Daegak-Guksa Uicheon, a Korean Buddhist monk, left behind a written proposal which highlighted necessity of the national coinage in Goryeo Dynasty. The proposal has been adopted as one of the most important research materials in the academia because o...
Daegak-Guksa Uicheon, a Korean Buddhist monk, left behind a written proposal which highlighted necessity of the national coinage in Goryeo Dynasty. The proposal has been adopted as one of the most important research materials in the academia because of a lack of data in relation to the minting coinage policy of King Sukjong. However, there have been not enough efforts for the systematic and comprehensive analysis on the proposal itself although it has been referred to by numerous studies. One of this study's objectives, with acknowledging this problem, is to reinterpret the content of the proposal and analyze the structure of it, which could give a reasonable basis to understand the proposal systematically and comprehensively.
We were poised to find out Uicheon’s purposes with the proposal by reviewing related historical documents, and concluded that he had three intentions which are facilitating commerce activities of buddhist temples, helping close associates of King Sukjong to consolidate their economic status, and protecting the principles of Bo and Go. It seems that the proposal of Uicheon with the three intentions had a direct impact on the minting policy of King Sukjong during his reign. It impacted Sukjong’s Gyo, the royal announcement, declaring the purpose of introducing the national coinage, and suggested idealogical basis and future direction of the policy.
Besides, Uicheon’s assertion, in his proposal, that an official coinage should be issued as a highly-valued ones was reflected in King Sukjong’s policy as proved by Haedong-Tongbo coins. Up until now, Haedong-Tongbo coins have been found in various types and large amount, indicating that the coins were produced for a long time and used widely. For that, the supply of Haedong-Tongbo coins was thought to be continued even after the reign of King Sukjong.
From this perspective, a variety of economic policies adopted in line with the introduction of Haedong-Tongbo were likely to be designed to facilitate national commerce through use of the national coinage as intended by Uicheon. This might be the result of political willingness of King Sukjong to let their associates obtain economic upper hand in the society. Activation of commerce through use of national coinage led to facilitation of remote business activities of buddhist temples, which were a key player of the national economy, satisfying the intention of Uicheon. In addition, Bo and Ko were maintained until the end of Goryeo Dynasty, indicating their principles were protected as Uicheon intended with the proposal.
As a result, King Sukjong’s minting coinage policy needs to be reevaluated with a different perspective based on Uicheon’s true intention of the proposal. The policy was not a failure, but rather achieved some of the policy goals.