First Japan–Korea Agreement

Japan placed a financial adviser, Megata, and a diplomatic adviser, Stevens, in the Korean government; nothing in finance or diplomacy could be done without their consent ("government by advisers").

Japanese advisers were also installed in the army, police, royal household and education ministries, though the agreement did not provide for them. In 1905 Megata’s currency reform replaced Korea’s nickel coins with notes of Japan’s Dai-Ichi Bank, exchanging poor coins at a discount or not at all, a heavy blow to Korean merchants and banks.