Value of 1953 South Korean Won today

₩100 in 1953
₩33,492 in 2023

The inflation rate in South Korea between 1953 and today has been 33,392%, which translates into a total increase of ₩33,392. This means that 100 won in 1953 are equivalent to 33,492 won in 2023. In other words, the purchasing power of ₩100 in 1953 equals ₩33,492 today. The average annual inflation rate between these periods has been 8.66%.

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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1953-2022 31,624.89%
Cumulative inflation 1953-today 33,392%
Avg. Annual inflation 1953-2022 8.71%
CPI 1953 0.36
CPI 2022 113.55
CPI 2023-10 (latest official data) 119.51
CPI today 119.87

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 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 2022, use the corresponding CPI values:

Value2022
=Value1953 ×
CPI2022/CPI1953
=₩ 100 ×
113.55/0.36
₩31,724.89

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.87:

Valuetoday
=Value1953 ×
CPItoday/CPI1953
=₩ 100 ×
119.87/0.36
₩33,492

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 69 years between 1953 and 2022 and the average inflation rate was 8.7057%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=₩100 × (1 + 0.087057)69
₩31,724.89

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1953 ₩317.25 won in 2022
₩5 won in 1953 ₩1,586.24 won in 2022
₩10 won in 1953 ₩3,172.49 won in 2022
₩50 won in 1953 ₩15,862.44 won in 2022
₩100 won in 1953 ₩31,724.89 won in 2022
₩500 won in 1953 ₩158,624.43 won in 2022
₩1,000 won in 1953 ₩317,248.87 won in 2022
₩5,000 won in 1953 ₩1,586,244.35 won in 2022
₩10,000 won in 1953 ₩3,172,488.69 won in 2022
₩50,000 won in 1953 ₩15,862,443.45 won in 2022
₩100,000 won in 1953 ₩31,724,886.9 won in 2022
₩500,000 won in 1953 ₩158,624,434.51 won in 2022
₩1,000,000 won in 1953 ₩317,248,869.01 won in 2022
Cumulative inflation From 1953 33,392%
Avg. annual inflation From 1953 8.66%
CPI 1953 0.36
CPI today 119.87

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 31,724.89
2023-10 33,390.94
Today 33,492

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 |

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