Value of 1993 South Korean Won today

₩100 in 1993

₩219.68 in 2019

The inflation rate in South Korea between 1993 and today has been 119.68%, which translates into a total increase of ₩119.68. This means that 100 won in 1993 are equivalent to 219.68 won in 2019. In other words, the purchasing power of ₩100 in 1993 equals ₩219.68 today. The average annual inflation rate has been 2.96%.

Inflation timeline in South Korea (1993-2019)

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 (1993-2019) 119.48%
Total Inflation* 119.68%
Annual inflation avg. (1993-2019) 3.07%
Annual inflation avg.* 2.96%
CPI 1993 47.55
CPI 2019 104.35
CPI today* 104.45
₩1 in 1993 ₩2.19 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 26 years between 1993 and 2019 and the average inflation rate has been 2.9577%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.03)26 = ₩219.48

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 1993 was 47.55 and the CPI today is 104.45. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/47.55
= ₩219.48

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1993 ₩2.2 won today
₩5 won in 1993 ₩10.98 won today
₩10 won in 1993 ₩21.97 won today
₩50 won in 1993 ₩109.84 won today
₩100 won in 1993 ₩219.68 won today
₩500 won in 1993 ₩1,098.39 won today
₩1,000 won in 1993 ₩2,196.78 won today
₩5,000 won in 1993 ₩10,983.88 won today
₩10,000 won in 1993 ₩21,967.76 won today
₩50,000 won in 1993 ₩109,838.78 won today
₩100,000 won in 1993 ₩219,677.55 won today
₩500,000 won in 1993 ₩1,098,387.75 won today
₩1,000,000 won in 1993 ₩2,196,775.51 won today

Value of Won in time (by year)

Period Value
1993 100
1994 105.8
1995 111.69
1996 117
1997 122.76
1998 130.83
1999 136.02
2000 137.87
2001 141.7
2002 146.18
2003 151.64
2004 156.82
2005 161.58
2006 165.81
2007 169.28
2008 175.38
2009 182.64
2010 187.76
2011 193.45
2012 201.5
2013 204.37
2014 206.71
2015 208.43
2016 210.79
2017 213.61
2018 216.62
2019 219.48
Today 219.68