# Inflation calculator - South Korean Won

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

₩100 in 1953
₩32,865.21 in 2023

The inflation rate in South Korea between 1953 and 2023 was 32,765.21%, which translates into a total increase of ₩32,765.21. This means that 100 won in 1953 are equivalent to 32,865.21 won in 2023. In other words, the purchasing power of ₩100 in 1953 equals ₩32,865.21 in 2023. The average annual inflation rate between these periods was 8.63%.

## Inflation timeline in South Korea (1953 - 2023)

The following chart depicts the equivalence of ₩100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (KRW) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1953 to 2023 32,765.21%
Avg. Annual inflation from 1953 to 2023 8.63%
CPI 1953 0.36
CPI 2023 117.63

## How to calculate the time value of money with inflation data?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

### Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1953 and 2023, use the corresponding CPI values:

Value2023
=Value1953 ×
CPI2023/CPI1953
=₩ 100 ×
117.63/0.36
₩32,865.21

### Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

• FV: Future Value
• PV: Present Value
• i: Interest rate (inflation)
• n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are ₩100 worth today. There are 70 years between 1953 and 2023 and the average inflation rate was 8.6309%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.086309)70
₩32,865.21

## South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1953 ₩328.65 won in 2023
₩5 won in 1953 ₩1,643.26 won in 2023
₩10 won in 1953 ₩3,286.52 won in 2023
₩50 won in 1953 ₩16,432.6 won in 2023
₩100 won in 1953 ₩32,865.21 won in 2023
₩500 won in 1953 ₩164,326.04 won in 2023
₩1,000 won in 1953 ₩328,652.08 won in 2023
₩5,000 won in 1953 ₩1,643,260.39 won in 2023
₩10,000 won in 1953 ₩3,286,520.78 won in 2023
₩50,000 won in 1953 ₩16,432,603.89 won in 2023
₩100,000 won in 1953 ₩32,865,207.78 won in 2023
₩500,000 won in 1953 ₩164,326,038.9 won in 2023
₩1,000,000 won in 1953 ₩328,652,077.8 won in 2023
 Cumulative inflation 1953-2023 32,765.21% Avg. annual inflation 1953-2023 8.63% CPI 1953 0.36 CPI 2023 117.63

### Value of Won over time (by year)

Period Value
1953 100
1954 137.13
1955 230.79
1956 283.85
1957 349.45
1958 337.28
1959 348.01
1960 375.73
1961 406.52
1962 433.43
1963 523.11
1964 677.23
1965 768.99
1966 855.58
1967 948.69
1968 1,050.88
1969 1,181.08
1970 1,369.47
1971 1,554.51
1972 1,736.22
1973 1,792.14
1974 2,227.7
1975 2,790.18
1976 3,217.84
1977 3,542.74
1978 4,055.03
1979 4,798.05
1980 6,174.98
1981 7,493.44
1982 8,032.28
1983 8,307.03
1984 8,495.93
1985 8,704.85
1986 8,944.24
1987 9,217
1988 9,875.66
1989 10,438.59
1990 11,333.52
1991 12,391.25
1992 13,161.15
1993 13,793.02
1994 14,657.27
1995 15,314.03
1996 16,068.17
1997 16,781.43
1998 18,042.31
1999 18,188.99
2000 18,599.91
2001 19,356.29
2002 19,890.96
2003 20,590.1
2004 21,329.42
2005 21,916.79
2006 22,408.24
2007 22,976.19
2008 24,050.08
2009 24,713.02
2010 25,439.4
2011 26,463.59
2012 27,042.36
2013 27,394.28
2014 27,743.49
2015 27,939.45
2016 28,210.94
2017 28,759.45
2018 29,183.91
2019 29,295.66
2020 29,453.07
2021 30,188.92
2022 31,725.39
2023 32,865.21

All available years

Today's value of south korean won by year:

1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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