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.
Human rights in North Korea
Economic reform abolished the old coupon system in North Korea, which had favored non-productive citizens regarding access to food. After the coupon system disappeared, an average urban family spent between 75 and 85 percent of their income on food, while state farmers were spending only a third of their income on food. These disparities show that North Korea does not have safety net mechanisms to protect the vulnerable people in society, such as housewives and the elderly.