Bank of Korea started printing its own banknote in 1962 with lower denominations such as 10 and 50 Jeon and also 10, 50, 100 and 500 won. However due to economic development in 60s and 70s, higher denomination notes with the face value of 5000 and 10000 Won were introduced by Bank of Korea in 1972 and 1973 respectively to meet the people need in their business activity.
Be specifically the 5000 Won note was released on 1 July 1972 and followed by the introduction of 10000 Won note on 12 June 1973. The 5000 Won note features the portrait of Yi I at the obverse and the picture of Bank of Korea building at its reverse side. Meanwhile, the 10000 Won note carries the portrait of King of Sejong at front and image of Gyeongbok Palace illustrated at the reverse of the note.