SEOUL, Feb. 3 (Korea Bizwire) — The Bank of Korea (BOK) disposed of nearly 3.38 trillion won ($23.1 billion) worth of damaged or contaminated banknotes and coins in 2024, a slight decrease from the previous year. According to a report released on Monday, the central bank discarded approximately 474.89 million currency units last year, down 1.9% [...]
SEOUL, Jan. 17 (Korea Bizwire) — Bills and coins that the South Korean central bank discarded due to damage grew 2.3 percent in 2022 as increased banknotes were redeemed amid high interest rates, data showed Tuesday. A total of 412.68 million damaged bills and coins were taken out of circulation last year, down from 403.52 [...]
SEOUL, Aug. 4 (Korea Bizwire) — The amount of bills and coins discarded due to severe damage shrank 14.1 percent on-year in the first half amid increased prevalence of non-cash transactions, data showed Thursday. A total of 191.66 million damaged bills and coins were discarded in the January-June period, compared with 223.10 million tallied in [...]
SEOUL, Feb. 4 (Korea Bizwire) — The amount of bills and coins that the central bank discarded due to damage declined nearly 40 percent as people increased the use of non-cash payments for consumption, data showed Friday. A total of 403.5 million damaged bills and coins were discarded last year, down 37.2 percent from 642.6 [...]
SEOUL, Jan. 16 (Korea Bizwire) — Both the volume and face value of damaged banknotes and coins found in South Korea rose to record highs last year, data from the central bank showed Wednesday. A record 627 million damaged bills and coins were discarded by the Bank of Korea (BOK) in 2018, up 4.1 percent [...]