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100 Hwan 15th Issue
| Issuer | Government of the Republic of Korea |
|---|---|
| Year | 1962 |
| Type | Log in to see details |
| Value | 100 Hwan |
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| Obverse description | Printed in blue on a light ground, the certificate is framed by an elaborate intaglio border of scrollwork and floral guilloche, with the Taegukgi roundel at the top centre. The denomination 壹百圜 (100 Hwan) is set in large Chinese characters within a guilloche underprint panel at centre, with Hangul value panels at upper left and right. An orange serial number and a red official seal of the Minister of Finance appear at centre right and lower left respectively. |
|---|---|
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| Reverse description | Printed in green on a plain light ground, the reverse consists entirely of two ruled tabular schedules enclosed within a decorative floral border. The upper table sets out the principal repayment schedule in five annual instalments from 1965 to 1969, and the lower table lists the corresponding interest payments with the combined principal-and-interest sum due at each date. |
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| Comments |
The Hwan was already a dying currency when this note was printed. On June 10, 1962, the military government of Park Chung-hee enacted a currency reform that replaced the Hwan at a rate of 10:1 with the new Won — a reform paired with a surprise bank account freeze intended to flush out hoarded capital and fund industrialization. Notes like this one were abruptly demonetized as part of that shock conversion, giving the 15th issue an unusually short window of legal validity.
Printed domestically by KOMSCO rather than contracted abroad, which had been common practice for earlier Korean issues.