Value of 1993 South Korean Won today

₩100 in 1993

₩244.51 in 2024

The inflation rate in South Korea between 1993 and today has been 144.51%, which translates into a total increase of ₩144.51. This means that 100 won in 1993 are equivalent to 244.51 won in 2024. In other words, the purchasing power of ₩100 in 1993 equals ₩244.51 today. The average annual inflation rate between these periods has been 2.93%.

Inflation timeline in South Korea (1993 - 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 1993-2023	138.28%
Cumulative inflation 1993-today	144.51%
Avg. Annual inflation 1993-2023	2.94%
CPI 1993	49.37
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:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1993 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₃ ×

CPI₂₀₂₃/CPI₁₉₉₃

=₩ 100 ×

117.64/49.37

≈₩238.28

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

Value_today

=Value₁₉₉₃ ×

CPI_today/CPI₁₉₉₃

=₩ 100 ×

120.71/49.37

≈₩244.51

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 30 years between 1993 and 2023 and the average inflation rate was 2.9366%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.029366)³⁰

≈₩238.28

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 1993	→	₩2.38 won in 2023
₩5 won in 1993	→	₩11.91 won in 2023
₩10 won in 1993	→	₩23.83 won in 2023
₩50 won in 1993	→	₩119.14 won in 2023
₩100 won in 1993	→	₩238.28 won in 2023
₩500 won in 1993	→	₩1,191.42 won in 2023
₩1,000 won in 1993	→	₩2,382.85 won in 2023
₩5,000 won in 1993	→	₩11,914.25 won in 2023
₩10,000 won in 1993	→	₩23,828.49 won in 2023
₩50,000 won in 1993	→	₩119,142.46 won in 2023
₩100,000 won in 1993	→	₩238,284.91 won in 2023
₩500,000 won in 1993	→	₩1,191,424.57 won in 2023
₩1,000,000 won in 1993	→	₩2,382,849.14 won in 2023

Cumulative inflation From 1993	144.51%
Avg. annual inflation From 1993	2.93%
CPI 1993	49.37
CPI today	120.71

Value of Won over time (by year)

Period	Value
1993	100
1994	106.27
1995	111.03
1996	116.49
1997	121.67
1998	130.81
1999	131.87
2000	134.85
2001	140.33
2002	144.21
2003	149.28
2004	154.64
2005	158.9
2006	162.46
2007	166.58
2008	174.36
2009	179.17
2010	184.44
2011	191.86
2012	196.06
2013	198.61
2014	201.14
2015	202.56
2016	204.53
2017	208.51
2018	211.58
2019	212.39
2020	213.54
2021	218.87
2022	230.01
2023	238.28
2024-11	244.29
Today	244.51