Educational Series Banknote: South Korea Ten Jeon 1962

Educational Series Banknote: South Korea Ten Jeon 1962

Type: Standard banknote
Year: 1962
Value: 10 Jeon
Currency New won (1962-date)
Composition: Paper
Size: 90 × 50 mm
Shape: Rectangular

Obverse
Denomination in ornaments

Script: Hangul

Lettering:
한국은행권
십전
한국은행

Translation: Korean banknote, Ten Jeon, Bank of Korea

Reverse
Denomination in ornaments

Scripts: Hangul, Latin

Lettering:
THE BANK OF KOREA
십
전
10 JEON
1962

Translation: Ten Jeon

Printer
Korea Minting and Security Printing Corporation, Daejeon, South Korea

Information reference:
https://en.numista.com/catalogue/note204231.html
https://www.bok.or.kr/eng/main/contents.do?menuNo=400118

Brief History:

From the Currency Reform in 1962 to 1969

The new government carried out the Currency Reform in 1962 to replace 圓-denominated notes with won-denominated ones and to use the unit 'jeon' for small value transactions.

This measure is significant in terms of the adoption of won-denominated notes rather than the achievement of economic goals.

From 1962, the government carried out a series of five-year economic development plans. Another Currency Reform was carried out on June 10, 1962 to support the initiatives and to channel hoarded wealth into industrial development.

Although failing to accomplishing its intended economic goal, the Currency Reform in 1962 is important in the history of money that it introduced the won-denominated currency still in use.

Postage Stamp
Commemorative of President Chun Doo Hwan's visit in United States of America

Video created using Kapwing
Music by Kapwing: Milla by HighPassGG

You may follow me at:
FB: https://www.facebook.com/Old-Collectible-Coins-and-Stamp-100506579154815
Twitter: @CamiCruz07