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inspector gadget
Joined: 11 Apr 2003
Location: jeollanam-do in the boonies
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 Posted: Fri Jul 28, 2006 2:20 am Post subject: Make Larger Bank Notes for F**K Sakes |
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So I am going on a two week tour of the national parks in Korea and I go to the bank today so that I don't need to find a bank every couple days.
Why the heck don't they make a 50,000 or 100,000 won bill. What a pain in the a** it is to carry around so many bills
rant over |
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ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
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| Posted: Fri Jul 28, 2006 2:36 am Post subject: Re: Make Larger Bank Notes for F**K Sakes |
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| inspector gadget wrote: |
So I am going on a two week tour of the national parks in Korea and I go to the bank today so that I don't need to find a bank every couple days.
Why the heck don't they make a 50,000 or 100,000 won bill. What a pain in the a** it is to carry around so many bills
rant over |
Get the 100,000 won cheques. I use them all the time. Problem solved. |
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Qinella
Joined: 25 Feb 2005
Location: the crib
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| Posted: Fri Jul 28, 2006 2:50 am Post subject: |
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| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
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Homer
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| Posted: Fri Jul 28, 2006 2:51 am Post subject: |
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| Quote: |
| Get the 100,000 won cheques. I use them all the time. Problem solved. |
Precisely.  |
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Tiberious aka Sparkles
Joined: 23 Jan 2003
Location: I'm one cool cat!
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| Posted: Fri Jul 28, 2006 3:46 am Post subject: |
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I thought this was going to be about the size of the new 5000-won note.
Geez, I feel as though I'm playing The Game of Life whenever I receive or use one.
_*_ |
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jinju
Joined: 22 Jan 2006
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| Posted: Fri Jul 28, 2006 5:43 am Post subject: |
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| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
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Qinella
Joined: 25 Feb 2005
Location: the crib
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| Posted: Fri Jul 28, 2006 5:44 am Post subject: |
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| jinju wrote: |
| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
Maybe you're retarded. |
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laogaiguk
Joined: 06 Dec 2005
Location: somewhere in Korea
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| Posted: Fri Jul 28, 2006 5:45 am Post subject: |
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| Qinella wrote: |
| jinju wrote: |
| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
Maybe you're retarded. |
No, mentally challenged people are nice and human. |
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jinju
Joined: 22 Jan 2006
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| Posted: Fri Jul 28, 2006 5:49 am Post subject: |
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| Qinella wrote: |
| jinju wrote: |
| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
Maybe you're retarded. |
Maybe you are mathematically challenged and lack respect for your parents when you anhilate them behind their backs on a discussion forum. |
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Tiberious aka Sparkles
Joined: 23 Jan 2003
Location: I'm one cool cat!
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| Posted: Fri Jul 28, 2006 6:10 am Post subject: |
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| Qinella wrote: |
| jinju wrote: |
| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
Maybe you're retarded. |
Maybe?
_*_ |
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Woland
Joined: 10 May 2006
Location: Seoul
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| Posted: Fri Jul 28, 2006 6:20 am Post subject: |
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| jinju wrote: |
| Qinella wrote: |
| I bet it has something to do with the way numbers are mostly calculated in terms of 10,000 in the Korean language. Like a million isn't a million, it's 100 10,000s. Totally just a guess, though. |
Simple math tells me 100 10,000s IS infact 1 million. Maybe your father tried to teach you that and you just shut him out because you thought he was boring and square. |
I don't think he was guessing about the math, just about the reason why there aren't bills larger than 10,000 won.
I also figure that you are smart enough to recognize this, Jinju. Are you so motivated by the chance to be mean-spirited in semi-public that you deliberately misread? |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Fri Jul 28, 2006 6:33 am Post subject: |
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| Tiberious aka Sparkles wrote: |
I thought this was going to be about the size of the new 5000-won note.
Geez, I feel as though I'm playing The Game of Life whenever I receive or use one.
_*_ |
I believe they're making all their notes a different size. American and Canadian money is the same size but the Euro scales up with face value. I guess it helps blind people or something.
There's been some talk about releasing higher denominations but consider:
a) most Koreans are using plastic these days (you ever see a Korean in front of you at Starbucks actually pay for an order bigger than two coffees with cash?)
b) you can get checks if you're buying a big ticket item without plastic
c) the BoK frequently cites an unintended beneficial consequence of the bill denominations not keeping up with inflation: bribes and illegal transactions (drugs, organized crime, etc) are a lot harder. You ever seen some of the cash bribes politicians are arrested for? It's like chump change. $10,000. A bribe of like 100K would require you to pack 10,000 bills into something pretty noticeable. And lets not forget you're forcing counterfeiters to crank out nothing more valuable than $10 bills. I think even the Americans have considered getting rid of anything over the $20 in an attempt to throw a spanner into the works of the drug trade.
Last edited by mindmetoo on Fri Jul 28, 2006 6:35 am; edited 1 time in total |
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laogaiguk
Joined: 06 Dec 2005
Location: somewhere in Korea
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| Posted: Fri Jul 28, 2006 6:34 am Post subject: |
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| mindmetoo wrote: |
| Tiberious aka Sparkles wrote: |
I thought this was going to be about the size of the new 5000-won note.
Geez, I feel as though I'm playing The Game of Life whenever I receive or use one.
_*_ |
I believe they're making all their notes a different size. American and Canadian money is the same size but the Euro scales up with face value. I guess it helps blind people or something.
There's been some talk about releasing higher denominations but consider:
a) most Koreans are using plastic these days (you ever see a Korean in front of you at Starbucks actually pay for an order bigger than two coffees with cash?)
b) you can get checks if you're buying a big ticket item without plastic
c) the BoK frequently cites an unintended beneficial consequences of the bill denominations not keeping up with inflation: bribes and illegal transactions (drugs, organized crime, etc) are a lot harder. You ever seem some of the cash bribes politicians are arrested for? It's like chump change. $10,000. A bribe of like 100K would require you to pack 10,000 bills into something pretty noticeable. And lets not forget you're forcing counterfeiters to crank out nothing more valuable than $10 bills. I think even the Americans have considered getting rid of anything over the $20 in an attempt to throw a spanner into the works of the drug trade. |
Those are some good points. I had never thought of them. |
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rothkowitz
Joined: 27 Apr 2006
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| Posted: Fri Jul 28, 2006 7:20 am Post subject: |
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haha!!
You should have seen the bribe money that couldn't be deposited a few years ago!
Needed a wheelbarrow for it,in fact,a room was rented to put it in.
Showing my age...when was this?2003? |
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Guri Guy
Joined: 07 Sep 2003
Location: Bamboo Island
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| Posted: Fri Jul 28, 2006 7:23 am Post subject: |
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I had heard that too that they didn't want bigger bills because of bribery concerns. Not that Korea has a problem with corruption or anything. 
It is a pain in the butt to carry around a huge wad of cash but that is mainly a foreigner problem. Koreans have adapted and use plastic for the most part as noted before. |
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