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HOME > Hamel Pavilion > Hamel's view of Joseon > Economy of Joseon



National finance is provided by revenue collected in farm and marine products.


All of towns have a warehouse to store harvests to be paid as taxes to the king or tax rice.


Occasionally, this government rice is lent to common people at 10% interest per annum under the condition of returning it back in the harvest time. It refers to the exchanging grain system in the Joseon Dynasty.


Some local officials are involved in corruption in 1662 when drought and famine hit. National warehouses in some villages where military rice is kept were robbed, but the criminals remained at large.

But, it is just a deception made by high officials.







Untitled Document
Untitled Document