1000 Hwan

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.