Banknotes Archives | Be Korea-savvy
Larger Bills Last Three Times Longer than Smaller Bills

Larger Bills Last Three Times Longer than Smaller Bills

SEOUL, Nov. 26 (Korea Bizwire) — South Korean banknotes have different lifetimes depending on their face value, with larger bills outliving the smallest bills by up to three times due mostly to the frequency of their use, a central bank report showed Tuesday. According to the report from the Bank of Korea (BOK), the country’s [...]

221 mln Coins Reborn as Banknotes

221 mln Coins Reborn as Banknotes

SEOUL, Jun. 21 (Korea Bizwire) — The Bank of Korea (BOK) said Thursday that it conducted a month-long “Pan-National Coin Exchange Campaign” in May, exchanging a total of 221 million coins worth 32.2 billion won (US$27.7 million) for banknotes. The campaign was led by the Korea Federation of Banks, Korean Federation of Community Credit Cooperatives, [...]