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Yang
Hangul:	냥
Hanja:	兩
Revised Romanization:	nyang
McCune-Reischauer:	nyang

Fun
Hangul:	분 or 푼
Hanja:	分
Revised Romanization:	bun or pun
McCune-Reischauer:	pun or p'un

The yang (兩) was the currency of Korea between 1892 and 1902. It was subdivided into 10 jeon (錢), 100 fun (分) and 5 yang = 1 hwan (圜).

Contents 1 Etymology 2 History 3 Coins 4 Banknotes 5 References

Main article: Etymology of the Korean currencies

The word yang is a cognate of the Chinese "tael" (pronounced "liǎng" in Chinese). Fun (pronounced "pun" but spelt with an "f" on the coins), is also a cognate of a Chinese word, fen, which is equal to 1/100 yuan, whilst hwan is a cognate of yuan itself.

Main article: History of the Korean currencies

Just before the yang was introduced, a small number of coins denominated in hwan (圜) and mun (文) were minted (1 won = 1000 mun). It is unclear whether these coins circulated. The 1 won and 5 yang coins were equal in size, containing 416 grains of silver. However, before 1892, the main currency of Korea was the mun, a denomination based on the Chinese wen.

The mintage and circulation of modern currency began during the last years of the old Korean Empire as a result of contact with the West. Around the time of the trial adoption of the gold standard in 1901, gold and silver coins were in circulation along with some Japanese bank notes.

The yang was replaced by the won at a rate of 1 won = 5 yang.

Coins were minted in the denominations of 1 fun, 5 fun, ¼ yang, 1 yang, 5 yang and 1 whan. The coins all carried the title of the state, "Dae Joseon" (Great Korea; 대조선; 大朝鮮), then just "Joseon" (Korea; 조선; 朝鮮) and then Daehan (대한; 大韓). Unitl 1897, the dynastic dating system was used, where the founding year of the Joseon Dynasty, 1392, was year 1. Starting in 1897, the regnal year of the monarch was used instead.

Korean Won Coins
Denomination	Composition
1 fun	Brass
5 fun	Copper
¼ yang	Initially cupronickel and then copper around silver
1 yang	800‰ silver
5 yang	900‰ silver
1 whan (=5 yang)

A series was printed by the Treasury Department but never issued. The denominations were 5 yang, 10 yang, 20 yang, and 50 yang.

• Kurt Schuler (2004-02-29). Tables of modern monetary history: Asia. Currency Boards and Dollarization.
• (2004) in Chester L. Krause, Cliffor Mischler, Colin R. Bruce II, et al. (editors): Standard Catalog of World Coins: 19th Century 1801-1900, 4th ed., KP Books. ISBN 0-87349-798-8. 
• Albert Pick (1996). in Neil Shafer, George S. Cuhaj, Colin R. Bruce II (editors): Standard Catalog of World Paper Money: General Issues to 1960, 8th ed., Krause Publications. ISBN 0-87341-469-1. 

Preceded by: Korean mun and Chinese currencies to some extent Reason: currency reform

Currency of Korea 1892 – 1902

Succeeded by: Korean won and Korean yen Reason: heavier influence by Japan Ratio: 1 yen = 1 won = 5 yang

v • d • e Historical currencies of Korea
Mun 1633–1892 Yang 1892–1902 Won 1902–1910 Yen 1902–1945 N. old won 1947–1959 N. new won 1959–present S. old won 1945–1953 Hwan 1953–1962 S. new won 1962–present See also: Etymology of the Korean currencies · History of the Korean currencies