Economy of Hungary account transactions, and subsequent to OECD membership in 1996, for almost all capital account transactions as well. Since 1995, Hungary has pegged the forint against a basket of currencies (in which the U.S. dollar is 30%), and the central rate against the basket is devalued at a preannounced rate, originally set at 0.8% per month, the Forint is now an entirely free-floating currency. The government privatization program ended on schedule in 1998: 80% of GDP is now produced by the private sector, and foreign owners control 70% of financial institutions, 66% of industry, 90% of telecommunications, and 50% of the
Korean currency also got devaluated. This was the reason for the reintroduction of won in 1962 as the official currency unit. South Korean currency was still pegged to the US dollar until in 1997 when it was floated into the world market. The Joseon Dynasty issued its first copper coins. In 1888, shortly before the yang was introduced, a small number of coins denominated in hwan (圜) and mun (文) were minted. Even though the yang had been used in past it was reintroduced as the main currency in 1892. One yang was subdivided in 100 fun, making it the first Korean