500 South Korean Won Banknote (Pagoda 1966 Issue)

500 Won Won (Issued 1966)

Issued in 1966 during a period of rapid economic reconstruction in South Korea, this 500 Won banknote was produced under the Bank of Korea’s Won Reform series at a time when the country was laying the institutional foundations of its modern financial system. The denomination represented a significant sum in everyday Korean life during the mid-1960s, and its issue reflected growing confidence in the stabilised Won currency that had been redenominated earlier in the decade. The note carries forward a distinctly Korean design vocabulary, drawing on historic architecture and maritime heritage to communicate national identity and pride through its imagery. As a withdrawn note from South Korea’s formative post-war banking era, it stands as a tangible document of the country’s economic ambitions during that transformative period.

On the front, the dominant central image is a detailed engraved vignette of Namdaemun — the Great South Gate of Seoul — rendered with considerable precision, showing the characteristic two-tiered traditional Korean gate structure set upon a stone archway, with trees flanking the composition on either side. The overall colour palette of the front face is a muted greyish-purple with olive-green tones visible particularly within the architectural vignette, giving the note a restrained, formal appearance. To the right of the gate illustration, the denomination is printed in large Korean Hangul script reading 오백원, meaning five hundred Won, with the issuing authority 한국은행 (Bank of Korea) printed beneath it in clear black type. A red circular seal stamp appears adjacent to the denomination text, adding an official authenticating mark to the composition. The serial number 차 30764847 다 is printed twice — once centrally across the lower portion and once along the left edge — in black ink. The numeral 500 appears in the upper right and lower left corners in bold typography, with the Hangul equivalent 오백 appearing in the lower right corner. The upper edge carries the text 한국은행권 (Bank of Korea note) in Hangul, and the lower right margin bears a small printer’s inscription identifying the Korean Security Printing Corporation as the manufacturer. The background of the note is covered in fine guilloché latticework and scrolling geometric patterns that fill the margins and surround the central vignette, providing both visual complexity and a degree of security against reproduction. Decorative floral and scroll motifs occupy the right-hand border, executed in a delicate engraved style consistent with the banknote printing conventions of the period.

The reverse is dominated by a richly detailed maritime scene depicting what are unmistakably Geobukseon — the famous Korean turtle ships — rendered in a purple and violet ink scheme that unifies the entire reverse face. Three vessels are visible on a stylised open sea: the foreground features a broad, low-hulled turtle ship with its distinctive covered, arched deck, flying pennant flags and with oars visible along the hull; a second vessel of similar type is positioned to the left in the middle distance; and a third, taller-masted sailing vessel with a full square sail and additional flags occupies the far right of the scene, its rigging and hull depicted with fine engraved line work. The sea is rendered with horizontal wave-line engraving that gives a sense of movement and depth across the composition. At the top of the reverse, the issuing authority name is printed in English in bold capital letters: THE BANK OF KOREA, set within a decorative border that runs the full width of the note. At the base, the denomination is shown in both numerals and text: 500 WON, equally prominent and framed by the lower border. The numeral 500 appears within an ornate guilloché rosette panel on the left side of the reverse, surrounded by elaborate scroll and petal engraving in the same violet tone. The Hangul equivalent 오백 is repeated in the lower left corner. Decorative scroll and acanthus-leaf border elements frame all four edges of the reverse, with diagonal hatching and fine-line fill patterns occupying the corner sections, contributing to the overall security printing of the design.

Webuyallcurrency.com makes it easy to exchange old coins and banknotes — a 500 Won banknote from South Korea is accepted with other old or withdrawn South Korean Won banknotes and converted into cash in one go.

• Indicate the quantity of 500 Won Won banknotes you want to exchange
• Click the ‘Add to your account’ button
• Your online account now shows the exchange value

If you have leftover currency to exchange, Webuyallcurrency.com accepts South Korean Won banknotes and a wide range of other foreign coins and notes, paying out for the lot in a single straightforward transaction.

Other South Korean Won you can exchange: 0.1, 0.5, 1, 5, 10, 50, 100, 1000, 2000, 5000.