Value of 1953 South Korean Won today

₩100 in 1953

₩38,959.31 in 2019

The inflation rate in South Korea between 1953 and today has been 38,859.31%, which translates into a total increase of ₩38,859.31. This means that 100 won in 1953 are equivalent to 38,959.31 won in 2019. In other words, the purchasing power of ₩100 in 1953 equals ₩38,959.31 today. The average annual inflation rate has been 9.31%.

Inflation timeline in South Korea (1953-2019)

The following chart ilustrates the equivalence of ₩100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1953-2019) 38,835.03%
Total Inflation* 38,859.31%
Annual inflation avg. (1953-2019) 9.46%
Annual inflation avg.* 9.31%
CPI 1953 0.27
CPI 2019 104.35
CPI today* 104.42
₩1 in 1953 ₩389.35 in 2019

* Values extrapolated from the last official data to obtain today's values.

How to calculate today's value of money after inflation?

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

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 66 years between 1953 and 2019 and the average inflation rate has been 9.3115%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.09)66 = ₩38,935.03

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1953 was 0.27 and the CPI today is 104.42. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/0.27
= ₩38,935.03

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1953 ₩389.59 won today
₩5 won in 1953 ₩1,947.97 won today
₩10 won in 1953 ₩3,895.93 won today
₩50 won in 1953 ₩19,479.65 won today
₩100 won in 1953 ₩38,959.31 won today
₩500 won in 1953 ₩194,796.53 won today
₩1,000 won in 1953 ₩389,593.06 won today
₩5,000 won in 1953 ₩1,947,965.31 won today
₩10,000 won in 1953 ₩3,895,930.62 won today
₩50,000 won in 1953 ₩19,479,653.1 won today
₩100,000 won in 1953 ₩38,959,306.19 won today
₩500,000 won in 1953 ₩194,796,530.97 won today
₩1,000,000 won in 1953 ₩389,593,061.94 won today

Value of Won in time (by year)

Period Value
1953 100
1954 164.32
1955 243.22
1956 308.54
1957 433.17
1958 423.62
1959 438.2
1960 473.37
1961 495.98
1962 517.09
1963 604.53
1964 776.89
1965 938.7
1966 1,028.84
1967 1,185.82
1968 1,322.44
1969 1,468.24
1970 1,707.44
1971 1,953.6
1972 2,130.95
1973 2,326.69
1974 2,524.16
1975 3,191.83
1976 4,036.12
1977 4,423.61
1978 4,908.22
1979 5,713.01
1980 6,924.42
1981 9,154.23
1982 10,407.61
1983 10,910.85
1984 11,125.22
1985 11,397.45
1986 11,740.98
1987 11,903.92
1988 12,624.51
1989 13,531.39
1990 14,217.2
1991 15,544.91
1992 16,982.91
1993 17,739.97
1994 18,769.03
1995 19,814.14
1996 20,755.9
1997 21,778.24
1998 23,209.9
1999 24,130.39
2000 24,457.24
2001 25,137.07
2002 25,932.18
2003 26,900.43
2004 27,820.17
2005 28,664.54
2006 29,415.25
2007 30,029.78
2008 31,112.95
2009 32,400.58
2010 33,308.01
2011 34,318.42
2012 35,745.6
2013 36,255.28
2014 36,669.82
2015 36,975.4
2016 37,394.04
2017 37,894.02
2018 38,427.58
2019 38,935.03
Today 38,959.31