Value of 1983 South Korean Won today

₩100 in 1983

₩357.17 in 2019

The inflation rate in South Korea between 1983 and today has been 257.17%, which translates into a total increase of ₩257.17. This means that 100 won in 1983 are equivalent to 357.17 won in 2019. In other words, the purchasing power of ₩100 in 1983 equals ₩357.17 today. The average annual inflation rate has been 3.5%.

Inflation timeline in South Korea (1983-2019)

The following chart ilustrates the equivalence of ₩100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1983-2019) 256.85%
Total Inflation* 257.17%
Annual inflation avg. (1983-2019) 3.6%
Annual inflation avg.* 3.5%
CPI 1983 29.24
CPI 2019 104.35
CPI today* 104.45
₩1 in 1983 ₩3.57 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 36 years between 1983 and 2019 and the average inflation rate has been 3.5006%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.04)36 = ₩356.85

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 1983 was 29.24 and the CPI today is 104.45. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/29.24
= ₩356.85

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1983 ₩3.57 won today
₩5 won in 1983 ₩17.86 won today
₩10 won in 1983 ₩35.72 won today
₩50 won in 1983 ₩178.59 won today
₩100 won in 1983 ₩357.17 won today
₩500 won in 1983 ₩1,785.87 won today
₩1,000 won in 1983 ₩3,571.74 won today
₩5,000 won in 1983 ₩17,858.7 won today
₩10,000 won in 1983 ₩35,717.4 won today
₩50,000 won in 1983 ₩178,587.02 won today
₩100,000 won in 1983 ₩357,174.05 won today
₩500,000 won in 1983 ₩1,785,870.23 won today
₩1,000,000 won in 1983 ₩3,571,740.45 won today

Value of Won in time (by year)

Period Value
1983 100
1984 101.96
1985 104.46
1986 107.61
1987 109.1
1988 115.71
1989 124.02
1990 130.3
1991 142.47
1992 155.65
1993 162.59
1994 172.02
1995 181.6
1996 190.23
1997 199.6
1998 212.72
1999 221.16
2000 224.16
2001 230.39
2002 237.67
2003 246.55
2004 254.98
2005 262.72
2006 269.6
2007 275.23
2008 285.16
2009 296.96
2010 305.27
2011 314.53
2012 327.62
2013 332.29
2014 336.09
2015 338.89
2016 342.72
2017 347.31
2018 352.2
2019 356.85
Today 357.17