50,000 Won Bills Set New Exchange Record Before Lunar New Year
Increased Demand for 50,000 Won Bills Ahead of Lunar New Year As the holiday season approaches, there has been a noticeable shift in how people are withdrawing cash from banks. More individuals are opting for 50,000 won bills over 10,000 won bills, reflecting a growing preference for higher denominations. This trend has been consistent over the years, and this year, it reached an all-time high. According to data provided by the Bank of Korea to Rebuilding Korea Party lawmaker Cha Gyu-geun, the total amount of currency exchanged by the central bank between January 13–14 of this year, just before the Lunar New Year, was 34.34 billion Korean won. Out of this, 50,000 won bills made up the largest portion, totaling 15.86 billion won. This represents an increase of about 1 billion won compared to the previous year’s Lunar New Year, marking a new record. In contrast, the exchange volume for 10,000 won bills saw a decline of nearly 1 billion won, dropping from 14.93 billion won last year t...