South Korea Banknotes Catalog

The history of banknotes in South Korea is a fascinating journey through the country's economic and cultural evolution. From its earliest issues to today's modern banknotes, the South Korean won has undergone numerous changes that reflect the nation's progress.

Current banknotes in circulation

The South Korean banknotes in circulation belong to the series issued in 2009. This series includes denominations of 1,000, 5,000, 10,000 and 50,000 won. Each banknote features an important historical figure on the obverse, such as King Sejong the Great on the 10,000 won bill, while the reverse shows cultural and natural elements representative of the country. In 2009, the 50,000 won banknote, the highest denomination to date, was introduced in response to the country's economic growth.

Historic banknotes and milestones in South Korean banknote production

South Korea' s first modern banknotes were issued in 1953, following the Korean War. These early issues reflected the need to establish an independent national and economic identity. An important milestone was the introduction of the current won in 1962, replacing the hwan. Since then, several series of banknotes have been produced, each incorporating improvements in design and security. In 2018, the Bank of Korea announced plans for an eventual transition to a cashless society, which could mark the end of an era in the history of South Korean banknotes.