S. Korean Banknotes’ Life Span Grows on Increased Reliance on Noncash Transactions

SEOUL, Dec. 7 (Korea Bizwire) — South Korean banknotes saw their lifetimes increase on-year in 2022 as people use less cash and depend more on credit cards and internet banking for transactions, a central bank report showed Wednesday. According to the report from the Bank of Korea (BOK), the country’s smallest denomination bills, 1,000-won notes, [...]