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Trip to the Bank of Korea Money Museum
Edit by. ByungOuk Yu | Published. 2018.04.04 15:47 | Count : 200

Located in the Namdaemoon-ro in Seoul, there is the money museum in the Bank of Korea, the central bank of Korea like the Fed in the U.S. It is an educational museum where many people including children and teenagers could learn about money and the complex concept of Economics in an easier and more entertaining way. The money museum is divided into two floors: one is the currency gallery on the first floor which not only includes the currencies that Korea, China, and Japan used during the past generations, but also the unique currencies of all countries around the world. 

[Currency Gallery in the Bank of Korea Museum - photographed: ByungOuk Yu]

Especially, this museum contains exhibitions and descriptions of Korean currency from ancient coins to the money that Koreans occupied by the Japanese, which helps people to understand the history easily. In addition, the visitors could efficiently learn how to identify counterfeit money, the exchange of damaged currency, the production and issuance of currency, and the circulation of currency. For example, if we put a paper money into the currency validator machine in the room, it tells us whether the money is a fake or true one.

[Teenager Visitors in the Museum – photographed ByungOuk Yu]]

Furthermore, if you are a middle/high school student who is interested in the roles of the central bank of Korea, it will be very useful to visit the Korea’s central bank. The museum shows a variety of exhibitions to easily explain the roles of the Bank of Korea.  For your information, the key roles include as follows:

- implementing monetary policyby changing key interest rates and money supplies

- acting as the banker’s bank and serving as the government’s bank

- issuing our country’s currency

- managing payment and settlement system

- compiling various statistics needed for monetary policies 

In the second floor of the museum, children could have the opportunity to print money on their own, and there is a popular experience room where they could enjoy a sense of reality while experiencing. One of the most exciting experiences is that one can make a fake paper money with her or his own face. In addition, there is a replica vault where you can see a pile of fake paper money. You can tell the weight of the money by picking up the box filled with fifty thousand won in cash. Next to the replica vault room, there is a exhibition for world currencies, which are used in various countries. You can experience each country’s currency by playing the games.

Also, there is an exhibition hall that officially opens every three or four months. Last winter, there was a beautifully designed exhibition made in order to celebrate the Pyeongchang Winter Olympics with the concept of “The Winter Olympics of Money”. It exhibits and kindly describes the commemorative money featuring the Olympic Winter Games, which will remain in history, so it is gaining huge popularity among the visitors.

[The Special Gallery for Commemorating the Olympic Winter Games - photographed: ByungOuk Yu]

Nowadays, the weather is getting warmer but people don’t have the opportunity to enjoy the beautiful weather because there is a large amount of fine dust in the sky. Therefore, I hope many families and friends have the chance to visit the indoor Bank of Korea money museum and have fantastic experience about knowing the currencies of various countries. Trust me. It will be a great and unforgettable moment.For your information, the museum hours are from 10 in the morning to 5 in the afternoon from Tuesday through Sunday. The admission fee is free.

 

 









ByungOuk Yu
Grade 11
Seoul Scholars International

ByungOuk Yu  student_reporter@dherald.com

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