10,000 Korean Won: Understanding the Value and Uses of This Common Banknote
The 10,000 Korean won banknote is one of the most widely used and recognizable currencies in South Korea. It's a common sight in wallets, purses, and cash registers across the country. But have you ever wondered about the history and significance of this banknote?
History of the 10,000 Won Banknote
The 10,000 won banknote was first introduced in 1973, as part of a series of new banknotes designed to replace the old currency. At the time, the won was pegged to the US dollar, and the 10,000 won note was equivalent to about $20. Over the years, the value of the won has fluctuated, but the 10,000 won note has remained a staple of Korean currency.
Design and Security Features
The current 10,000 won banknote features a portrait of King Sejong, the fourth king of the Joseon Dynasty, who is credited with creating the Korean alphabet. The note also features a range of advanced security features, including:
- Watermark: A translucent image of King Sejong's portrait
- Security thread: A thin strip that glows pink when held under UV light
- Microprinting: Tiny text that reads "Bank of Korea" in Korean
- Color-shifting ink: The number "10,000" changes color from copper to green when tilted
Uses and Acceptance
The 10,000 won banknote is widely accepted at most businesses in South Korea, including:
- Convenience stores: 7-Eleven, GS25, and other popular chains
- Restaurants: From street food stalls to high-end restaurants
- Public transportation: Buses, trains, and subways
- Shopping centers: Department stores, markets, and malls
Interesting Facts
- The 10,000 won note is the most widely circulated banknote in South Korea, accounting for over 70% of all banknotes in circulation.
- The note is printed on a special paper that is resistant to wear and tear, and has a lifespan of about 12-18 months.
- In 2019, the Bank of Korea introduced a new 10,000 won note with enhanced security features, including a hologram and a color-shifting image.
In conclusion, the 10,000 Korean won banknote is an integral part of South Korean currency and culture. Its rich history, advanced security features, and widespread acceptance make it a must-have for anyone traveling to or living in South Korea.
