Catalog
500 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1956-1957 |
| Type | Standard circulation banknote |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 韓國銀行券 五百圜 韓國銀行 오백환 (Translation: Bank of Korea Note, Five Hundred Hwan, Bank of Korea) |
| Reverse description | Log in to see details |
| Reverse lettering | the BANK of KOREA FIVE HUNDRED HWAN |
| Signature(s) | Log in to see details |
| Protection type | Log in to see details |
| Protection description | Log in to see details |
| Variants | Log in to see details |
| Comments |
Korea's post-war currency situation in the mid-1950s was genuinely chaotic. The Hwan had replaced the Won in 1953 at 100:1 specifically to suppress inflation driven by wartime spending, but pressure on the currency never fully relented. The 500 Hwan denomination — the highest in the series — was a practical necessity in an economy where purchasing power remained severely compressed despite the redenomination.
Printed domestically by the Korea Minting and Security Printing Corporation rather than contracted abroad, as many Korean issues of the period were. The series was superseded when the Won was reintroduced in 1962 at 10 Hwan to 1 Won.