Value of 2003 South Korean Won today

₩100 in 2003
₩158.37 in 2023

The inflation rate in South Korea between 2003 and today has been 58.37%, which translates into a total increase of ₩58.37. This means that 100 won in 2003 are equivalent to 158.37 won in 2023. In other words, the purchasing power of ₩100 in 2003 equals ₩158.37 today. The average annual inflation rate between these periods has been 2.33%.

Inflation timeline in South Korea (2003 - 2023)

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 2003-2022 54.08%
Cumulative inflation 2003-today 58.37%
Avg. Annual inflation 2003-2022 2.3%
CPI 2003 73.7
CPI 2022 113.55
CPI 2023-02 (latest official data) 116.36
CPI today 116.71

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 2003 and 2022, use the corresponding CPI values:

Value2022
=Value2003 ×
CPI2022/CPI2003
=₩ 100 ×
113.55/73.7
₩154.08

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.71:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=₩ 100 ×
116.71/73.7
₩158.37

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 19 years between 2003 and 2022 and the average inflation rate was 2.3013%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=₩100 × (1 + 0.023013)19
₩154.08

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 2003 ₩1.54 won in 2022
₩5 won in 2003 ₩7.7 won in 2022
₩10 won in 2003 ₩15.41 won in 2022
₩50 won in 2003 ₩77.04 won in 2022
₩100 won in 2003 ₩154.08 won in 2022
₩500 won in 2003 ₩770.39 won in 2022
₩1,000 won in 2003 ₩1,540.78 won in 2022
₩5,000 won in 2003 ₩7,703.92 won in 2022
₩10,000 won in 2003 ₩15,407.83 won in 2022
₩50,000 won in 2003 ₩77,039.17 won in 2022
₩100,000 won in 2003 ₩154,078.35 won in 2022
₩500,000 won in 2003 ₩770,391.73 won in 2022
₩1,000,000 won in 2003 ₩1,540,783.47 won in 2022
Cumulative inflation From 2003 58.37%
Avg. annual inflation From 2003 2.33%
CPI 2003 73.7
CPI today 116.71

Value of Won over time (by year)

Period Value
2003 100
2004 103.59
2005 106.44
2006 108.83
2007 111.59
2008 116.8
2009 120.02
2010 123.55
2011 128.53
2012 131.34
2013 133.05
2014 134.74
2015 135.69
2016 137.01
2017 139.68
2018 141.74
2019 142.28
2020 143.04
2021 146.62
2022 154.08
2023-02 157.89
Today 158.37

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 |

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