SEOUL, Jan. 10 (Korea Bizwire) — Of all banknotes in circulation in South Korea last year, 50,000 won (US$46.70) bills accounted for just over 80 percent of the total value, as demand for the largest-denominated note jumped, according to the central bank Tuesday.
There was 85.5 trillion won worth of outstanding 50,000 won notes in circulation at the end of November last year, accounting for 80.1 percent of the total, the Bank of Korea (BOK) said.
In comparison, outstanding 10,000 won notes accounted for 14.7 percent.
South Korea began issuing the 50,000 won bill in 2009.
Since then, the BOK has issued about 10 trillion won worth of 50,000 won bills a year.
In mid-2011, 50,000 won bills accounted for 50 percent of the value of all banknotes.