Value of 1977 South Korean Won today

₩100 in 1977
₩949.48 in 2024

The inflation rate in South Korea between 1977 and today has been 849.48%, which translates into a total increase of ₩849.48. This means that 100 won in 1977 are equivalent to 949.48 won in 2024. In other words, the purchasing power of ₩100 in 1977 equals ₩949.48 today. The average annual inflation rate between these periods has been 4.91%.

Inflation timeline in South Korea (1977 - 2024)

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 1977-2023 827.68%
Cumulative inflation 1977-today 849.48%
Avg. Annual inflation 1977-2023 4.96%
CPI 1977 12.68
CPI 2023 117.63
CPI 2024-04 (latest official data) 120.17
CPI today 120.4

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 1977 and 2023, use the corresponding CPI values:

Value2023
=Value1977 ×
CPI2023/CPI1977
=₩ 100 ×
117.63/12.68
₩927.68

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.4:

Valuetoday
=Value1977 ×
CPItoday/CPI1977
=₩ 100 ×
120.4/12.68
₩949.48

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 46 years between 1977 and 2023 and the average inflation rate was 4.9616%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.049616)46
₩927.68

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1977 ₩9.28 won in 2023
₩5 won in 1977 ₩46.38 won in 2023
₩10 won in 1977 ₩92.77 won in 2023
₩50 won in 1977 ₩463.84 won in 2023
₩100 won in 1977 ₩927.68 won in 2023
₩500 won in 1977 ₩4,638.39 won in 2023
₩1,000 won in 1977 ₩9,276.78 won in 2023
₩5,000 won in 1977 ₩46,383.89 won in 2023
₩10,000 won in 1977 ₩92,767.78 won in 2023
₩50,000 won in 1977 ₩463,838.89 won in 2023
₩100,000 won in 1977 ₩927,677.79 won in 2023
₩500,000 won in 1977 ₩4,638,388.94 won in 2023
₩1,000,000 won in 1977 ₩9,276,777.87 won in 2023
Cumulative inflation From 1977 849.48%
Avg. annual inflation From 1977 4.91%
CPI 1977 12.68
CPI today 120.4

Value of Won over time (by year)

Period Value
1977 100
1978 114.46
1979 135.43
1980 174.3
1981 211.52
1982 226.73
1983 234.48
1984 239.81
1985 245.71
1986 252.47
1987 260.17
1988 278.76
1989 294.65
1990 319.91
1991 349.76
1992 371.5
1993 389.33
1994 413.73
1995 432.27
1996 453.55
1997 473.69
1998 509.28
1999 513.42
2000 525.01
2001 546.37
2002 561.46
2003 581.19
2004 602.06
2005 618.64
2006 632.51
2007 648.54
2008 678.86
2009 697.57
2010 718.07
2011 746.98
2012 763.32
2013 773.25
2014 783.11
2015 788.64
2016 796.3
2017 811.79
2018 823.77
2019 826.92
2020 831.36
2021 852.13
2022 895.5
2023 927.68
2024-04 947.67
Today 949.48

All available years

Today's value of south korean won by year:

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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