Korean Sovereignty, Early Notes Of KOMSCO: 50 Jeon (South Korea, 1962)-Article

Updated: Dec 25, 2021

This South Korean banknote represents the 2nd denomination of the Second Korean Republic Won (KOMSCO Series, 1962). The KOMSCO Series 1962 were the first domestically printed banknotes, in South Korea. Although they were issued alongside the British printed De La Rue Series 1962. Both British and South Korean series are complimentary, with a degree of denomination overlap.


Notably the KOMSCO Series 1962 featured the last issued Jeon denominated notes. Prior to becoming obsolete, due to inflation. The South Korean Won was divided into 100 Jeon (전), which now only exists foreign exchange. On 1 December 1980, Jeon notes along with the 1 Won coin were demonetized.

Observe

A 50 Jeon note produced by KOMSCO, digitally overprinted to comply with S Korean copyright law.
A 50 Jeon note produced by KOMSCO, digitally overprinted to comply with S Korean copyright law.

The ornate observe printed entirely in Korean hangul script. The header reads "한국은행권", translated as "Bank of Korea Note". The note's "50" Jeon face value is listed at the right, backed by a large guilloché pattern. It rests against a stylized oak leaf embellishment.


The center of the note is somewhat cluttered. The hangul text at the center left reads "오십전", for "Fifty Jeon". Below (off-set left) is the text "한국은행", representing the "Bank of Korea". While at the lower left is "-2-", representing the note's production batch. Finally toward the lower center is a red Bank of Korea seal.


The note's frame features hangul script (십) on the upper corners, for "Ten". While the lower corners features number "10"s. At the footer is the text "한국조폐공사", representing the "Korea Minting and Security Printing Corporation" (KOMSCO).


As a reminder the (red) words "Specimen" at the note's center-right and "보기" at the note's lower-left. Have been digitally added, as a precaution to avoid potential S Korean copyright infringement.


Reverse

A 50 Jeon note produced by KOMSCO, digitally overprinted to comply with S Korean copyright law.
A 50 Jeon note produced by KOMSCO, digitally overprinted to comply with S Korean copyright law.

The reverse art is more elaborate than the observe, with English language text. The note's "50" Jeon face value is listed at the center, backed by an elaborate frame-like pattern. The header repeats the note as being issued by "The Bank Of Korea". While footer repeats the note's "50 Jeon" value.


To the note's left, is the only piece of hangul text featured on the reverse. It repeats " 오십전", for "Fifty Jeon". On the right side, is some oak leaf embellishment, which matches those of the observe. The note's (1962) print date is subtly located on the lower right.


Notably this reverse design is slightly modified from the 10 Jeon (1962).

 

Additional Notes

  • This note's dimensions are 90 x 50 mm or 3.54 x 1.97 in, smaller than a US Dollar.

  • The South Korean Won ISO Code is KRW, for Korean Republic Won.

  • "South Korean" Won is a colloquial term, not used domestically in the Republic of Korea.

  • The term "South Korean" Won is used to avoid confusion with the "North Korean" Won.

  • The North Korean Won ISO Code is KPW, for Korean People's Won.

  • Both North and South Korean Won use the symbol , adding to the confusion.

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