Value of 1956 South Korean Won today

₩100 in 1956

₩12,626.79 in 2019

The inflation rate in South Korea between 1956 and today has been 12,526.79%, which translates into a total increase of ₩12,526.79. This means that 100 won in 1956 are equivalent to 12,626.79 won in 2019. In other words, the purchasing power of ₩100 in 1956 equals ₩12,626.79 today. The average annual inflation rate has been 7.85%.

Inflation timeline in South Korea (1956-2019)

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 (1956-2019) 12,518.93%
Total Inflation* 12,526.79%
Annual inflation avg. (1956-2019) 7.98%
Annual inflation avg.* 7.85%
CPI 1956 0.83
CPI 2019 104.35
CPI today* 104.42
₩1 in 1956 ₩126.19 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 63 years between 1956 and 2019 and the average inflation rate has been 7.8531%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.08)63 = ₩12,618.93

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 1956 was 0.83 and the CPI today is 104.42. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/0.83
= ₩12,618.93

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1956 ₩126.27 won today
₩5 won in 1956 ₩631.34 won today
₩10 won in 1956 ₩1,262.68 won today
₩50 won in 1956 ₩6,313.4 won today
₩100 won in 1956 ₩12,626.79 won today
₩500 won in 1956 ₩63,133.97 won today
₩1,000 won in 1956 ₩126,267.95 won today
₩5,000 won in 1956 ₩631,339.74 won today
₩10,000 won in 1956 ₩1,262,679.48 won today
₩50,000 won in 1956 ₩6,313,397.42 won today
₩100,000 won in 1956 ₩12,626,794.85 won today
₩500,000 won in 1956 ₩63,133,974.23 won today
₩1,000,000 won in 1956 ₩126,267,948.46 won today

Value of Won in time (by year)

Period Value
1956 100
1957 140.39
1958 137.3
1959 142.02
1960 153.42
1961 160.75
1962 167.59
1963 195.93
1964 251.79
1965 304.24
1966 333.45
1967 384.33
1968 428.6
1969 475.86
1970 553.39
1971 633.17
1972 690.65
1973 754.08
1974 818.08
1975 1,034.48
1976 1,308.11
1977 1,433.7
1978 1,590.76
1979 1,851.6
1980 2,244.22
1981 2,966.9
1982 3,373.13
1983 3,536.23
1984 3,605.71
1985 3,693.94
1986 3,805.28
1987 3,858.09
1988 4,091.63
1989 4,385.55
1990 4,607.82
1991 5,038.14
1992 5,504.2
1993 5,749.56
1994 6,083.08
1995 6,421.81
1996 6,727.03
1997 7,058.38
1998 7,522.38
1999 7,820.71
2000 7,926.64
2001 8,146.98
2002 8,404.68
2003 8,718.49
2004 9,016.58
2005 9,290.24
2006 9,533.55
2007 9,732.72
2008 10,083.77
2009 10,501.1
2010 10,795.2
2011 11,122.67
2012 11,585.23
2013 11,750.41
2014 11,884.77
2015 11,983.81
2016 12,119.49
2017 12,281.53
2018 12,454.46
2019 12,618.93
Today 12,626.79