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.
North Koreans in Russia
However, the most recent influx of North Korean workers, which began under the government of Vladimir Putin, is composed of volunteers seeking to escape unemployment and poverty at home. Most are from Pyongyang; recruitment companies prefer workers from urban areas, as they are believed to adapt better to life in other countries. By 2006, more than 10,000 North Koreans entered Russia on work visas annually, largely headed for the Russian Far East. They are closely monitored by North Korean security forces to prevent defections; many report being paid in scrip rather than legal currency. In 2009 the North Korean government was estimated to earn roughly US$7 million each year in foreign exchange through their workers in Russia. In 2010 reports came out from Nakhodka indicating that North Korean workers and traders there had been evacuated back to their home country due to rising military tensions with South Korea. In 2011 Kim Jong-il made a visit to Russia in which he reportedly negotiated for even more North Korean workers to be sent to Russia. Up to 70% of the $40 to $100 per month wages earned by the workers are reported to be taken away as "loyalty payments".