Value of 2007 South Korean Won today

₩100 in 2007
₩146.31 in 2024

The inflation rate in South Korea between 2007 and today has been 46.31%, which translates into a total increase of ₩46.31. This means that 100 won in 2007 are equivalent to 146.31 won in 2024. In other words, the purchasing power of ₩100 in 2007 equals ₩146.31 today. The average annual inflation rate between these periods has been 2.26%.

Inflation timeline in South Korea (2007 - 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 2007-2023 43.04%
Cumulative inflation 2007-today 46.31%
Avg. Annual inflation 2007-2023 2.26%
CPI 2007 82.24
CPI 2023 117.63
CPI 2024-03 (latest official data) 120.11
CPI today 120.32

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 2007 and 2023, use the corresponding CPI values:

Value2023
=Value2007 ×
CPI2023/CPI2007
=₩ 100 ×
117.63/82.24
₩143.04

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.32:

Valuetoday
=Value2007 ×
CPItoday/CPI2007
=₩ 100 ×
120.32/82.24
₩146.31

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 16 years between 2007 and 2023 and the average inflation rate was 2.2624%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.022624)16
₩143.04

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 2007 ₩1.43 won in 2023
₩5 won in 2007 ₩7.15 won in 2023
₩10 won in 2007 ₩14.3 won in 2023
₩50 won in 2007 ₩71.52 won in 2023
₩100 won in 2007 ₩143.04 won in 2023
₩500 won in 2007 ₩715.2 won in 2023
₩1,000 won in 2007 ₩1,430.4 won in 2023
₩5,000 won in 2007 ₩7,152.01 won in 2023
₩10,000 won in 2007 ₩14,304.03 won in 2023
₩50,000 won in 2007 ₩71,520.13 won in 2023
₩100,000 won in 2007 ₩143,040.26 won in 2023
₩500,000 won in 2007 ₩715,201.29 won in 2023
₩1,000,000 won in 2007 ₩1,430,402.58 won in 2023
Cumulative inflation From 2007 46.31%
Avg. annual inflation From 2007 2.26%
CPI 2007 82.24
CPI today 120.32

Value of Won over time (by year)

Period Value
2007 100
2008 104.67
2009 107.56
2010 110.72
2011 115.18
2012 117.7
2013 119.23
2014 120.75
2015 121.6
2016 122.78
2017 125.17
2018 127.02
2019 127.5
2020 128.19
2021 131.39
2022 138.08
2023 143.04
2024-03 146.06
Today 146.31

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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