Person1853 – 1926
Megata Tanetarō
Japanese official made financial adviser to the Korean Empire by the first Japan–Korea Agreement; carried out the 1905 currency reorganization
Japanese official made financial adviser to the Korean Empire by the first Japan–Korea Agreement; carried out the 1905 currency reorganization
The Japanese financial adviser Megata had the Korean Empire’s nickel coins and copper cash exchanged for notes of Japan’s Dai-Ichi Bank. Korean merchants and banks were badly hurt and Korea’s finances were tied to Japan.
From Geonwon Jungbo to the 1905 currency reform — how coins took hold in an economy of rice and cloth, and how monetary sovereignty was lost