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.
Economy of North Korea
The South Korea-based Bank of Korea estimated that over 2000 to 2013 average growth was 1.4% per year. It estimated that the real GDP of North Korea in 2015 was 30,805 billion South Korean won. The same year, it published the following estimates of North Korea's GDP growth: