The E-Sylum:  Volume 8, Number 53, December 18, 2005, Article 25

SOUTH KOREA PLANS NEW BANKNOTES FOR 2006

<From a December 14 news report: "Korea's central
bank said yesterday it would supply its new 5,000-won
($4.84) notes with stronger anti-forgery features
starting in early January.

The Bank of Korea plans to stockpile 80 million of
the notes by the end of the year and start supplying
them to local financial institutions on Jan. 2.
The central bank began printing the new notes at
state-run minting facilities in November in hopes
of thwarting an increasing number of counterfeiters.
The new banknote, featuring the portrait of Yul-gok,
a Joseon Dynasty (1392-1910) scholar-bureaucrat,
includes holograms and other anti-forgery features.

The central bank is also preparing new designs for
the 10,000-won and 1,000-won notes. The prototypes
will be made public in the first half of 2006 and
the notes released later the same year.  Increasingly
sophisticated attempts to counterfeit the money have
been a major headache for Korea's central bank,
leading to the adoption of the additional anti-forgery
features."

Full Story

  Wayne Homren, Editor

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