Korean currency
In 1902, won was introduced as the official currency unit replacing yang at 1 won = 5 yang. The bank of Korea was established 1909 but soon after in 1910, Imperial Japan annexed Korean Empire. Under Colonial rule, the country was made to use the currency unit "yen" in the name of Korean yen, which took over the Korean won at par. After the division of Korea, the state of South Korea was established and recognized in 1948, and won was again made the official currency of the new state. "jeon" was made the subunit of the currency that divided it into 100 equal parts. Bank of Joseon issued the currency for independent South Korea for the first time that too in banknotes only.
Tongil Market
The market is busy with customers. Prices are in North Korean won and haggling is commonplace. Some prices on par with those in Chinese markets, with vegetables being somewhat more expensive but seafood and clothes generally cheaper. The prices are, however, not particularly cheap in relation to average incomes of North Koreans. For instance, spinach costs 1,000 won at the Tongil Market, fifty times as much as its 20-won price tag at rural markets in North Korea. Because the market is well-stocked, it has been suspected of being a "showpiece", but in fact its wares are comparable to other markets in the country. Its customer base is, however, mainly foreign vistors and domestic elites. The market is open to foreign vistors, and many embassies in Pyongyang use it for shopping. Photography is not allowed. One foreigner, Pamela Bryant, a visiting professor at Pyongyang University of Science and Technology relates how one of her faculty members broke the rule resulting in the entire faculty being banned from the market for three months.