100 Won

The 1965 series marked a significant shift for the Bank of Korea — this was among the first issues to be printed domestically by the Korea Minting and Security Printing Corporation rather than contracted abroad, as had been routine practice through much of the preceding decade. South Korea had relied heavily on foreign security printers, particularly in the United States and the United Kingdom, during the currency's early post-independence years.

Pick 38 is relatively common in circulated grades but turns up far less often with intact serial number clarity, as the ink formulations of this period were prone to fading under sustained handling.