Etymology of the Korean currencies
The won is the currency of both North and South Korea. "Won" is a cognate of the Chinese currency unit, the yuan (//), and the Japanese currency unit, the yen (; ¥), meaning "round object". The won is subdivided into 100 jeon ().
South Korean won
The first South Korean won was replaced by the "hwan" on February 15, 1953 at a rate of 1 hwan = 100 won.
Republic of Korea Banknotes 5th Edition