Value of 1990 South Korean Won today

₩100 in 1990

₩298.34 in 2024

The inflation rate in South Korea between 1990 and today has been 198.34%, which translates into a total increase of ₩198.34. This means that 100 won in 1990 are equivalent to 298.34 won in 2024. In other words, the purchasing power of ₩100 in 1990 equals ₩298.34 today. The average annual inflation rate between these periods has been 3.27%.

Inflation timeline in South Korea (1990 - 2024)

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 1990-2023	190%
Cumulative inflation 1990-today	198.34%
Avg. Annual inflation 1990-2023	3.28%
CPI 1990	40.56
CPI 2023	117.64
CPI 2024-09 (latest official data)	120.86
CPI today	121.02

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 1990 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₀ ×

CPI₂₀₂₃/CPI₁₉₉₀

=₩ 100 ×

117.64/40.56

≈₩290

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.02:

Value_today

=Value₁₉₉₀ ×

CPI_today/CPI₁₉₉₀

=₩ 100 ×

121.02/40.56

≈₩298.34

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 33 years between 1990 and 2023 and the average inflation rate was 3.279%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.03279)³³

≈₩290

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 1990	→	₩2.9 won in 2023
₩5 won in 1990	→	₩14.5 won in 2023
₩10 won in 1990	→	₩29 won in 2023
₩50 won in 1990	→	₩145 won in 2023
₩100 won in 1990	→	₩290 won in 2023
₩500 won in 1990	→	₩1,449.98 won in 2023
₩1,000 won in 1990	→	₩2,899.96 won in 2023
₩5,000 won in 1990	→	₩14,499.78 won in 2023
₩10,000 won in 1990	→	₩28,999.55 won in 2023
₩50,000 won in 1990	→	₩144,997.75 won in 2023
₩100,000 won in 1990	→	₩289,995.5 won in 2023
₩500,000 won in 1990	→	₩1,449,977.52 won in 2023
₩1,000,000 won in 1990	→	₩2,899,955.03 won in 2023

Cumulative inflation From 1990	198.34%
Avg. annual inflation From 1990	3.27%
CPI 1990	40.56
CPI today	121.02

Value of Won over time (by year)

Period	Value
1990	100
1991	109.33
1992	116.13
1993	121.7
1994	129.33
1995	135.12
1996	141.78
1997	148.07
1998	159.19
1999	160.49
2000	164.11
2001	170.79
2002	175.51
2003	181.67
2004	188.2
2005	193.38
2006	197.72
2007	202.73
2008	212.2
2009	218.05
2010	224.46
2011	233.5
2012	238.61
2013	241.71
2014	244.79
2015	246.52
2016	248.92
2017	253.76
2018	257.5
2019	258.49
2020	259.88
2021	266.37
2022	279.93
2023	290
2024-09	297.95
Today	298.34