Value of 1984 South Korean Won today

₩100 in 1984
₩395.64 in 2024

The inflation rate in South Korea between 1984 and today has been 295.64%, which translates into a total increase of ₩295.64. This means that 100 won in 1984 are equivalent to 395.64 won in 2024. In other words, the purchasing power of ₩100 in 1984 equals ₩395.64 today. The average annual inflation rate between these periods has been 3.5%.

Inflation timeline in South Korea (1984 - 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 1984-2023 286.83%
Cumulative inflation 1984-today 295.64%
Avg. Annual inflation 1984-2023 3.53%
CPI 1984 30.41
CPI 2023 117.63
CPI 2024-03 (latest official data) 120.11
CPI today 120.31

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 1984 and 2023, use the corresponding CPI values:

Value2023
=Value1984 ×
CPI2023/CPI1984
=₩ 100 ×
117.63/30.41
₩386.83

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.31:

Valuetoday
=Value1984 ×
CPItoday/CPI1984
=₩ 100 ×
120.31/30.41
₩395.64

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 39 years between 1984 and 2023 and the average inflation rate was 3.5297%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.035297)39
₩386.83

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1984 ₩3.87 won in 2023
₩5 won in 1984 ₩19.34 won in 2023
₩10 won in 1984 ₩38.68 won in 2023
₩50 won in 1984 ₩193.42 won in 2023
₩100 won in 1984 ₩386.83 won in 2023
₩500 won in 1984 ₩1,934.17 won in 2023
₩1,000 won in 1984 ₩3,868.35 won in 2023
₩5,000 won in 1984 ₩19,341.74 won in 2023
₩10,000 won in 1984 ₩38,683.47 won in 2023
₩50,000 won in 1984 ₩193,417.37 won in 2023
₩100,000 won in 1984 ₩386,834.74 won in 2023
₩500,000 won in 1984 ₩1,934,173.69 won in 2023
₩1,000,000 won in 1984 ₩3,868,347.39 won in 2023
Cumulative inflation From 1984 295.64%
Avg. annual inflation From 1984 3.5%
CPI 1984 30.41
CPI today 120.31

Value of Won over time (by year)

Period Value
1984 100
1985 102.46
1986 105.28
1987 108.49
1988 116.24
1989 122.87
1990 133.4
1991 145.85
1992 154.91
1993 162.35
1994 172.52
1995 180.25
1996 189.13
1997 197.52
1998 212.36
1999 214.09
2000 218.93
2001 227.83
2002 234.12
2003 242.35
2004 251.05
2005 257.97
2006 263.75
2007 270.44
2008 283.08
2009 290.88
2010 299.43
2011 311.49
2012 318.3
2013 322.44
2014 326.55
2015 328.86
2016 332.05
2017 338.51
2018 343.5
2019 344.82
2020 346.67
2021 355.33
2022 373.42
2023 386.83
2024-03 395
Today 395.64

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 | 2022 | 2023 |

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