Value of 1983 South Korean Won today

₩100 in 1983
₩380.28 in 2022

The inflation rate in South Korea between 1983 and today has been 280.28%, which translates into a total increase of ₩280.28. This means that 100 won in 1983 are equivalent to 380.28 won in 2022. In other words, the purchasing power of ₩100 in 1983 equals ₩380.28 today. The average annual inflation rate between these periods has been 3.48%.

Inflation timeline in South Korea (1983 - 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 1983-2021 263.41%
Cumulative inflation 1983-today 280.28%
Avg. Annual inflation 1983-2021 3.45%
CPI 1983 29.73
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 1983 and 2021, use the corresponding CPI values:

Value2021
=Value1983 ×
CPI2021/CPI1983
=₩ 100 ×
108.05/29.73
₩363.41

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

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=₩ 100 ×
113.07/29.73
₩380.28

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 38 years between 1983 and 2021 and the average inflation rate was 3.454%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₩100 × (1 + 0.03454)38
₩363.41

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1983 ₩3.63 won in 2021
₩5 won in 1983 ₩18.17 won in 2021
₩10 won in 1983 ₩36.34 won in 2021
₩50 won in 1983 ₩181.71 won in 2021
₩100 won in 1983 ₩363.41 won in 2021
₩500 won in 1983 ₩1,817.07 won in 2021
₩1,000 won in 1983 ₩3,634.14 won in 2021
₩5,000 won in 1983 ₩18,170.7 won in 2021
₩10,000 won in 1983 ₩36,341.4 won in 2021
₩50,000 won in 1983 ₩181,707.01 won in 2021
₩100,000 won in 1983 ₩363,414.02 won in 2021
₩500,000 won in 1983 ₩1,817,070.08 won in 2021
₩1,000,000 won in 1983 ₩3,634,140.16 won in 2021
Cumulative inflation From 1983 280.28%
Avg. annual inflation From 1983 3.48%
CPI 1983 29.73
CPI today 113.07

Value of Won over time (by year)

Period Value
1983 100
1984 102.27
1985 104.79
1986 107.67
1987 110.95
1988 118.88
1989 125.66
1990 136.43
1991 149.17
1992 158.43
1993 166.04
1994 176.44
1995 184.35
1996 193.43
1997 202.01
1998 217.19
1999 218.96
2000 223.91
2001 233.01
2002 239.45
2003 247.86
2004 256.76
2005 263.83
2006 269.75
2007 276.59
2008 289.51
2009 297.5
2010 306.24
2011 318.57
2012 325.54
2013 329.77
2014 333.98
2015 336.34
2016 339.6
2017 346.21
2018 351.32
2019 352.66
2020 354.56
2021 363.41
2022-04 378.84
Today 380.28

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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