Korean Job Discussion Forums

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Not Time for Currency Reform
But Issuance of Higher Dominated Notes Necessary
The top banker and the central bank should be concentrating on stabilizing the economy at this crucial time. His most pressing task is to ensure a stable financial environment in which the national economy can create jobs through invigorated investment.

Now is not the proper time to make drag the country into a consuming debate on currency reform.

That said, Park�s other proposal for the introduction of higher dominated notes, such as a 50,000 and 100,000-won bill, deserves positive consideration. For the past 30 years, the highest denomination has been the 10,000 won note (currently valued at only $8.40). http://times.hankooki.com/lpage/opinion/200401/kt2004011417094911300.htm

HardyandTiny · Joined: 03 Jun 2003

I read that article last week and came out thinking that there were two separate ideas.
first it said they would make a 100,000W note and then it said the notes would be reduced by tens.
made no sense actually.
are those seperate ideas?

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Civic groups are against the issuance of large-denomination bills.
"Issuing the 100,000-won bill will make the problem of illegal political funds worse," said Wi Pyeong-ryang, a director of the Citizens Coalition for Economic Justice. "Larger bills can be easily used in slush funds and illegal deals, and it will be harder to investigate bribery cases through follow-up checks."
http://english.donga.com/srv/service.php3?biid=2004011501008

mithridates · Posted: Thu Jan 15, 2004 5:28 am Post subject:

Go here to vote for the face you want to see on the new bill!

http://vote.chosun.com/vote/files/P20040115_2/userVoteInput.html

Holyjoe · Joined: 03 Mar 2003 Location: Away for a cuppa

Where's the option for Cha Beum-Kun, Korea's greatest ever football player? Wink

Tiger Beer · Joined: 07 Feb 2003

mithridates · Posted: Fri Jan 16, 2004 2:30 am Post subject:

Ah, you voted for the painter. I'd never heard of him, or the lady below (first female judge in Korea). Anybody else vote? It's funny that they included Dokdo in the mix.

Hmm...first female judge? Ancient king? Amazing painter? No, 150m of rocks sounds much better...

seoulmon · Joined: 13 Nov 2003 Location: Seoul

I voted for him...

I'm not if he will win though..I think I'm the only person who voted for him.

(plus, he's spuer evil)

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Korean Banknotes to Get All-New Look
Korea's banknotes will get a radical overhaul to curb rising forgery. The central bank plans to incorporate high-tech anti-forgery features including holograms, Bank of Korea officials announced Monday

Bills are expected to shrink to the size of U.S. dollar notes. The current W10,000 note is 161 mm x 76 mm, compared to notes of a roughly similar value like the 10 Euro note, which measures only 127mm x 67mm, and the 1,000 Yen note with 150mm x 76mm. Pending approval, the central bank also intends to issue higher denomination notes of W100,000.
by Lee Ji-hoon, Chosun Ilbo (February 14, 2005)
http://english.chosun.com/w21data/html/news/200502/200502140029.html

Korean Currency in Use
http://www.bok.or.kr/template/eng/html/index.jsp?tbl=tbl_FM0000000066_CA0000001017

World Currency Gallery
http://www.banknotes.com/images.htm

Cthulhu · Joined: 02 Feb 2003

Cool.

tzechuk · Joined: 20 Dec 2004

Woohoo, about time!