The South Korean Won is the official currency of South Korea. The official currency symbol: ₩. The name of the coin is derived from the hanja (Korean name for a traditional writing system) ”won”, which means round.
The South Korean won has been issued in two stages; the first Korean won made its first appearance in the 16th to 19th centuries due to its derivation from the Spanish American silver dollar. This won was replaced by the Korean yen, which was on par with the Japanese yen during the Japanese colonial period between 1910 and 1945. After the end of World War II in 1945, Korea was divided between the South and the North, which resulted in two different won coins. Both won (South and North), they replaced the yen. This first victory went to the hwan in 1953. The second introduction was introduced in 1962 to circulate alongside the hwan. The latter was withdrawn when in 1975, the won became the only legal tender. In 1966, the Bank of Korea introduced coins in denominations of 1, 5 and 10 won. The 100 won coin was issued in 1970, followed by the 50 won in 1972, and the 500 won in 1982.
The 1 South Korean won coin front design features a rose of Sharon and the denomination. The reverse of the coin presents the numerical denomination, the issue date and the Bank of Korea inscription. This coin is part of the 1983 – 2019 series, its rim is plain, and its color is silver.
Text: 일원 , 1983,1,한국은행.