Value of 1979 South Korean Won today

₩100 in 1979
₩701.07 in 2024

The inflation rate in South Korea between 1979 and today has been 601.07%, which translates into a total increase of ₩601.07. This means that 100 won in 1979 are equivalent to 701.07 won in 2024. In other words, the purchasing power of ₩100 in 1979 equals ₩701.07 today. The average annual inflation rate between these periods has been 4.42%.

Inflation timeline in South Korea (1979 - 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 1979-2023 584.97%
Cumulative inflation 1979-today 601.07%
Avg. Annual inflation 1979-2023 4.47%
CPI 1979 17.17
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 1979 and 2023, use the corresponding CPI values:

Value2023
=Value1979 ×
CPI2023/CPI1979
=₩ 100 ×
117.63/17.17
₩684.97

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

Valuetoday
=Value1979 ×
CPItoday/CPI1979
=₩ 100 ×
120.4/17.17
₩701.07

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 44 years between 1979 and 2023 and the average inflation rate was 4.4702%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.044702)44
₩684.97

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1979 ₩6.85 won in 2023
₩5 won in 1979 ₩34.25 won in 2023
₩10 won in 1979 ₩68.5 won in 2023
₩50 won in 1979 ₩342.48 won in 2023
₩100 won in 1979 ₩684.97 won in 2023
₩500 won in 1979 ₩3,424.85 won in 2023
₩1,000 won in 1979 ₩6,849.7 won in 2023
₩5,000 won in 1979 ₩34,248.5 won in 2023
₩10,000 won in 1979 ₩68,497 won in 2023
₩50,000 won in 1979 ₩342,484.99 won in 2023
₩100,000 won in 1979 ₩684,969.98 won in 2023
₩500,000 won in 1979 ₩3,424,849.9 won in 2023
₩1,000,000 won in 1979 ₩6,849,699.79 won in 2023
Cumulative inflation From 1979 601.07%
Avg. annual inflation From 1979 4.42%
CPI 1979 17.17
CPI today 120.4

Value of Won over time (by year)

Period Value
1979 100
1980 128.7
1981 156.18
1982 167.41
1983 173.13
1984 177.07
1985 181.42
1986 186.41
1987 192.1
1988 205.83
1989 217.56
1990 236.21
1991 258.26
1992 274.3
1993 287.47
1994 305.48
1995 319.17
1996 334.89
1997 349.76
1998 376.03
1999 379.09
2000 387.66
2001 403.42
2002 414.56
2003 429.13
2004 444.54
2005 456.79
2006 467.03
2007 478.87
2008 501.25
2009 515.06
2010 530.2
2011 551.55
2012 563.61
2013 570.95
2014 578.22
2015 582.31
2016 587.97
2017 599.4
2018 608.25
2019 610.57
2020 613.85
2021 629.19
2022 661.21
2023 684.97
2024-04 699.73
Today 701.07

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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