Former Bank of Chosen Headquarters (Bank of Korea Money Museum)

The Bank of Chosen (朝鮮銀行, Chōsen Ginkō) was established in 1911 as the successor to the Bank of Korea (韓国銀行, established 1909), which itself had taken over the central banking functions from the Dai-Ichi Bank (第一銀行). It served as the central bank and bank of issue for Korea under Japanese colonial rule, with its operations eventually extending to Manchuria, northern China, and other parts of the Japanese empire.

The headquarters building in Keijō (京城, colonial Seoul) was originally commissioned in 1907 as a branch of the Dai-Ichi Bank. The renowned architect Tatsuno Kingo (辰野金吾, 1854–1919), professor at the Imperial University of Tokyo and designer of the Bank of Japan headquarters (1896) and Tokyo Station (1914), supervised the design, with his disciple Nakamura Yoshihei handling the detailed plans. Construction began in November 1907, but during the building process, the Korean banking system was reorganized: the Dai-Ichi Bank's central banking role was transferred first to the Bank of Korea in 1909, then to the Bank of Chosen in 1911. The building was completed on January 1, 1912, opening directly as the Bank of Chosen headquarters.

The building exemplifies the early 20th-century eclectic architectural style that Tatsuno favored, blending French Renaissance and château elements. Its symmetrical, centralized plan covers a floor area of 8,703.5 square meters. While the structural frame is reinforced concrete and steel, the exterior walls are entirely clad in granite quarried near Heunginjimun Gate (興仁之門, Seoul's East Gate). The ornate façade, with its domed towers and elaborate stonework, made it one of the most imposing colonial structures in Seoul.

As the central bank of colonial Korea, the Bank of Chosen issued banknotes, managed the colonial monetary system, and provided financing for Japanese industrial and commercial enterprises across the empire. Its reach extended far beyond Korea — it operated branches in Manchuria, Beijing, Shanghai, and other major cities, serving as a key financial instrument of Japan's imperial expansion. The bank played a critical role in wartime economic mobilization, channeling resources to support Japan's military campaigns throughout Asia.

Following Korea's liberation in August 1945, the Bank of Chosen was dissolved and replaced by the Bank of Korea (한국은행), newly established on June 12, 1950, which continued to use the building as its head office. The building suffered severe damage during the Korean War (1950–1953) and underwent extensive restoration between May 1956 and October 1958. In 1981, it was designated South Korean National Historic Site No. 280 in recognition of its architectural and historical significance. When the Bank of Korea relocated to a new tower building in 1987, the historic structure underwent façade and roof restoration (1987–1989). The last bank offices vacated the building in December 2000, and in June 2001 it reopened as the Bank of Korea Money Museum (韓国銀行貨幣博物館), a free public museum dedicated to the history of Korean currency and monetary policy. Today it stands as one of the most significant surviving examples of Japanese colonial-era architecture on the Korean Peninsula.