Value of 1977 South Korean Won today

₩100 in 1977

₩880.36 in 2019

The inflation rate in South Korea between 1977 and today has been 780.36%, which translates into a total increase of ₩780.36. This means that 100 won in 1977 are equivalent to 880.36 won in 2019. In other words, the purchasing power of ₩100 in 1977 equals ₩880.36 today. The average annual inflation rate has been 5.19%.

Inflation timeline in South Korea (1977-2019)

The following chart depicts the equivalence of ₩100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1977-2019) 780.16%
Total Inflation* 780.36%
Annual inflation avg. (1977-2019) 5.31%
Annual inflation avg.* 5.19%
CPI 1977 11.86
CPI 2019 104.35
CPI today* 104.37
₩1 in 1977 ₩8.8 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 42 years between 1977 and 2019 and the average inflation rate has been 5.1886%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.05)42 = ₩880.16

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 1977 was 11.86 and the CPI today is 104.37. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/11.86
= ₩880.16

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1977 ₩8.8 won today
₩5 won in 1977 ₩44.02 won today
₩10 won in 1977 ₩88.04 won today
₩50 won in 1977 ₩440.18 won today
₩100 won in 1977 ₩880.36 won today
₩500 won in 1977 ₩4,401.79 won today
₩1,000 won in 1977 ₩8,803.58 won today
₩5,000 won in 1977 ₩44,017.9 won today
₩10,000 won in 1977 ₩88,035.81 won today
₩50,000 won in 1977 ₩440,179.04 won today
₩100,000 won in 1977 ₩880,358.09 won today
₩500,000 won in 1977 ₩4,401,790.44 won today
₩1,000,000 won in 1977 ₩8,803,580.88 won today

Value of Won in time (by year)

Period Value
1977 100
1978 110.96
1979 129.15
1980 156.53
1981 206.94
1982 235.27
1983 246.65
1984 251.5
1985 257.65
1986 265.42
1987 269.1
1988 285.39
1989 305.89
1990 321.39
1991 351.41
1992 383.92
1993 401.03
1994 424.29
1995 447.92
1996 469.21
1997 492.32
1998 524.68
1999 545.49
2000 552.88
2001 568.25
2002 586.22
2003 608.11
2004 628.9
2005 647.99
2006 664.96
2007 678.85
2008 703.34
2009 732.45
2010 752.96
2011 775.8
2012 808.06
2013 819.59
2014 828.96
2015 835.87
2016 845.33
2017 856.63
2018 868.69
2019 880.16
Today 880.36