Value of 1997 South Korean Won today

₩100 in 1997

₩178.93 in 2019

The inflation rate in South Korea between 1997 and today has been 78.93%, which translates into a total increase of ₩78.93. This means that 100 won in 1997 are equivalent to 178.93 won in 2019. In other words, the purchasing power of ₩100 in 1997 equals ₩178.93 today. The average annual inflation rate has been 2.56%.

Inflation timeline in South Korea (1997-2019)

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 (1997-2019) 78.78%
Total Inflation* 78.93%
Annual inflation avg. (1997-2019) 2.68%
Annual inflation avg.* 2.56%
CPI 1997 58.37
CPI 2019 104.35
CPI today* 104.44
₩1 in 1997 ₩1.79 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 22 years between 1997 and 2019 and the average inflation rate has been 2.5619%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₩100 * (1 + 0.03)22 = ₩178.78

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 1997 was 58.37 and the CPI today is 104.44. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₩100 *
104.35/58.37
= ₩178.78

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1997 ₩1.79 won today
₩5 won in 1997 ₩8.95 won today
₩10 won in 1997 ₩17.89 won today
₩50 won in 1997 ₩89.47 won today
₩100 won in 1997 ₩178.93 won today
₩500 won in 1997 ₩894.65 won today
₩1,000 won in 1997 ₩1,789.3 won today
₩5,000 won in 1997 ₩8,946.51 won today
₩10,000 won in 1997 ₩17,893.03 won today
₩50,000 won in 1997 ₩89,465.15 won today
₩100,000 won in 1997 ₩178,930.3 won today
₩500,000 won in 1997 ₩894,651.49 won today
₩1,000,000 won in 1997 ₩1,789,302.98 won today

Value of Won in time (by year)

Period Value
1997 100
1998 106.57
1999 110.8
2000 112.3
2001 115.42
2002 119.07
2003 123.52
2004 127.74
2005 131.62
2006 135.07
2007 137.89
2008 142.86
2009 148.78
2010 152.94
2011 157.58
2012 164.13
2013 166.47
2014 168.38
2015 169.78
2016 171.7
2017 174
2018 176.45
2019 178.78
Today 178.93