Value of 1997 South Korean Won today

₩100 in 1997
₩188.24 in 2022

The inflation rate in South Korea between 1997 and today has been 88.24%, which translates into a total increase of ₩88.24. This means that 100 won in 1997 are equivalent to 188.24 won in 2022. In other words, the purchasing power of ₩100 in 1997 equals ₩188.24 today. The average annual inflation rate between these periods has been 2.56%.

Inflation timeline in South Korea (1997 - 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 1997-2021 79.89%
Cumulative inflation 1997-today 88.24%
Avg. Annual inflation 1997-2021 2.48%
CPI 1997 60.06
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 1997 and 2021, use the corresponding CPI values:

Value2021
=Value1997 ×
CPI2021/CPI1997
=₩ 100 ×
108.05/60.06
₩179.89

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

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=₩ 100 ×
113.07/60.06
₩188.24

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 24 years between 1997 and 2021 and the average inflation rate was 2.4769%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₩100 × (1 + 0.024769)24
₩179.89

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1997 ₩1.8 won in 2021
₩5 won in 1997 ₩8.99 won in 2021
₩10 won in 1997 ₩17.99 won in 2021
₩50 won in 1997 ₩89.95 won in 2021
₩100 won in 1997 ₩179.89 won in 2021
₩500 won in 1997 ₩899.47 won in 2021
₩1,000 won in 1997 ₩1,798.95 won in 2021
₩5,000 won in 1997 ₩8,994.74 won in 2021
₩10,000 won in 1997 ₩17,989.48 won in 2021
₩50,000 won in 1997 ₩89,947.4 won in 2021
₩100,000 won in 1997 ₩179,894.79 won in 2021
₩500,000 won in 1997 ₩899,473.97 won in 2021
₩1,000,000 won in 1997 ₩1,798,947.95 won in 2021
Cumulative inflation From 1997 88.24%
Avg. annual inflation From 1997 2.56%
CPI 1997 60.06
CPI today 113.07

Value of Won over time (by year)

Period Value
1997 100
1998 107.51
1999 108.39
2000 110.84
2001 115.34
2002 118.53
2003 122.7
2004 127.1
2005 130.6
2006 133.53
2007 136.91
2008 143.31
2009 147.26
2010 151.59
2011 157.7
2012 161.14
2013 163.24
2014 165.32
2015 166.49
2016 168.11
2017 171.38
2018 173.91
2019 174.57
2020 175.51
2021 179.89
2022-04 187.53
Today 188.24

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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