Title 50,000 Won Bankbotes Debut
Name InterKrest Inc.
E-Mail admin@interkrest.com
South Koreans will not have to carry a fat wallet full of 10,000-won notes anymore, with a new 50,000 won, the highest denomination bill, going into circulation from today.

This is the first issuance of high-valued notes in 36 years since 1973 when the 10,000 won note was first introduced. Until now, 10,000 won notes were the highest-denominated bills, followed by 5,000 won and 1,000 won.

The 50,000-won banknote is expected to have a positive impact on the economy and people's daily lives. The higher-valued bills are expected to encourage private spending, stimulating the local economy. In addition, the notes may substitute for 100,000-won checks. Banks currently spend a total of 280 billion won a year to issue checks.

Shin Saim-dang, a renowned female writer and calligraphist who died in 1551, is featured on the 50,000-won bill. The front of the bill shows artwork by, and a portrait of Shin, who was also the mother of Yulgok, one of the most respected scholars of the Joseon Dynasty (1392-1910).

The new yellow-toned bill is equipped with advanced anti-forgery features, such as security thread, hologram stripe, watermark and intaglio rainbow printing.

(Sourced By Korea Herald)
2009-06-29 06:49:33