Value of 2011 South Korean Won today

₩100 in 2011

₩126.57 in 2023

The inflation rate in South Korea between 2011 and today has been 26.57%, which translates into a total increase of ₩26.57. This means that 100 won in 2011 are equivalent to 126.57 won in 2023. In other words, the purchasing power of ₩100 in 2011 equals ₩126.57 today. The average annual inflation rate between these periods has been 1.98%.

Inflation timeline in South Korea (2011 - 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 2011-2022	19.88%
Cumulative inflation 2011-today	26.57%
Avg. Annual inflation 2011-2022	1.66%
CPI 2011	94.72
CPI 2022	113.55
CPI 2023-10 (latest official data)	119.51
CPI today	119.89

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:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 2011 and 2022, use the corresponding CPI values:

Value₂₀₂₂

=Value₂₀₁₁ ×

CPI₂₀₂₂/CPI₂₀₁₁

=₩ 100 ×

113.55/94.72

≈₩119.88

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.89:

Value_today

=Value₂₀₁₁ ×

CPI_today/CPI₂₀₁₁

=₩ 100 ×

119.89/94.72

≈₩126.57

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 11 years between 2011 and 2022 and the average inflation rate was 1.6621%. Therefore, we can resolve the formula like this:

Value₂₀₂₂

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.016621)¹¹

≈₩119.88

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 2011	→	₩1.2 won in 2022
₩5 won in 2011	→	₩5.99 won in 2022
₩10 won in 2011	→	₩11.99 won in 2022
₩50 won in 2011	→	₩59.94 won in 2022
₩100 won in 2011	→	₩119.88 won in 2022
₩500 won in 2011	→	₩599.41 won in 2022
₩1,000 won in 2011	→	₩1,198.81 won in 2022
₩5,000 won in 2011	→	₩5,994.06 won in 2022
₩10,000 won in 2011	→	₩11,988.13 won in 2022
₩50,000 won in 2011	→	₩59,940.64 won in 2022
₩100,000 won in 2011	→	₩119,881.29 won in 2022
₩500,000 won in 2011	→	₩599,406.43 won in 2022
₩1,000,000 won in 2011	→	₩1,198,812.85 won in 2022

Cumulative inflation From 2011	26.57%
Avg. annual inflation From 2011	1.98%
CPI 2011	94.72
CPI today	119.89

Value of Won over time (by year)

Period	Value
2011	100
2012	102.19
2013	103.52
2014	104.84
2015	105.58
2016	106.6
2017	108.68
2018	110.28
2019	110.7
2020	111.3
2021	114.08
2022	119.88
2023-10	126.18
Today	126.57