Money can be considered one of humanity's most important and ancient inventions, enduring throughout the ages—the eternal guide of nations' histories and a spy on human dramas and passions. Created to serve, it has, to a certain extent, enslaved people, becoming the object of their hopes and dreams. 

 
A thousand years have passed since the first money appeared in Korea. Its history is complex. The names of monetary units changed frequently, and consistent circulation wasn't established until the 19th century. For a long time, only barter existed in this eastern country. Fabrics and rice were the primary items used. And if a major transaction was in the works, silver bars were used. 

The first attempt to introduce money in Korea dates back to 996-998. At that time, China was one of the main cultural and economic centers. Coins had existed there as early as the 1st millennium BC. The introduction of money in Korea was simply an adaptation of the Chinese practice. These coins were not minted but cast from a special copper alloy; they were very light, weighing about three grams each. They were worth exactly the price of the material from which they were made, which was very little. The coins had a square hole in the center, through which they were strung on a special thread. Sometimes these strings weighed several kilograms. Typically, only hieroglyphs were placed on the coins. These indicated the country and the ruler under whom the coins were minted. The first attempt to establish a monetary system in the country was unsuccessful. After some time, the population returned to their accustomed barter.

It wasn't until 1633 that money was reintroduced in Korea. This time, the experiment proved more successful. Regular issuance began in 1679. Money became so convenient that it became impossible to imagine life without it. At the end of the 19th century, it acquired a par value. Now, money was no longer strung on a string or cast from copper, but minted. As early as the 1880s, the first Korean silver coin with an ornament was issued.

But for a long time, the monetary system couldn't stabilize. New coins replaced the old ones, only to be replaced by new ones. The names of the currency units also constantly changed. The country adopted Chinese, Japanese, and, oddly enough, even Mexican coins. And at the beginning of the 20th century, coins bearing the image of an eagle, very similar to the Russian one, entered circulation. 

During the period of colonial occupation of Korea by Japan from 1910 to 1945, the Japanese monetary unit, the yen, was used. 
In 1948, South Korea declared its independence. And just before the start Korean War The Central Bank prints its first banknotes. For the first time in the country's history, they feature the image of South Korean President and dictator Syngman Rhee. However, Japanese currency continues to circulate for some time during this period.

Gradually, the monetary system became more stable. The 1953 reform introduced the hwanu coin with inscriptions in Korean and English. The monetary system that exists in Republic of Korea The currency reform, as it is today, was established in 1962. It introduced inscriptions exclusively in the native language, which remain to this day. With this reform, the traditional Korean name for the currency—won—was also restored. It, like the Japanese yen, originates from the Chinese character created to represent the currency. Essentially, they are the same name, only pronounced differently in each country. 

 Since the last reform, no significant changes have occurred in South Korea's monetary system. However, inflation has taken its toll. For example, 1- and 5-won coins are no longer used. The same fate will likely soon await the 10-won coin. Currently, coins in denominations of 50, 100, and 500 won and banknotes in denominations of 1000, 5000, and 10.000 won are in circulation.

Korean currency depicts philosophers, educators, national heroes, and ancient architectural monuments—in short, everything that is considered a symbol of the country in any given world.

Natalya Orekhova