Korean yen
The Korean yen was the currency of Korea between 1910 and 1945. It was equivalent to the Japanese yen and consisted of Japanese currency and banknotes issued specifically for Korea. The yen was subdivided into 100 sen. It replaced the Korean won at par and was replaced by the South Korean won and the North Korean won at par.
South Korean won
On February 27, 1980, efforts were initiated to lead to a floating exchange rate. The won was finally allowed to float on December 24, 1997, when an agreement was signed with the International Monetary Fund. Shortly after, the won was devalued to almost half of its value, as part of the East Asian financial crisis.