the Public Distribution System. Notes like this circulated in a heavily administered economy where price signals had little meaning.
The 2002 series predates the July 2002 economic reforms by a matter of months — those reforms, which introduced limited market pricing, briefly made denominations like this one functionally obsolete before a chaotic adjustment followed. The 2009 redenomination, which wiped two zeros from the currency and capped household exchange, rendered most pre-reform notes worthless overnight.