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.
Postage stamps and postal history of North Korea
The first stamps of North Korea were issued on 12 March 1946: "Rose of Sharon" and "Samson Rock". Stamps prior to 1974 dealt primarily with subjects relating specifically to North Korea, its foundation, Kim Il-sung and other patriotic themes. After 1974, in a bid to bring more hard currency into the country, North Korea began issuing stamps with wide-ranging themes (such as Joan of Arc, airships, sports and wildlife) and using English descriptions.