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1000 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1957-1960 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | At centre, the Bank of Korea emblem — a stylised circular seal set above a traditional Korean architectural structure — is flanked by ornate acanthus-scroll cartouches executed in intaglio. The denomination numeral '1000' appears at the upper left and right corners, with the issuer name arching across the top in decorative script, while the Hangul denomination '천 환' is placed symmetrically within the guilloche border. |
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| Variants | P#22a - 4290 (1957) P#22b - 4291 (1958) P#22c - 4292 (1959) P#22d - 4293 (1960) |
| Comments |
The 1000 Hwan was the highest denomination issued under the Hwan monetary system, which South Korea had adopted in February 1953 to replace the Chosun Bank Won at a rate of one Hwan to one hundred Won — a direct response to the hyperinflation that had savaged the economy during the Korean War. By the time this note entered circulation, the Hwan itself was already eroding; inflation never fully stabilized, and the currency was replaced in 1962 when a new Won was introduced at 10 Hwan to 1 Won.
Printed domestically by the Korea Minting and Security Printing Corporation rather than contracted abroad, as many earlier Korean issues had been.