Daily Life > Banking, Money Matters

Korean 50,000 Won Note


Korean 50,000 Won Note

Korea’s long awaited 50,000 won bill (note) will begin circulating on 23 June 2009.  No longer will the 10,000 won note be the highest denomination in Korean money.

Plans for new bills have been in the works for some time, but the country has been divided on the issue. Proponents of larger denomination bills content that Korea’s currency hasn’t kept pace with greater wealth and costs in the country, while opponents believe that having notes greater than W10,000 will have a negative impact on Korean society through increased corruption, spiraling costs and excessive spending. Plans for the W100,000 note were shelved due to concerns about inflation.

The new W50,000 note will be 6mm bigger than the W10,000 note and predominantly yellow.

The figure on the bill is, for the first time, that of a woman - Shin Saim-dang, a renowned writer, artist and calligrapher and mother of Lee Yul-gok (also known as Yil), the scholar whose face is on the W5,000 note. The choice of this particular woman has also been controversial. Bank of Korea officials affirm that she was selected for her talent and because she embodies the cultural ideals of being dutiful to her parents, devoted to her husband, and dedicated to educating her children. Critics have indicated that someone not as representative of the traditional roles of ‘good wife and wise mother’ would have been more appropriate to modern Korean society.


The banknote itself is equipped with the latest anti-forgery measures, including holograms and optical variable ink.

The central bank will open a page on its Web site, www.bok.or.kr, with detailed information about the new 50,000 won bill in June 2009 (likely to be in Korean only).



Last Updated on


In the same header
ATM Bank Transfers ATM Basic Terms Korean-English
ATM Functions-Translation Korean-English Bank Checks as Cash
Banking at the Post Office Banking Hours in Korea
Banking Options for Children Banking Regulations for Foreign Account Holders
Banks and Securities Firms List Credit Cards for Non-Koreans
FX and International Banking from Korea Inside a Korean Bank - Help for First Time Customers
Insurance Coverage Joint Bank Accounts
Korean 50,000 Won Note Korean Currency
Online Banking Opening a Bank Account in Korea
Payments Without a Bank Account Taxation
SGVC-Recycling Milk Cartons-Cups, Jan-Dec 2018, Seocho-gu, SeoulHelp make our city cleaner!
IGVC Volunteer - KImchi Making for Charity, 13 Nov 2018,Yongsan-gu, SeoulMaking kimchi for charity is an annual event known as KIMJANG
Water and People 60-Second Film Festival, 1-30 Nov 2018 Submissions Period, KoreaContest open to applicants of all ages!
At the Movies This Week - SeoulClick here for a list of English language/subtitled movies and where they are playing in Seoul. For...
Advertisement
Korea International School-KIS, PK-12 English, Pangyo, Gyeonggi-do
JZ Associate
Seoul Foreign School, K-12 English School, Seodaemun, Seoul
A Plus Dental
TCIS Taejon Christian International School,1 Nov 2017
I want to convert
Cocoonfice, Business Center, Gangnam-gu, Seoul
KoreanClass101 - An online Korean learning system
Directory
EnglishClass101 - An online English learning system
Helpul telephone numbers seoul korea