5000 Won Tug of War

Issued to commemorate the 1988 Seoul Olympics, this piece was released two years ahead of the Games as part of Korea's extended commemorative program — one of the most ambitious Olympic coin series produced by any host nation up to that point. South Korea used the program partly to project economic confidence during a period of rapid industrialization and significant political tension; the country was still under authoritarian rule when these coins were struck, and the Olympics themselves became a flashpoint for pro-democracy demonstrations.

Tug of war was dropped from the Olympic program after 1920, making its appearance here a nod to traditional Korean folk games rather than any current competitive event.