This undated file photo shows bank officials examining a magnified image of what appears to a fake banknote at a Seoul bank. (Yonhap)
SEOUL, Jan. 16 (Korea Bizwire) — The number of fabricated South Korean banknotes hit a record low in 2022 on increased non-cash transactions amid the pandemic, central bank data showed Monday.
The number of counterfeit banknotes found in South Korea last year came to 150, down from the previous record low of 176 a year earlier, according to the data from the Bank of Korea (BOK).
The 2022 figure was the lowest ever since related data started to be compiled in 1998.
The decline is attributed mostly to increased non-cash transactions, such as online and credit card settlements, a trend that has been expanded in the wake of the coronavirus pandemic.
Of the fake bills, 5,000 won (US$4.03) bills accounted for 50 percent of the total with 75, while 10,000 won counterfeit bills came to 43, making up 28.7 percent.
The highest-denomination bills also made up 15.3 percent of the total, with 23 50,000 won notes found last year.
The face value of the fake bills found last year amounted to 1.96 million won, compared with 1.99 million won a year earlier, the data showed.
(Yonhap)
