Value of 1989 South Korean Won today

₩100 in 1989

₩288 in 2019

The inflation rate in South Korea between 1989 and today has been 188%, which translates into a total increase of ₩188. This means that 100 won in 1989 are equivalent to 288 won in 2019. In other words, the purchasing power of ₩100 in 1989 equals ₩288 today. The average annual inflation rate has been 3.47%.

Inflation timeline in South Korea (1989-2019)

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 (1989-2019) 187.74%
Total Inflation* 188%
Annual inflation avg. (1989-2019) 3.59%
Annual inflation avg.* 3.47%
CPI 1989 36.27
CPI 2019 104.35
CPI today* 104.45
₩1 in 1989 ₩2.88 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 30 years between 1989 and 2019 and the average inflation rate has been 3.4711%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.03)30 = ₩287.74

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 1989 was 36.27 and the CPI today is 104.45. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/36.27
= ₩287.74

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1989 ₩2.88 won today
₩5 won in 1989 ₩14.4 won today
₩10 won in 1989 ₩28.8 won today
₩50 won in 1989 ₩144 won today
₩100 won in 1989 ₩288 won today
₩500 won in 1989 ₩1,440.01 won today
₩1,000 won in 1989 ₩2,880.03 won today
₩5,000 won in 1989 ₩14,400.13 won today
₩10,000 won in 1989 ₩28,800.25 won today
₩50,000 won in 1989 ₩144,001.25 won today
₩100,000 won in 1989 ₩288,002.5 won today
₩500,000 won in 1989 ₩1,440,012.51 won today
₩1,000,000 won in 1989 ₩2,880,025.03 won today

Value of Won in time (by year)

Period Value
1989 100
1990 105.07
1991 114.88
1992 125.51
1993 131.1
1994 138.71
1995 146.43
1996 153.39
1997 160.95
1998 171.53
1999 178.33
2000 180.74
2001 185.77
2002 191.64
2003 198.8
2004 205.6
2005 211.84
2006 217.39
2007 221.93
2008 229.93
2009 239.45
2010 246.15
2011 253.62
2012 264.17
2013 267.93
2014 271
2015 273.26
2016 276.35
2017 280.05
2018 283.99
2019 287.74
Today 288