• Until 1896, Korea used a luni-solar calendar of 12 months (M) with 29 and 30 days (D). To align with the solar cycle an intercalary month of 29 or 30 days was added every second year, leading to varying year lengths.
  Annual count was done using Chinese regnal eras until 1894. In this year, the ruling Joseon dynasty introduced the Gaeguk era which was based on the dynasty's accession, so that the calendar started with the year KK:Gaeguk-503. Beginning 1896, Korea switched to the Gregorian calendar. This event was marked with the start of the Geonyang era so that 01.01.1896 = KK:D01.M01.Geonyang-1. In 1897, Korea was reconstituted as an empire. The two emperors adopted the Japanese dating system with eras starting at the accession date. For the first imperial era the adoption of the constitutional change was selected as start date:
  - Gojong: 14.08.1897 = KK:D14.M08.Gwangmu-01
  - Sunjong: 19.07.1907 = KK:D19.M07.Yunghui-01.
  On 22.08.1910 = KK:D22.M08.Yunghui-04 = JJ:D22.M08.Meiji-43 the Japanese-Korean annexation treaty took effect, and Korea adopted the Japanese calendar.

Timeline

• 22.01.1874
• Ordinance on the import ban for Chinese Cash coins to curb inflation; could not be implemented
• 16.02.1886
• Opening of a (second) mint in Gyeongseong (today's Seoul), a first attempt in March 1884 had failed
• around 1888
• Experiments at creating a milled coinage for Korea, the coins were not issued for circulation:
  - Silver: 1 Won ("Warn") in the standard of the Japanese Yen
  - Copper: 10, 5 Mun (= ¹⁄₁₀₀, ¹⁄₂₀₀ Won).

Timeline

• ??.11.1892
• Opening of the mint in Incheon
• 1892-1902
• Issuance of milled coinage for Korea:
  - Silver: 5 Yang in the standard of the Japanese Yen
  - Subsidiary: 1 Yang (silver), ¼ Yang (copper-nickel), 5, 1 Fun (copper).

Valuation Regimes

• 1892-1901
• Metallic currency (nominally) based on circulating silver coins, de facto dominated by subsidiary coins in particular the ¼ Yang, which was also heavily counterfeited. Base weight was the English troy pound / 16 ounces / 480 grains at 373.242 grams.

Timeline

• 22.05.1901
• Currency law on the adoption of the Japanese gold standard; effective immediately (?)
• around 1902
• Issuance of subsidiary coins in the new standard (marked by a design that showed inspiration from Russian coins): ½ Won (silver), 5 Jeon (copper-nickel), 1 Jeon (copper). The coins were produced in small numbers and did not circulate.
• 18.01.1905
• Revised currency law on the full adoption of the Japanese currency; effective 01.06.1905
• 30.01.1905
• Agreement between the Korean goverment and the Japanese First National Bank which took on the role as (acting) central bank; effective 01.07.1905
• 26.07.1909
• Banking law [Bank of Korea Act, No. 22] on the establishment of the Seoul-based Bank of Korea as central bank; effective upon constitution of the bank on 24.11.1909

Valuation Regimes

• 1901-1910
• Fixed rate against gold, since 01.06.1905 nominally identical to the Japanese Yen

• ??.02.1911
• Currency law on the adoption of the Japanese Yen; effective 01.08.1911
• ??.03.1911
• Banking law [Bank of Chōsen Act, No. 48] on the reconstitution of the central bank as "Bank of Chōsen" with head office in Tokyo; effective 01.08.1911
• 01.08.1911
• Start of issuance of paper money by the Bank von Chōsen
  - 30.11.1915: Demonetization of the paper money of the First National Bank and the Bank of Korea
  - ??.??.????: Demonetization of the Korean coinage.