01/04/2019: Romania plans to adopt the euro
The Romanian government announces its intention to join the Eurozone and set a target date for adopting the euro as the national currency.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
01/06/2005: Currency redenomination
Romania underwent a currency redenomination, with 10,000 old lei being exchanged for 1 new leu, to simplify transactions and eliminate zeros.
01/07/2003: Romania joins EU Accession
As part of joining the European Union, Romania pledges to adopt the euro in the future, aiming for greater economic integration.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
28/02/1991: End of communist era
As communism collapsed, Romania undergoes economic reforms and introduces a free-floating exchange rate system for the leu.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
30/12/1947: Communist regime introduces new leu
In an attempt to devalue the currency and control the economy, the Communist regime introduces a new leu at a ratio of 1:20,000.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
01/03/1901: Introduction of the gold standard
Romanian leu was tied to the gold standard, ensuring the stability of the currency and attracting foreign investments.
01/04/1867: Creation of the Romanian leu
The leu was established as the official currency of Romania, replacing the previous currencies in circulation.