Value of 1988 South Korean Won today

₩100 in 1988
₩319.79 in 2022

The inflation rate in South Korea between 1988 and today has been 219.79%, which translates into a total increase of ₩219.79. This means that 100 won in 1988 are equivalent to 319.79 won in 2022. In other words, the purchasing power of ₩100 in 1988 equals ₩319.79 today. The average annual inflation rate between these periods has been 3.48%.

Inflation timeline in South Korea (1988 - 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 1988-2021 205.69%
Cumulative inflation 1988-today 219.79%
Avg. Annual inflation 1988-2021 3.44%
CPI 1988 35.35
CPI 2021 108.05
CPI 2022-04 (latest official data) 112.64
CPI today 113.04

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 1988 and 2021, use the corresponding CPI values:

Value2021
=Value1988 ×
CPI2021/CPI1988
=₩ 100 ×
108.05/35.35
₩305.69

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 113.04:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=₩ 100 ×
113.04/35.35
₩319.79

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 33 years between 1988 and 2021 and the average inflation rate was 3.444%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₩100 × (1 + 0.03444)33
₩305.69

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1988 ₩3.06 won in 2021
₩5 won in 1988 ₩15.28 won in 2021
₩10 won in 1988 ₩30.57 won in 2021
₩50 won in 1988 ₩152.85 won in 2021
₩100 won in 1988 ₩305.69 won in 2021
₩500 won in 1988 ₩1,528.45 won in 2021
₩1,000 won in 1988 ₩3,056.9 won in 2021
₩5,000 won in 1988 ₩15,284.5 won in 2021
₩10,000 won in 1988 ₩30,569.01 won in 2021
₩50,000 won in 1988 ₩152,845.04 won in 2021
₩100,000 won in 1988 ₩305,690.07 won in 2021
₩500,000 won in 1988 ₩1,528,450.36 won in 2021
₩1,000,000 won in 1988 ₩3,056,900.72 won in 2021
Cumulative inflation From 1988 219.79%
Avg. annual inflation From 1988 3.48%
CPI 1988 35.35
CPI today 113.04

Value of Won over time (by year)

Period Value
1988 100
1989 105.7
1990 114.76
1991 125.47
1992 133.27
1993 139.67
1994 148.42
1995 155.07
1996 162.7
1997 169.93
1998 182.69
1999 184.18
2000 188.34
2001 196
2002 201.41
2003 208.49
2004 215.98
2005 221.93
2006 226.9
2007 232.65
2008 243.53
2009 250.24
2010 257.6
2011 267.97
2012 273.83
2013 277.39
2014 280.93
2015 282.91
2016 285.66
2017 291.22
2018 295.51
2019 296.65
2020 298.24
2021 305.69
2022-04 318.67
Today 319.79

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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