Korean mun
Encyclopedia
The mun was introduced as the main currency of Korea
in 1633 and stayed in use until 1892. It resembled and was derived from the Chinese wen
(cognate also to the Japanese mon). Coins denominated in mun were cast in copper or bronze and were round with square holes. In 1888, coins were struck in small numbers denominated in mun and won (equal to 1000 mun). The mun was replaced in 1892 when the yang
was introduced.
period (918–1392). Early in that period, even though some imported Chinese currency was in circulation, commodity currency such as grain and linen continued in general circulation. In the 10th and 11th centuries, iron and copper coins along with silver vase-shaped coins were issued, but never widely circulated.
It was not until the beginning of the Joseon
period (1392–1910) that copper coins were minted for wide circulation. Jeohwa (/), which was made of standardized mulberry
-bark paper early in the Joseon period, become the first legal paper money and was used as a medium of exchange in place of coins until it disappeared in the early 16th century. From the 17th century until the end of the 19th century, coins denominated in mun bearing the inscription Sangpyeong Tongbo were the most widely circulated currency.
Korea
Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...
in 1633 and stayed in use until 1892. It resembled and was derived from the Chinese wen
Chinese wen
The cash was a currency denomination used in China between 621 and 1948. It was the chief denomination until the introduction of the yuan in the late 19th century.-Etymology:...
(cognate also to the Japanese mon). Coins denominated in mun were cast in copper or bronze and were round with square holes. In 1888, coins were struck in small numbers denominated in mun and won (equal to 1000 mun). The mun was replaced in 1892 when the yang
Korean yang
The yang was the currency of Korea between 1892 and 1902. It was subdivided into 10 jeon , 100 bun and 5 yang = 1 hwan .-Etymology:The word yang is a cognate of the Chinese "tael"...
was introduced.
History
The first definitive record of currency use in Korea appears in the GoryeoGoryeo
The Goryeo Dynasty or Koryŏ was a Korean dynasty established in 918 by Emperor Taejo. Korea gets its name from this kingdom which came to be pronounced Korea. It united the Later Three Kingdoms in 936 and ruled most of the Korean peninsula until it was removed by the Joseon dynasty in 1392...
period (918–1392). Early in that period, even though some imported Chinese currency was in circulation, commodity currency such as grain and linen continued in general circulation. In the 10th and 11th centuries, iron and copper coins along with silver vase-shaped coins were issued, but never widely circulated.
It was not until the beginning of the Joseon
Joseon Dynasty
Joseon , was a Korean state founded by Taejo Yi Seong-gye that lasted for approximately five centuries. It was founded in the aftermath of the overthrow of the Goryeo at what is today the city of Kaesong. Early on, Korea was retitled and the capital was relocated to modern-day Seoul...
period (1392–1910) that copper coins were minted for wide circulation. Jeohwa (/), which was made of standardized mulberry
Paper Mulberry
The Paper Mulberry is a tree in the family Moraceae, native to eastern Asia. Other names include Dak, Halibun, Kalivon, Kozo, and Tapacloth tree.It is a deciduous tree growing to tall...
-bark paper early in the Joseon period, become the first legal paper money and was used as a medium of exchange in place of coins until it disappeared in the early 16th century. From the 17th century until the end of the 19th century, coins denominated in mun bearing the inscription Sangpyeong Tongbo were the most widely circulated currency.
See also
- Chinese wenChinese wenThe cash was a currency denomination used in China between 621 and 1948. It was the chief denomination until the introduction of the yuan in the late 19th century.-Etymology:...
- Vietnamese vanVietnamese cashVietnamese cash is a cast round coin with a square hole. The same type of currency circulated in China, Japan and Korea for centuries.-History:The first Vietnamese coins were cast under the rule of the Đinh Dynasty ....
- Japanese mon