10 Hwan

The 10 Hwan was part of South Korea's 1953 currency reform that replaced the won at a rate of 100 won to 1 hwan — a direct response to the hyperinflation that had gutted purchasing power during the Korean War. The reform was announced in February 1953, while armistice negotiations were still ongoing at Panmunjom.

Printing by the Korean Government Printing Office in Seoul was a deliberate assertion of domestic production capacity, though earlier wartime issues had required foreign contract printers. The hwan itself proved short-lived; a second won was reintroduced in 1962 at 10 hwan to 1 won, again correcting accumulated inflation.