Bank of Korea Money Museum

The visit to the Money Museum can be contributed to my brother; who likes to learn all about the history and workings of the bank systems of the world and how they interconnect... So let's go to the museum.

The main entrance of the Bank of Korea Money Museum in the foreground and the headquarters of the new BoK in the background.

The construction of the two-storey renaissance structure began in 1907 as a facility for the Dai-Ichi Ban of Japan.  However, upon the establishment of the central bank of the Korean Empire in 1909, ownership of the building was transferred to the original bank of Korea. During the period of Japanese occupation that seen follow their regional bank of Korea was rename the bank of Joseon and the building became its headquarters upon its completion 1912.  There was a magnificent vault in the basement, and the building was equipped with the first elevator installed in Korea. The building was used as the headquarter of the Bank of Korea On June 12, 1950.

During the Korean War that rained from 1950 to 1953 the interior of the building was damaged severely, but it was restored in 1958. With the construction of the current headquarters of the Bank of Korea in 1987, the roof and facade were returned to their original grandeur. The bank of Korea Money Museum was opened in 2001 on the 50th anniversary of the establishment of the Bank of Korea.

The big bronze tinted signboard in Hangul and Romanized lettering the left of the entrance clearly indicates that this is the Bank of Korea Money Museum.  

In the lobby of the museum is a big circle that rests on four pillars with a big transparent pyramid filled with coins and bullion bars in its centre.

Here one can see many shiny coins scattered in the shape of an oval around and on the seven stacked bullion bars.

The displays in the museum went way back to the prehistoric period of bartering and commodity "currencies".  Here there are objects like bronze arrow tips, shells, and pieces of bone. 

Bronze animal-shaped ornaments most probably used as barter.

Various bronze arrowheads indicating the level of craftsmanship.

The museum covered the entire life cycle of money from the materials needed, printing processes, and decommissioning of banknotes in great detail.

The various layers of the printing process from blank paper to the creation of the final note.

From money bills to shreddings to construction material or vibration dampening pads for vehicles.

There were a couple of models around the monetary creation and banking system. Below is a representation of a lab where metal alloys were created, the melting, purifying, and casting of bullion bars, the bullion bars stamped to indicate 99.9% purity, and lastly the bank layout with the bank clerks serving the clients and the manager overviewing the clerks to ensure high levels of consistency in throughput. 

 

The museum will not be complete without some educational fun things to do mainly aimed at the younger audience, but hey somethings can make for great souvenirs. 

The new design of the 50,000 WON as a souvenir with the face of the blogger :)

Now let's get to the monetary displays that will really interest my brother.  Below is the gold currencies for the U.S.A., Britain, Canada, China, Australia, and South Africa. These currencies are directly linked to the gold price so their monetary value fluctuates to incorporate the rate of inflation.   

The museum displayed a detailed history of the currencies used in Korea, Japan, and China. However, the webpage of BoK only gives the history and photos of Korean currencies.

The museum has a good layout with sufficient specimens to view and gives a complete overall development of the monetary system.  For tourists who like to take photos of the displays will find that the lighting will test your skills.

It is noteworthy to remember the museum is open on Tuesday through Sunday from 10 to 5 and is closed Mondays and National public holidays. If you are into guided tours, you will find English tours on Tuesdays, Thursdays and Saturdays, Chinese tours on Wednesdays, and Japanese tours on Fridays at 14:00. On the other hand, Korean tours are available daily at 11:00, 14:00, and 15:00.  The museum is located at 39 Namdaemun-ro, Jung-gu, Seoul (Namdaemun-ro 3 ga 110) or you can call them at 02-759-4881 or visit their site, which provides all the different bus numbers and subway stop from which you can access the museum.