Value of 1997 South Korean Won today

₩100 in 1997
₩200.2 in 2024

The inflation rate in South Korea between 1997 and today has been 100.2%, which translates into a total increase of ₩100.2. This means that 100 won in 1997 are equivalent to 200.2 won in 2024. In other words, the purchasing power of ₩100 in 1997 equals ₩200.2 today. The average annual inflation rate between these periods has been 2.6%.

Inflation timeline in South Korea (1997 - 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 1997-2023 95.84%
Cumulative inflation 1997-today 100.2%
Avg. Annual inflation 1997-2023 2.62%
CPI 1997 60.06
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 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=₩ 100 ×
117.63/60.06
₩195.84

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

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=₩ 100 ×
120.25/60.06
₩200.2

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 26 years between 1997 and 2023 and the average inflation rate was 2.6189%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.026189)26
₩195.84

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1997 ₩1.96 won in 2023
₩5 won in 1997 ₩9.79 won in 2023
₩10 won in 1997 ₩19.58 won in 2023
₩50 won in 1997 ₩97.92 won in 2023
₩100 won in 1997 ₩195.84 won in 2023
₩500 won in 1997 ₩979.21 won in 2023
₩1,000 won in 1997 ₩1,958.43 won in 2023
₩5,000 won in 1997 ₩9,792.14 won in 2023
₩10,000 won in 1997 ₩19,584.27 won in 2023
₩50,000 won in 1997 ₩97,921.37 won in 2023
₩100,000 won in 1997 ₩195,842.74 won in 2023
₩500,000 won in 1997 ₩979,213.68 won in 2023
₩1,000,000 won in 1997 ₩1,958,427.37 won in 2023
Cumulative inflation From 1997 100.2%
Avg. annual inflation From 1997 2.6%
CPI 1997 60.06
CPI today 120.25

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 189.05
2023 195.84
2024-03 199.98
Today 200.2

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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