Value of 2012 South Korean Won today

₩100 in 2012

₩123.86 in 2023

The inflation rate in South Korea between 2012 and today has been 23.86%, which translates into a total increase of ₩23.86. This means that 100 won in 2012 are equivalent to 123.86 won in 2023. In other words, the purchasing power of ₩100 in 2012 equals ₩123.86 today. The average annual inflation rate between these periods has been 1.96%.

Inflation timeline in South Korea (2012 - 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 2012-2022	17.32%
Cumulative inflation 2012-today	23.86%
Avg. Annual inflation 2012-2022	1.61%
CPI 2012	96.79
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 2012 and 2022, use the corresponding CPI values:

Value₂₀₂₂

=Value₂₀₁₂ ×

CPI₂₀₂₂/CPI₂₀₁₂

=₩ 100 ×

113.55/96.79

≈₩117.32

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

Value_today

=Value₂₀₁₂ ×

CPI_today/CPI₂₀₁₂

=₩ 100 ×

119.89/96.79

≈₩123.86

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 10 years between 2012 and 2022 and the average inflation rate was 1.6098%. Therefore, we can resolve the formula like this:

Value₂₀₂₂

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.016098)¹⁰

≈₩117.32

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 2012	→	₩1.17 won in 2022
₩5 won in 2012	→	₩5.87 won in 2022
₩10 won in 2012	→	₩11.73 won in 2022
₩50 won in 2012	→	₩58.66 won in 2022
₩100 won in 2012	→	₩117.32 won in 2022
₩500 won in 2012	→	₩586.58 won in 2022
₩1,000 won in 2012	→	₩1,173.16 won in 2022
₩5,000 won in 2012	→	₩5,865.78 won in 2022
₩10,000 won in 2012	→	₩11,731.55 won in 2022
₩50,000 won in 2012	→	₩58,657.76 won in 2022
₩100,000 won in 2012	→	₩117,315.51 won in 2022
₩500,000 won in 2012	→	₩586,577.57 won in 2022
₩1,000,000 won in 2012	→	₩1,173,155.13 won in 2022

Cumulative inflation From 2012	23.86%
Avg. annual inflation From 2012	1.96%
CPI 2012	96.79
CPI today	119.89

Value of Won over time (by year)

Period	Value
2012	100
2013	101.3
2014	102.59
2015	103.32
2016	104.32
2017	106.35
2018	107.92
2019	108.33
2020	108.91
2021	111.64
2022	117.32
2023-10	123.48
Today	123.86