Value of 1992 South Korean Won today

₩100 in 1992
₩255.27 in 2024

The inflation rate in South Korea between 1992 and today has been 155.27%, which translates into a total increase of ₩155.27. This means that 100 won in 1992 are equivalent to 255.27 won in 2024. In other words, the purchasing power of ₩100 in 1992 equals ₩255.27 today. The average annual inflation rate between these periods has been 2.97%.

Inflation timeline in South Korea (1992 - 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 1992-2023 149.71%
Cumulative inflation 1992-today 155.27%
Avg. Annual inflation 1992-2023 3%
CPI 1992 47.11
CPI 2023 117.63
CPI 2024-03 (latest official data) 120.11
CPI today 120.25

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 1992 and 2023, use the corresponding CPI values:

Value2023
=Value1992 ×
CPI2023/CPI1992
=₩ 100 ×
117.63/47.11
₩249.71

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.25:

Valuetoday
=Value1992 ×
CPItoday/CPI1992
=₩ 100 ×
120.25/47.11
₩255.27

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 31 years between 1992 and 2023 and the average inflation rate was 2.9961%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.029961)31
₩249.71

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1992 ₩2.5 won in 2023
₩5 won in 1992 ₩12.49 won in 2023
₩10 won in 1992 ₩24.97 won in 2023
₩50 won in 1992 ₩124.86 won in 2023
₩100 won in 1992 ₩249.71 won in 2023
₩500 won in 1992 ₩1,248.57 won in 2023
₩1,000 won in 1992 ₩2,497.14 won in 2023
₩5,000 won in 1992 ₩12,485.69 won in 2023
₩10,000 won in 1992 ₩24,971.37 won in 2023
₩50,000 won in 1992 ₩124,856.87 won in 2023
₩100,000 won in 1992 ₩249,713.73 won in 2023
₩500,000 won in 1992 ₩1,248,568.65 won in 2023
₩1,000,000 won in 1992 ₩2,497,137.31 won in 2023
Cumulative inflation From 1992 155.27%
Avg. annual inflation From 1992 2.97%
CPI 1992 47.11
CPI today 120.25

Value of Won over time (by year)

Period Value
1992 100
1993 104.8
1994 111.37
1995 116.36
1996 122.09
1997 127.51
1998 137.09
1999 138.2
2000 141.32
2001 147.07
2002 151.13
2003 156.45
2004 162.06
2005 166.53
2006 170.26
2007 174.58
2008 182.74
2009 187.77
2010 193.29
2011 201.07
2012 205.47
2013 208.14
2014 210.8
2015 212.29
2016 214.35
2017 218.52
2018 221.74
2019 222.59
2020 223.79
2021 229.38
2022 241.05
2023 249.71
2024-03 254.98
Today 255.27

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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