Value of 1991 South Korean Won today

₩100 in 1991
₩272.17 in 2024

The inflation rate in South Korea between 1991 and today has been 172.17%, which translates into a total increase of ₩172.17. This means that 100 won in 1991 are equivalent to 272.17 won in 2024. In other words, the purchasing power of ₩100 in 1991 equals ₩272.17 today. The average annual inflation rate between these periods has been 3.08%.

Inflation timeline in South Korea (1991 - 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 1991-2023 165.24%
Cumulative inflation 1991-today 172.17%
Avg. Annual inflation 1991-2023 3.1%
CPI 1991 44.35
CPI 2023 117.64
CPI 2024-11 (latest official data) 120.6
CPI today 120.71

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:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1991 and 2023, use the corresponding CPI values:

Value2023
=Value1991 ×
CPI2023/CPI1991
=₩ 100 ×
117.64/44.35
₩265.24

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.71:

Valuetoday
=Value1991 ×
CPItoday/CPI1991
=₩ 100 ×
120.71/44.35
₩272.17

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 32 years between 1991 and 2023 and the average inflation rate was 3.0953%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₩100 × (1 + 0.030953)32
₩265.24

South Korea inflation - Conversion table

Initial Value Equivalent value
₩1 won in 1991 ₩2.65 won in 2023
₩5 won in 1991 ₩13.26 won in 2023
₩10 won in 1991 ₩26.52 won in 2023
₩50 won in 1991 ₩132.62 won in 2023
₩100 won in 1991 ₩265.24 won in 2023
₩500 won in 1991 ₩1,326.21 won in 2023
₩1,000 won in 1991 ₩2,652.41 won in 2023
₩5,000 won in 1991 ₩13,262.05 won in 2023
₩10,000 won in 1991 ₩26,524.11 won in 2023
₩50,000 won in 1991 ₩132,620.54 won in 2023
₩100,000 won in 1991 ₩265,241.08 won in 2023
₩500,000 won in 1991 ₩1,326,205.4 won in 2023
₩1,000,000 won in 1991 ₩2,652,410.79 won in 2023
Cumulative inflation From 1991 172.17%
Avg. annual inflation From 1991 3.08%
CPI 1991 44.35
CPI today 120.71

Value of Won over time (by year)

Period Value
1991 100
1992 106.21
1993 111.31
1994 118.29
1995 123.59
1996 129.67
1997 135.43
1998 145.61
1999 146.79
2000 150.11
2001 156.21
2002 160.52
2003 166.17
2004 172.13
2005 176.87
2006 180.84
2007 185.42
2008 194.09
2009 199.44
2010 205.3
2011 213.57
2012 218.24
2013 221.08
2014 223.9
2015 225.48
2016 227.67
2017 232.09
2018 235.52
2019 236.42
2020 237.69
2021 243.63
2022 256.03
2023 265.24
2024-11 271.92
Today 272.17

All available years

Today's value of south korean won by year:

1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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