The Hungarian korona was the replacement currency of the Austro-Hungarian Krone/korona

Austro-Hungarian krone

The Krone or korona was the official currency of the Austro-Hungarian Empire from 1892 until the dissolution of the empire in 1918...

 amongst the boundaries of the newly created post-World War I Hungary

Hungary

Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...

. It suffered a serious inflation

Hyperinflation

In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...

 and was replaced by the pengő

Hungarian pengo

The pengő was the currency of Hungary between 1 January 1927, when it replaced the korona, and 31 July 1946, when it was replaced by the forint. The pengő was subdivided into 100 fillér...

 in 1925. The last korona banknotes were withdrawn from circulation in 1927.
According to the Treaty of Trianon

Treaty of Trianon

The Treaty of Trianon was the peace agreement signed in 1920, at the end of World War I, between the Allies of World War I and Hungary . The treaty greatly redefined and reduced Hungary's borders. From its borders before World War I, it lost 72% of its territory, which was reduced from to...

 and other treaties regulating the situation of countries emerging from the ruins of the dissolved Austro-Hungarian Empire

Austria-Hungary

Austria-Hungary , more formally known as the Kingdoms and Lands Represented in the Imperial Council and the Lands of the Holy Hungarian Crown of Saint Stephen, was a constitutional monarchic union between the crowns of the Austrian Empire and the Kingdom of Hungary in...

, the former banknotes had to be overstamped by the new states and - after a given transition-period - replaced by a new currency.