Value of 1997 South Korean Won today

₩100 in 1997

₩200.98 in 2024

The inflation rate in South Korea between 1997 and today has been 100.98%, which translates into a total increase of ₩100.98. This means that 100 won in 1997 are equivalent to 200.98 won in 2024. In other words, the purchasing power of ₩100 in 1997 equals ₩200.98 today. The average annual inflation rate between these periods has been 2.62%.

Inflation timeline in South Korea (1997 - 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 1997-2023	95.85%
Cumulative inflation 1997-today	100.98%
Avg. Annual inflation 1997-2023	2.62%
CPI 1997	60.06
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 1997 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₉₇ ×

CPI₂₀₂₃/CPI₁₉₉₇

=₩ 100 ×

117.64/60.06

≈₩195.85

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

Value_today

=Value₁₉₉₇ ×

CPI_today/CPI₁₉₉₇

=₩ 100 ×

120.71/60.06

≈₩200.98

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 26 years between 1997 and 2023 and the average inflation rate was 2.619%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=₩100 × (1 + 0.02619)²⁶

≈₩195.85

South Korea inflation - Conversion table

Initial Value		Equivalent value
₩1 won in 1997	→	₩1.96 won in 2023
₩5 won in 1997	→	₩9.79 won in 2023
₩10 won in 1997	→	₩19.59 won in 2023
₩50 won in 1997	→	₩97.93 won in 2023
₩100 won in 1997	→	₩195.85 won in 2023
₩500 won in 1997	→	₩979.26 won in 2023
₩1,000 won in 1997	→	₩1,958.52 won in 2023
₩5,000 won in 1997	→	₩9,792.58 won in 2023
₩10,000 won in 1997	→	₩19,585.16 won in 2023
₩50,000 won in 1997	→	₩97,925.78 won in 2023
₩100,000 won in 1997	→	₩195,851.56 won in 2023
₩500,000 won in 1997	→	₩979,257.8 won in 2023
₩1,000,000 won in 1997	→	₩1,958,515.61 won in 2023

Cumulative inflation From 1997	100.98%
Avg. annual inflation From 1997	2.62%
CPI 1997	60.06
CPI today	120.71

Value of Won over time (by year)

Period	Value
1997	100
1998	107.51
1999	108.39
2000	110.84
2001	115.34
2002	118.53
2003	122.7
2004	127.1
2005	130.6
2006	133.53
2007	136.91
2008	143.31
2009	147.26
2010	151.59
2011	157.7
2012	161.14
2013	163.24
2014	165.32
2015	166.49
2016	168.11
2017	171.38
2018	173.91
2019	174.57
2020	175.51
2021	179.89
2022	189.05
2023	195.85
2024-11	200.78
Today	200.98