Which currency, introduced in 1962, replaced the hwan in South Korea?
Answer and explanation
Correct answer: A. The won, issued by the Bank of Korea
- Step 1: The hwan had been used since 1953 and lost value rapidly. Step 2. A currency reform in June 1962 replaced it with a new unit. Answer: The won, issued by the Bank of Korea. Why not the others: The yen, dollar and yuan were not the currency of the republic.
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