The purpose of this study is to analyze how banking facilities had changed after the Japanese Currency Reform. The result of research follows as; Japanese Currency Reform (1905~1909) weakened the basis of traditional credit and merchants in Chosun Dyn...
The purpose of this study is to analyze how banking facilities had changed after the Japanese Currency Reform. The result of research follows as; Japanese Currency Reform (1905~1909) weakened the basis of traditional credit and merchants in Chosun Dynasty, which were Kaegju, Eum, Uypjeon, and Weoheok, and forced the Chosun eonomy under the Japanese capitalism. New banking facilities were established during the Japanese currency reform. Banking facilities in 1909 were established in major cities in the nation including Seoul, Busan, Incheon, and Wonsan where many Japanese migrated. A new banking system was also established by the Chosun private capital sector in Seoul and Suwon. Much of the bank loans were allocated for Japanese commercial activities in Chosun. The Chosunsiksan bank established a national banking network in 1943. Many small-scale banks were merged into two major banks, Johueng bank and Chosunsangup bank, by the New Bank Act in 1928. In 1943, as many as 36 banks were located in Seoul, as a result, the city became the center of financial resources.