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.
Juche
In 1956, Kim Il-sung declared "Juche" to be the guiding principle of the economy. After the devastation of the Korean War, North Korea began to rebuild its economy with a base in heavy industry, with the aim of becoming as self-sufficient as possible. As a result, North Korea developed what has been called the "most autarkic industrial economy in the world". North Korea received a lot of economic aid and technical assistance from the Soviet Union and China, but it did not join Comecon, the Communist common market. In the 1990s, it had one of the world's lowest rates for dependence on petroleum, using hydroelectric power and coal instead of imported oil. Its textile industry uses vinylon, known as the ""Juche" fiber", which was invented by a Korean and which is made from locally available coal and limestone. The history of the development of vinylon often featured in propaganda that preached the virtues of technological self-reliance. North Korea had 10,000 CNC machines in 2010. The first domestic homemade CNC machine was introduced in 1995 and in 2017 it has around 15,000 machines.