Value of 1989 South Korean Won today

₩100 in 1989
₩302.63 in 2022

The inflation rate in South Korea between 1989 and today has been 202.63%, which translates into a total increase of ₩202.63. This means that 100 won in 1989 are equivalent to 302.63 won in 2022. In other words, the purchasing power of ₩100 in 1989 equals ₩302.63 today. The average annual inflation rate between these periods has been 3.41%.

Inflation timeline in South Korea (1989 - 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 1989-2021 189.2%
Cumulative inflation 1989-today 202.63%
Avg. Annual inflation 1989-2021 3.37%
CPI 1989 37.36
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 1989 and 2021, use the corresponding CPI values:

Value2021
=Value1989 ×
CPI2021/CPI1989
=₩ 100 ×
108.05/37.36
₩289.2

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

Valuetoday
=Value1989 ×
CPItoday/CPI1989
=₩ 100 ×
113.07/37.36
₩302.63

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 32 years between 1989 and 2021 and the average inflation rate was 3.3743%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₩100 × (1 + 0.033743)32
₩289.2

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1989 ₩2.89 won in 2021
₩5 won in 1989 ₩14.46 won in 2021
₩10 won in 1989 ₩28.92 won in 2021
₩50 won in 1989 ₩144.6 won in 2021
₩100 won in 1989 ₩289.2 won in 2021
₩500 won in 1989 ₩1,446.02 won in 2021
₩1,000 won in 1989 ₩2,892.05 won in 2021
₩5,000 won in 1989 ₩14,460.25 won in 2021
₩10,000 won in 1989 ₩28,920.5 won in 2021
₩50,000 won in 1989 ₩144,602.49 won in 2021
₩100,000 won in 1989 ₩289,204.97 won in 2021
₩500,000 won in 1989 ₩1,446,024.86 won in 2021
₩1,000,000 won in 1989 ₩2,892,049.72 won in 2021
Cumulative inflation From 1989 202.63%
Avg. annual inflation From 1989 3.41%
CPI 1989 37.36
CPI today 113.07

Value of Won over time (by year)

Period Value
1989 100
1990 108.57
1991 118.71
1992 126.08
1993 132.13
1994 140.41
1995 146.71
1996 153.93
1997 160.76
1998 172.84
1999 174.25
2000 178.18
2001 185.43
2002 190.55
2003 197.25
2004 204.33
2005 209.96
2006 214.67
2007 220.11
2008 230.4
2009 236.75
2010 243.71
2011 253.52
2012 259.06
2013 262.43
2014 265.78
2015 267.66
2016 270.26
2017 275.51
2018 279.58
2019 280.65
2020 282.16
2021 289.2
2022-04 301.48
Today 302.63

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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