Value of 1984 South Korean Won today

₩100 in 1984

₩350.06 in 2019

The inflation rate in South Korea between 1984 and today has been 250.06%, which translates into a total increase of ₩250.06. This means that 100 won in 1984 are equivalent to 350.06 won in 2019. In other words, the purchasing power of ₩100 in 1984 equals ₩350.06 today. The average annual inflation rate has been 3.54%.

Inflation timeline in South Korea (1984-2019)

The following chart depicts the equivalence of ₩100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1984-2019) 249.97%
Total Inflation* 250.06%
Annual inflation avg. (1984-2019) 3.64%
Annual inflation avg.* 3.54%
CPI 1984 29.82
CPI 2019 104.35
CPI today* 104.38
₩1 in 1984 ₩3.5 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 35 years between 1984 and 2019 and the average inflation rate has been 3.5417%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.04)35 = ₩349.97

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 1984 was 29.82 and the CPI today is 104.38. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/29.82
= ₩349.97

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1984 ₩3.5 won today
₩5 won in 1984 ₩17.5 won today
₩10 won in 1984 ₩35.01 won today
₩50 won in 1984 ₩175.03 won today
₩100 won in 1984 ₩350.06 won today
₩500 won in 1984 ₩1,750.3 won today
₩1,000 won in 1984 ₩3,500.61 won today
₩5,000 won in 1984 ₩17,503.04 won today
₩10,000 won in 1984 ₩35,006.08 won today
₩50,000 won in 1984 ₩175,030.41 won today
₩100,000 won in 1984 ₩350,060.82 won today
₩500,000 won in 1984 ₩1,750,304.08 won today
₩1,000,000 won in 1984 ₩3,500,608.17 won today

Value of Won in time (by year)

Period Value
1984 100
1985 102.45
1986 105.53
1987 107
1988 113.48
1989 121.63
1990 127.79
1991 139.73
1992 152.65
1993 159.46
1994 168.71
1995 178.1
1996 186.57
1997 195.76
1998 208.62
1999 216.9
2000 219.84
2001 225.95
2002 233.09
2003 241.8
2004 250.06
2005 257.65
2006 264.4
2007 269.93
2008 279.66
2009 291.24
2010 299.39
2011 308.47
2012 321.3
2013 325.88
2014 329.61
2015 332.36
2016 336.12
2017 340.61
2018 345.41
2019 349.97
Today 350.06