Economy of Hungary city competitiveness ranking by EIU, Budapest is ranked above Tel Aviv, Lisbon, Moscow and Johannesburg, among others. Hungary maintains its own currency, the Hungarian forint (HUF), although the economy fulfills the Maastricht criteria with the exception of public debt, but the ratio of public debt to GDP is significantly below the EU average at 75.3% in 2015. The Hungarian National Bank—founded in 1924, after the dissolution of Austro-Hungarian Empire—is currently focusing on price stability with an inflation target of 3%. In the age of feudalism the key economic factor was land. The new economic and social orders created private ownership
Korean currency state. "jeon" was made the subunit of the currency that divided it into 100 equal parts. Bank of Joseon issued the currency for independent South Korea for the first time that too in banknotes only. The country then had to switch over to a new currency unit named "hwan" replacing won at 1 hwan = 100 won. Like South Korean won, this currency unit was also issued in banknotes initially but in 1959, coins denominated in hwan were also issued and were the first circulating coins in South Korea. Hwan had a peg with US dollar but with time it