Value of 2002 South Korean Won today

₩100 in 2002
₩169.11 in 2024

The inflation rate in South Korea between 2002 and today has been 69.11%, which translates into a total increase of ₩69.11. This means that 100 won in 2002 are equivalent to 169.11 won in 2024. In other words, the purchasing power of ₩100 in 2002 equals ₩169.11 today. The average annual inflation rate between these periods has been 2.42%.

Inflation timeline in South Korea (2002 - 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 2002-2023 65.23%
Cumulative inflation 2002-today 69.11%
Avg. Annual inflation 2002-2023 2.42%
CPI 2002 71.19
CPI 2023 117.63
CPI 2024-04 (latest official data) 120.17
CPI today 120.4

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 2002 and 2023, use the corresponding CPI values:

Value2023
=Value2002 ×
CPI2023/CPI2002
=₩ 100 ×
117.63/71.19
₩165.23

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.4:

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=₩ 100 ×
120.4/71.19
₩169.11

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 21 years between 2002 and 2023 and the average inflation rate was 2.42%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.0242)21
₩165.23

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 2002 ₩1.65 won in 2023
₩5 won in 2002 ₩8.26 won in 2023
₩10 won in 2002 ₩16.52 won in 2023
₩50 won in 2002 ₩82.61 won in 2023
₩100 won in 2002 ₩165.23 won in 2023
₩500 won in 2002 ₩826.13 won in 2023
₩1,000 won in 2002 ₩1,652.27 won in 2023
₩5,000 won in 2002 ₩8,261.34 won in 2023
₩10,000 won in 2002 ₩16,522.68 won in 2023
₩50,000 won in 2002 ₩82,613.42 won in 2023
₩100,000 won in 2002 ₩165,226.85 won in 2023
₩500,000 won in 2002 ₩826,134.25 won in 2023
₩1,000,000 won in 2002 ₩1,652,268.5 won in 2023
Cumulative inflation From 2002 69.11%
Avg. annual inflation From 2002 2.42%
CPI 2002 71.19
CPI today 120.4

Value of Won over time (by year)

Period Value
2002 100
2003 103.51
2004 107.23
2005 110.18
2006 112.66
2007 115.51
2008 120.91
2009 124.24
2010 127.89
2011 133.04
2012 135.95
2013 137.72
2014 139.48
2015 140.46
2016 141.83
2017 144.59
2018 146.72
2019 147.28
2020 148.07
2021 151.77
2022 159.5
2023 165.23
2024-04 168.79
Today 169.11

All available years

Today's value of south korean won by year:

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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