North Korean won
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The Korean People's won, sometimes known as the North Korean won (Symbol: ₩; Code: KPW; Korean: 조선 원) or Democratic People's Republic of Korea won (Korean: 조선민주주의인민공화국 원), is the official currency of North Korea. It is subdivided into 100 chon. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital city of Pyongyang.Won is a cognate of the Chinese yuan and Japanese yen. All three names derive from the Hanja 圓 (원), which means "round shape." The won is subdivided into 100 chon (전; 錢; McCune-Reischauer: chŏn; Revised Romanization: jeon).
Country
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North Korea
In 1910, Korea was annexed by the Empire of Japan. In 1945, after the Japanese surrender at the end of World War II, Korea was divided into two zones along the 38th parallel, with the north occupied by the Soviet Union and the south occupied by the United States. Negotiations on reunification failed, and in 1948, separate governments were formed: the socialist and Soviet-aligned Democratic People's Republic of Korea in the north, and the capitalist, Western-aligned Republic of Korea in the south. The Korean War began in 1950, with an invasion by North Korea, and lasted until 1953. The Korean Armistice Agreement brought about a ceasefire and established a demilitarized zone (DMZ), but no formal peace treaty has ever been signed.