Value of 1992 South Korean Won today

₩100 in 1992

₩256.33 in 2024

The inflation rate in South Korea between 1992 and today has been 156.33%, which translates into a total increase of ₩156.33. This means that 100 won in 1992 are equivalent to 256.33 won in 2024. In other words, the purchasing power of ₩100 in 1992 equals ₩256.33 today. The average annual inflation rate between these periods has been 2.99%.

Inflation timeline in South Korea (1992 - 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 1992-2023	149.72%
Cumulative inflation 1992-today	156.33%
Avg. Annual inflation 1992-2023	3%
CPI 1992	47.11
CPI 2023	117.64
CPI 2024-11 (latest official data)	120.6
CPI today	120.75

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 1992 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₂ ×

CPI₂₀₂₃/CPI₁₉₉₂

=₩ 100 ×

117.64/47.11

≈₩249.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 120.75:

Value_today

=Value₁₉₉₂ ×

CPI_today/CPI₁₉₉₂

=₩ 100 ×

120.75/47.11

≈₩256.33

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 31 years between 1992 and 2023 and the average inflation rate was 2.9962%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.029962)³¹

≈₩249.72

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 1992	→	₩2.5 won in 2023
₩5 won in 1992	→	₩12.49 won in 2023
₩10 won in 1992	→	₩24.97 won in 2023
₩50 won in 1992	→	₩124.86 won in 2023
₩100 won in 1992	→	₩249.72 won in 2023
₩500 won in 1992	→	₩1,248.62 won in 2023
₩1,000 won in 1992	→	₩2,497.25 won in 2023
₩5,000 won in 1992	→	₩12,486.25 won in 2023
₩10,000 won in 1992	→	₩24,972.5 won in 2023
₩50,000 won in 1992	→	₩124,862.49 won in 2023
₩100,000 won in 1992	→	₩249,724.98 won in 2023
₩500,000 won in 1992	→	₩1,248,624.91 won in 2023
₩1,000,000 won in 1992	→	₩2,497,249.82 won in 2023

Cumulative inflation From 1992	156.33%
Avg. annual inflation From 1992	2.99%
CPI 1992	47.11
CPI today	120.75

Value of Won over time (by year)

Period	Value
1992	100
1993	104.8
1994	111.37
1995	116.36
1996	122.09
1997	127.51
1998	137.09
1999	138.2
2000	141.32
2001	147.07
2002	151.13
2003	156.45
2004	162.06
2005	166.53
2006	170.26
2007	174.58
2008	182.74
2009	187.77
2010	193.29
2011	201.07
2012	205.47
2013	208.14
2014	210.8
2015	212.29
2016	214.35
2017	218.52
2018	221.74
2019	222.59
2020	223.79
2021	229.38
2022	241.05
2023	249.72
2024-11	256.01
Today	256.33