50 Sen

Daiichi Bank — Japan's First National Bank — operated in Korea from 1878, decades before formal annexation, and its notes functioned as de facto currency across the peninsula during the Japanese commercial penetration of the region. This 50 Sen note dates to 1904, the year the Russo-Japanese War began, a conflict that accelerated Japan's financial and administrative control over Korea. Daiichi Bank notes circulated alongside, and increasingly displaced, Korean government-issued currency during this period.

The bank lost its note-issuing role in Korea in 1909 when the Bank of Korea was established to take over that function.