North Korean Won
The Korean People's won, sometimes known as the North Korean won (Symbol: ₩; Code: KPW; Korean: ) or Democratic People's Republic of Korea won (Korean: ), is the official currency of North Korea. It is subdivided into 100 ''chon''. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital city of Pyongyang. Etymology ''Won'' is a cognate of the Chinese yuan and Japanese yen. All three names derive from the Hanja (), which means "round shape." The won is subdivided into 100 chon (; ; McCune-Reischauer: ''chŏn''; Revised Romanization: ''jeon''). History 1947–2009 After the division of Korea, North Korea continued using the Korean yen for two years, until the Central Bank of the Democratic People's Republic of Korea was established on 6 December 1947 and the first North Korean won was issued. In February 1959, the second North Korean won was introduced, equal to 100 old won. From 1978 on, the No ...
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