Value of 1978 South Korean Won today

₩100 in 1978

₩793.99 in 2019

The inflation rate in South Korea between 1978 and today has been 693.99%, which translates into a total increase of ₩693.99. This means that 100 won in 1978 are equivalent to 793.99 won in 2019. In other words, the purchasing power of ₩100 in 1978 equals ₩793.99 today. The average annual inflation rate has been 5.06%.

Inflation timeline in South Korea (1978-2019)

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 (1978-2019) 693.26%
Total Inflation* 693.99%
Annual inflation avg. (1978-2019) 5.18%
Annual inflation avg.* 5.06%
CPI 1978 13.15
CPI 2019 104.35
CPI today* 104.45
₩1 in 1978 ₩7.93 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 41 years between 1978 and 2019 and the average inflation rate has been 5.0568%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.05)41 = ₩793.26

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 1978 was 13.15 and the CPI today is 104.45. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/13.15
= ₩793.26

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1978 ₩7.94 won today
₩5 won in 1978 ₩39.7 won today
₩10 won in 1978 ₩79.4 won today
₩50 won in 1978 ₩396.99 won today
₩100 won in 1978 ₩793.99 won today
₩500 won in 1978 ₩3,969.95 won today
₩1,000 won in 1978 ₩7,939.89 won today
₩5,000 won in 1978 ₩39,699.45 won today
₩10,000 won in 1978 ₩79,398.91 won today
₩50,000 won in 1978 ₩396,994.54 won today
₩100,000 won in 1978 ₩793,989.09 won today
₩500,000 won in 1978 ₩3,969,945.44 won today
₩1,000,000 won in 1978 ₩7,939,890.88 won today

Value of Won in time (by year)

Period Value
1978 100
1979 116.4
1980 141.08
1981 186.51
1982 212.04
1983 222.3
1984 226.66
1985 232.21
1986 239.21
1987 242.53
1988 257.21
1989 275.69
1990 289.66
1991 316.71
1992 346.01
1993 361.43
1994 382.4
1995 403.69
1996 422.88
1997 443.71
1998 472.88
1999 491.63
2000 498.29
2001 512.14
2002 528.34
2003 548.07
2004 566.81
2005 584.01
2006 599.31
2007 611.83
2008 633.89
2009 660.13
2010 678.62
2011 699.2
2012 728.28
2013 738.66
2014 747.11
2015 753.34
2016 761.87
2017 772.05
2018 782.92
2019 793.26
Today 793.99