Value of 1978 South Korean Won today

₩100 in 1978
₩779.03 in 2022

The inflation rate in South Korea between 1978 and today has been 679.03%, which translates into a total increase of ₩679.03. This means that 100 won in 1978 are equivalent to 779.03 won in 2022. In other words, the purchasing power of ₩100 in 1978 equals ₩779.03 today. The average annual inflation rate between these periods has been 4.78%.

Inflation timeline in South Korea (1978 - 2022)

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 1978-2021 644.48%
Cumulative inflation 1978-today 679.03%
Avg. Annual inflation 1978-2021 4.78%
CPI 1978 14.51
CPI 2021 108.05
CPI 2022-04 (latest official data) 112.64
CPI today 113.07

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 1978 and 2021, use the corresponding CPI values:

Value2021
=Value1978 ×
CPI2021/CPI1978
=₩ 100 ×
108.05/14.51
₩744.48

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 113.07:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=₩ 100 ×
113.07/14.51
₩779.03

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 43 years between 1978 and 2021 and the average inflation rate was 4.7793%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₩100 × (1 + 0.047793)43
₩744.48

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1978 ₩7.44 won in 2021
₩5 won in 1978 ₩37.22 won in 2021
₩10 won in 1978 ₩74.45 won in 2021
₩50 won in 1978 ₩372.24 won in 2021
₩100 won in 1978 ₩744.48 won in 2021
₩500 won in 1978 ₩3,722.4 won in 2021
₩1,000 won in 1978 ₩7,444.81 won in 2021
₩5,000 won in 1978 ₩37,224.04 won in 2021
₩10,000 won in 1978 ₩74,448.09 won in 2021
₩50,000 won in 1978 ₩372,240.44 won in 2021
₩100,000 won in 1978 ₩744,480.88 won in 2021
₩500,000 won in 1978 ₩3,722,404.39 won in 2021
₩1,000,000 won in 1978 ₩7,444,808.78 won in 2021
Cumulative inflation From 1978 679.03%
Avg. annual inflation From 1978 4.78%
CPI 1978 14.51
CPI today 113.07

Value of Won over time (by year)

Period Value
1978 100
1979 118.32
1980 152.28
1981 184.79
1982 198.08
1983 204.86
1984 209.52
1985 214.67
1986 220.57
1987 227.3
1988 243.54
1989 257.42
1990 279.49
1991 305.58
1992 324.56
1993 340.15
1994 361.46
1995 377.66
1996 396.25
1997 413.84
1998 444.94
1999 448.55
2000 458.69
2001 477.34
2002 490.53
2003 507.77
2004 526
2005 540.48
2006 552.6
2007 566.61
2008 593.09
2009 609.44
2010 627.35
2011 652.61
2012 666.88
2013 675.56
2014 684.17
2015 689.01
2016 695.7
2017 709.23
2018 719.7
2019 722.45
2020 726.33
2021 744.48
2022-04 776.09
Today 779.03

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 |

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