In order to stabilize and develop Korea’s economy, the government carried out a currency reform on June 10th [1962]… that replaced the “hwan” currency with a new “won” currency at a 10-to-1 rate. From this day forward, except for currency in denominations of 50-Hwan or smaller, all currency circulation and cash transactions are prohibited, and beginning the morning of the 10th, larger-denomination currency declarations are to be carried out in each district, where financial institutions will purchase this currency, and where citizens can queue up to exchange their old money for new currency. The purpose of this reform is to prevent malicious inflation and to utilize money tied up in loan sharking and the curb market, as well as money that is sleeping in citizens’ pockets, in order to effectively employ the five-year plan. From today, among those who arrived to exchange their money, a new awareness has begun, that with austerity and savings, there will be a better tomorrow. However, if we examine the currency reform in detail, we can see that much of the detrimental accumulation of money that has been associated with the chaotic society of the past has been used only for unproductive speculative projects and not for industrial funds, causing concern about the contraction of industrial capital and the growth of malicious inflation. Therefore, this currency reform will draw out of all of the hidden money, that is, unproductive idle funds, into a proper distribution process of the monetary economy and use it as a productive industrial fund. In other words, the government is trying to extract and save the money that is idling in the hands of the citizens in order to employ it as production funds necessary for the five-year economic development plan. With this currency reform, which will become the foundation of the economic revival of this country, we will overcome its minor inconveniences, work diligently, and save without fear, and by consent. By doing this successfully, our national income will increase and our lives will rapidly improve.